The FIPB had referred Alcan's application to the core group as this was the first case of its kind where a foreign firm was seeking approval to hike its stake in an Indian company through an open offer in the secondary market. With this Alcan's proposal of making an open offer to hike its stake in Indal from 34 per cent to 54 per cent is expected to be formally cleared this Saturday. Alcan's open offer had been put under a question mark following delay in FIPB approval.