STEEL AUTHORITY OF INDIA LTD. - Sale of SAILS Equity Stake in Bokaro Jaypee Cement Limited

Steel Authority of India Ltd has informed BSE that Steel Authority of India Limited (SAIL) has on November 28, 2014 sold its entire 26% equity shareholding of 347,49,000 equity shares of Rs. 10/- each in M/s. Bokaro Jaypee Cement limited, a Joint Venture Company of SAIL and M/s. Jaiprakash Associates Limited to Shri. Rangam Securities & Holdings Limited (SRSHL) @ Rs. 67.50 per equity share. SRSHL is an indirect wholly owned subsidiary of M/s. Dalmia Cement (Bharat) Limited; a subsidiary of M/s Dalmia Bharat Limited, SAIL has received a sum of Rs. 234.56 crore as consideration for sale of the above shares.<BR>