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| Exchange Received Time 31/05/2017 13:01:34 Exchange Disseminated Time 31/05/2017 13:01:42 Time Taken 00:00:08 | This disclosure is in continuation to and be read in conjunction with Company's aforesaid disclosure dated 6th October, 2016 consisting of press release and information annexed in terms of Regulation 30 of Listing Regulations, 2015.
The Company has executed today a definitive agreement with Orient Cement Limited (OCL), a part of CK Birla Group, as authorized by the Board of Directors of the Company on 6th October, 2016 for acquisition by OCL of Company's 74% equity stake in Bhilai Jaypee Cement Limited (BJCL) based on an Enterprise Value of Rs. 1,450 crore on a cash free and debt free basis and subject to adjustments on account of Working Capital, if any and subject to approval of SAIL, approval of lenders of BJCL besides other statutory & regulatory approvals, as applicable.
An updated Annexure - I is enclosed in terms of Listing Regulation 30.
Kindly take the information on record. |
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