In compliance with the provisions of Regulation 30 of the SEBI Listing Regulations, we hereby notify that the Company has entered into a binding term sheet to sell its entire stake of 51% held in Saba Investment Limited, UAE ( Saba ) to Shibam Group Holding Limited, UAE. Consequent to the sale, upon execution of the transaction, Saba and its subsidiaries viz Cipla Middle East Pharmaceuticals FZ LLC, UAE ( CME ) and Cipla Medica Pharmaceutical and Chemical Industries Limited, Yemen ( Cipla Medica ), will cease to be subsidiaries of the Company.