Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please be informed that the Company has approved the proposal for sale of 49% equity stake held by the Company in Formex Private Limited ("FPL"), an Associate Company. Hence, on completion of the transaction, Formex Private Limited shall cease to be an associate of the Company. However, it continues to be an Enterprise in which KMP''s can exercise significant influence.