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.