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DR REDDYS LABORATORIES LTD — Board/Management Information 2024
Jan 30, 2024
30528_rns_2024-01-30_3d7463e5-cedc-4f24-b13c-d52cb430af65.pdf
Board/Management Information
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January 30, 2024
National Stock Exchange of India Ltd. (Scrip Code: DRREDDY-EQ) BSE Limited (Scrip Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY) NSE IFSC Ltd (Stock Code: DRREDDY)
Dear Sir/Madam,
Sub: Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that the Board of Directors of the Company at its meeting held on January 30, 2024, has inter-alia approved the following:
a) Investment in Aurigene Oncology Limited (“AOL”) (formerly Aurigene Discovery Technologies Limited), a wholly-owned subsidiary (“WOS”) of the Company
Approval of the fund infusion by way of investment in equity shares of Aurigene Oncology Limited (“AOL”) (formerly, Aurigene Discovery Technologies Limited), a wholly-owned subsidiary of the Company, upto an amount of Rs. 6,500 million, in one or more tranches, from time to time. AOL will make similar investment in equity shares of Aurigene Pharmaceutical Services Limited (“APSL”), a wholly-owned subsidiary of AOL and a step-down wholly-owned subsidiary of the Company, to support the capex and working capital requirements of APSL.
The requisite details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, will be disclosed to the stock exchange(s) after approval of the respective Board of the wholly-owned subsidiaries.
b) Voluntary liquidation of Imperial Owners and Land Possessions Private Limited (formerly, - Imperial Credit Private Limited), wholly owned subsidiary of the Company
Approval of the voluntary liquidation of Imperial Owners and Land Possessions Private Limited (formerly, Imperial Credit Private Limited) (“Imperial”), wholly-owned subsidiary of the Company, in terms of the provisions of applicable laws and rules. Imperial is not a material subsidiary of the Company. As on March 31, 2023, Imperial had a net worth of Rs. 26.62 million and revenue from operation (net gain on fair value changes) of Rs. 1.47 million. The paid up capital of Imperial is Rs. 12.30 million divided into 123,000 equity shares of Rs. 100/- each. It may also be noted that the liquidation of Imperial, will not have any significant impact on the Company or its financials.
The requisite details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, will be disclosed to the stock exchange(s) after approval of the Board of Imperial, wholly-owned subsidiary of the Company.
KUMAR Digitally signed by KUMAR RANDHIR RANDHIR SINGH Date: 2024.01.30 SINGH 16:02:06 +05'30'
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c) Changes in the composition of Board Committees of the Company
Approval of Induction of Mr. Sanjiv Mehta, Independent Director, as a member of Nomination, Governance and Compensation Committee, Sustainability and CSR Committee, and Science, Technology and Operations Committee, and Induction of Dr. Alpna Seth, Independent Director, as a member of Risk Management Committee. The details of chairperson and members of the said Board Committees are as hereunder:
| Board Committees | Details of members/ chair after changes in the Committee composition |
|---|---|
| Nomination,Governance andCompensationCommittee | Ms. Kalpana Morparia, Independent Director – ChairpersonDr. K.P. Krishnan, Independent Director – MemberMr. Arun M Kumar, Independent Director – MemberMr. Leo Puri, Independent Director – MemberMr. Sanjiv Mehta, Independent Director – Member |
| Sustainability andCSR Committee | Dr. K.P. Krishnan, Independent Director – ChairmanMs. Kalpana Morparia, Independent Director – MemberMr. G V Prasad, Co-Chairman and Managing Director – MemberMr. Satish Reddy, Chairman – MemberMr. Sanjiv Mehta, Independent Director – Member |
| Science,Technology andOperationCommittee | Dr. Claudio Albrecht, Independent Director – ChairmanMr. Leo Puri, Independent Director – MemberMs. Penny Wan, Independent Director – MemberDr. Alpna Seth, Independent Director – MemberMr. Sanjiv Mehta, Independent Director – Member |
| Risk ManagementCommittee | Ms. Shikha Sharma, Independent Director – Chairperson,Ms. Penny Wan, Independent Director – MemberDr. Claudio Albrecht, Independent Director – MemberDr. Alpna Seth, Independent Director – Member |
The Board Meeting commenced at 11.54 a.m. IST and concluded at 3.45 p.m. IST.
This is for your information and record.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
KUMAR Digitally signed by RANDHIR KUMAR RANDHIR SINGH Date: 2024.01.30 SINGH 16:02:26 +05'30'
K Randhir Singh
Company Secretary, Compliance Officer & Head-CSR