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DR REDDYS LABORATORIES LTD Capital/Financing Update 2024
30528_rns_2024-08-01_76318e04-fb37-4a58-8824-ebd191eefc2a.pdf
Capital/Financing Update
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August 1, 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 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
This is to inform that Aurigene Oncology Limited ("AOL") (formerly, Aurigene Discovery Technologies Limited), a wholly-owned subsidiary of the Company has made an investment of Rs. 2,08,62,912/- in Clean Renewable Energy KK 2A Private Limited ("CREL") and CREL has allotted 20,21,600 equity shares of Rs. 10 each at a premium of Rs. 0.32/- per share to AOL on July 31, 2024.
The details required under Regulation 30 of the SEBI Listing Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, with respect to the above fund infusion is given in Annexure enclosed herewith.
This is for your information and records.
Thanking you.
Yours faithfully, For Dr. Reddy's Laboratories Limited
KUMAR RANDHIR SINGH Digitally signed by KUMAR RANDHIR SINGH Date: 2024.08.01 21:48:09 +05'30'
K Randhir Singh Company Secretary, Compliance Officer and Head-CSR
Encl: as above
Annexure
Disclosure under Part A Para A(i) of Schedule III read with Regulation 30 of the SEBI (Listing Obligation
| and Disclosure Requirements) Regulations, 2015 | ||
|---|---|---|
| Sl. | Particulars | Description |
| No12 | Name of the target entity, details in brief suchas size, turnover etc.Whether the acquisition would fall withinrelated party transaction(s) and whether thepromoter/ promoter group/ group companieshave any interest in the entity being acquired?If yes, nature of interest and details thereofand whether the same is done at "arms | Clean Renewable Energy KK 2A Private Limited("CREL"), is a newly incorporated companyengagedin the business of generation and distribution ofpower. The fund infused by AOL isto support thefinancial requirements of the Companyfor thedevelopmentofproject.TheCompanywasincorporated on August 10, 2023 with its registeredoffice situated at Plot No. 201, Ground floor, OkhlaIndustrial Estate, New Delhi-110020.The paid upcapital of theCompany as on date is Rs.7.50 Crores.The investment in CRELis not a related partytransaction, as AOLor its group companies doesn'thave any interest. Consequent to the said investment,AOL holds 26.99% of the share capital in CREL. Theinvestment is done based on valuation report of anIndependent Valuer andis on arm's length basis. |
| length" | ||
| 3 | Industry to which the entity being acquiredbelongs | CREL is engaged in the business of setting up ofsolarpower plants, generation and distribution of powerfrom solar project and project related consultancy inrelation to the setting up of solar power plants. |
| 4 | Objects and effects of acquisition (includingbut not limited to, disclosure of reasons foracquisition of target entity, if its business isoutside the main line of business of the listedentity) | The fund infused by AOL in CREL is to meet thedevelopmentcost of project in compliance withGroup Captive norms. |
| 5 | Briefdetailsofanygovernmentalorregulatoryapprovalsrequiredfortheacquisition | Not applicable. |
| 6 | Indicative time period for completion of theacquisition | CREL has allotted 20,21,600 Equity shares of Rs.10each at a premium of Rs. 0.32/-to AOLon July 31,2024. |
| 7 | Natureofconsideration-whethercashconsideration or share swap and details of thesame | Cash consideration |
| 8 | Cost of acquisition or the price at which theshares are acquired | Cash consideration of Rs. 2,08,62,912/-towardssubscription of equity shares of 20,21,600 equityshares of Rs.10 each at a premium of Rs. 0.32/-. |
| 9 | Percentage of shareholding/ control acquiredand/ or number of shares acquired | AOL holds 26.99% of share capital in CREL. |
| 10 | Brief background about the entity acquired interms of products/line of business acquired,date of incorporation, history of last 3 yearsturnover, country in which the acquired entityhaspresenceandanyothersignificantinformation (in brief) | CRELisincorporatedon Aug 10, 2023 and is engagedin the business of setting up ofsolar power plants,generation and distribution of powerfrom solarproject and project related consultancy inrelation tothe setting up of solar power plants. The company hasNil turnover for FY2023-24. |
| KUMAR | Digitally signed byKUMAR RANDHIR |
|---|---|
| RANDHIR | SINGH |
| SINGH | Date: 2024.08.01$21:48:35 + 05'30'$ |