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DR REDDYS LABORATORIES LTD Capital/Financing Update 2024
30528_rns_2024-03-14_620b32a2-75b4-4294-9d87-22dd112b2088.pdf
Capital/Financing Update
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March 14, 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 – Incorporation of a Wholly-owned Subsidiary
This is in furtherance of our intimation dated September 28, 2023, wherein we informed that the Board of Directors of the Company has approved incorporation of a wholly owned subsidiary of the Company in India and the details in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 were given in the said intimation. A copy of the said intimation is annexed for reference.
In this connection, we further inform that Dr. Reddy's Nutraceuticals Limited has been incorporated as wholly owned subsidiary of the Company, on March 14, 2024, having registered office in Hyderabad, Telangana. The Certificate of Incorporation has been issued by the Ministry of Corporate Affairs, Government of India, on March 14, 2024.
This is for your information and records.
Thanking you.
Yours faithfully, For Dr. Reddy's Laboratories Limited KUMAR RANDHIR Digitally signed by KUMAR RANDHIR SINGH
Date: 2024.03.14 17:05:26 +05'30'
K Randhir Singh Company Secretary, Compliance Officer and Head-CSR
Encl: as above
SINGH
September 28, 2023
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 – Incorporation of a Wholly-owned Subsidiary
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), as amended, we wish to inform that the Board of Directors of the Company at its meeting held today, i.e., September 28, 2023, has approved incorporation of a Wholly-owned Subsidiary of the Company.
The details required under Regulation 30 of the SEBI Listing Regulations, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, with respect to the above incorporation of a Whollyowned Subsidiary is given in Annexure enclosed herewith.
The Board Meeting commenced at 13.30 (IST) and concluded at 14:15 (IST).
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: 2023.09.28 14:25:43 +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 |
|---|---|---|
| No | ||
| 1 | Name of the target entity, details in brief suchas size, turnover etc. | ThenameoftheproposedWholly-ownedSubsidiary ("WOS") will be as may be approvedby the Ministry of Corporate Affairs ("MCA"),Government of India. The necessary update willbe given once the WOS is incorporated.Proposed authorized and paid-up share capital:Rs. 10,00,000/-Size/Turnover: Not applicable |
| 2 | Whether the acquisition would fall within | The proposed WOS will be a related party of the |
| related 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-length" | Company upon incorporation thereof. Save andexceptasmentionedabove,thepromoter/promotergroup/groupcompaniesarenotinterested in the proposed WOS. | |
| 3 | Industry to which the entity being acquiredbelongs | HealthandWellbeing(medicalnutrition,specializednutrition, nutraceuticals, vitamins,minerals, herbals and supplements). |
| 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 proposed WOS will carry on the businessrelated to medical nutrition, specialized nutrition,nutraceuticals, vitamins, minerals, herbals andsupplements, and related foods or drugs. Thebusiness of the proposed WOS is not outside themain line of business of the Company. |
| 5 | Briefdetailsofanygovernmentalorregulatoryapprovalsrequiredfortheacquisition | The incorporation of the proposed WOS issubject to the approval of the MCA and otherrelevant statutory/regulatory authorities as maybe applicable. |
| 6 | Indicative time period for completion of theacquisition | The incorporation of the proposed WOS will becompleted subject to receipt of approvals of thestatutory/regulatoryauthoritiesasmaybeapplicable.The necessary update will be given once theWOS is incorporated. |
| 7 | Natureofconsideration-whethercashconsideration or share swap and details of thesame | Subscription of shares in the proposed WOS willbe by way of cash consideration. |
| 8 | Cost of acquisition or the price at which theshares are acquired | The Company will be paying cash considerationto the proposed WOS towards subscription of100% shareholding. |
| 9 | Percentage of shareholding / control acquiredand / or number of shares acquired | 100% |
| 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) | Not Applicable.The WOS is proposed to be incorporated. |