SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
January, 2024
Commission
File Number 1-15182
DR.
REDDY’S LABORATORIES LIMITED
(Translation of registrant’s name into English)
8-2-337, Road No. 3, Banjara Hills
Hyderabad, Telangana 500 034, India
+91-40-49002900
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F x Form
40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ______
Note: Regulation S-T Rule 101(b)(1) only permits the submission
in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ______
Note: Regulation S-T Rule 101(b)(7) only
permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized
(the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities
are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the
registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether by furnishing the
information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b)
under the Securities Exchange Act of 1934.
Yes
¨
No x
If “Yes” is marked, indicate below the file number assigned
to registrant in connection with Rule 12g3-2(b): 82-________.
EXHIBITS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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DR. REDDY’S LABORATORIES LIMITED
(Registrant) |
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Date: January 30, 2024 |
By: |
/s/ K Randhir Singh |
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Name: |
K Randhir Singh |
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Title: |
Company Secretary |
Exhibit 99.1
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Dr. Reddy’s Laboratories Ltd.
8-2-337, Road No. 3, Banjara Hills,
Hyderabad - 500 034, Telangana,
India.
CIN : L85195TG1984PLC004507
Tel : +91 40
4900 2900
Fax : +91 40 4900
2999
Email : mail@drreddys.com
www.drreddys.com |
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.
|
Dr. Reddy’s Laboratories Ltd.
8-2-337, Road No. 3, Banjara Hills,
Hyderabad - 500 034, Telangana,
India.
CIN : L85195TG1984PLC004507
Tel : +91 40
4900 2900
Fax : +91 40 4900
2999
Email : mail@drreddys.com
www.drreddys.com |
| 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 and Compensation Committee |
Ms. Kalpana Morparia, Independent Director – Chairperson
Dr. K.P. Krishnan, Independent Director – Member
Mr. Arun M Kumar, Independent Director – Member
Mr. Leo Puri, Independent Director – Member
Mr. Sanjiv Mehta, Independent Director – Member |
Sustainability and CSR Committee |
Dr. K.P. Krishnan, Independent Director – Chairman
Ms. Kalpana Morparia, Independent Director – Member
Mr. G V Prasad, Co-Chairman and Managing Director – Member
Mr. Satish Reddy, Chairman – Member
Mr. Sanjiv Mehta, Independent Director – Member |
Science, Technology and Operation Committee |
Dr. Claudio Albrecht, Independent Director –
Chairman
Mr. Leo Puri, Independent Director – Member
Ms. Penny Wan, Independent Director – Member
Dr. Alpna Seth, Independent Director – Member
Mr. Sanjiv Mehta, Independent Director – Member |
Risk Management Committee |
Ms. Shikha Sharma, Independent Director – Chairperson,
Ms. Penny Wan, Independent Director – Member
Dr. Claudio Albrecht, Independent Director – Member
Dr. 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
/s/ K. Randhir Singh |
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K. Randhir Singh |
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Company Secretary, Compliance Officer & Head-CSR |
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