Dr Reddys Laboratories Ltd 6-K, filed Jul 29, 2022
Dr Reddys Laboratories Ltd (RDY)
About this 6-K
Dr Reddys Laboratories Ltd filed this 6-K on July 29, 2022.
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
July, 2022
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.
| DR. REDDY’S LABORATORIES LIMITED (Registrant) | |||
| Date: July 28, 2022 | By: | /s/ K Randhir Singh | |
| Name: | K Randhir Singh | ||
| Title: | Company Secretary | ||
Exhibit 99.2
 |
Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
July 28, 2022
National Stock Exchange of India Ltd. (Stock Code: DRREDDY-EQ)
BSE Ltd. (Stock 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 SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
This is to inform you that the Nomination, Governance and Compensation Committee of the Board of Directors of the Company at its meeting held on July 27, 2022, has approved the following:
| (1) | Grant of Stock Options to the eligible employees under the Employee Stock Options Schemes of the Company: |
| Sl. No. | Type of Option | Number of Options granted | Value | Exercise Price per share (Rs.) | ESOP Scheme |
| 1 | Indian Stock Options | *988 | Fair Market Value | 4,212.00 | Dr. Reddy’s Employees Stock Option Scheme, 2018 |
| *1,316 | |||||
| *2,568 | |||||
| 2 | American Depository Receipts (ADRs) Stock Options | ^37,268 | Face Value | 5.00 | Dr. Reddy's Employees ADR Stock Option Scheme, 2007 |
*These options shall vest uniformly over 4 years
^These options will vest in 4 years, 50% at the end of 2nd year and 50% at the end of 4th year
| (2) | Allotment of 7,426 equity shares of Rs. 5/- each of the Company, fully paid up, as per the following details: |
| a) | 2,504 equity shares of Rs. 5/- each, pursuant to Dr. Reddy's Employees Stock Option Scheme, 2002. |
| b) | 4,347 equity shares of Rs. 5/- each underlying 4,347 ADRs, pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
| c) | 575 equity shares underlying 575 ADRs at fair market value, pursuant to Dr. Reddy’s Employees ADR Stock Option Scheme, 2007 |
Further, please find enclosed the details as required under Regulation 10(c) of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
This is for your information and records.
Thanking you.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
| /s/ K. Randhir Singh |
K. Randhir Singh
Company Secretary and Compliance Officer
Encl: as above
Details under Regulation 10(c) of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
| 1 | Company name and address of Registered Office: Dr. Reddy's Laboratories Limited 8-2-337, Road No.3, Banjara Hills, Hyderabad – 500034 |
| 2 |
Name of the Stock Exchanges on which the company’s
shares are listed: NSE IFSC Limited (ADRs) |
| 3 |
Filing date of the statement referred in Regulation 10(b) of the SEBI (Share Based Employee Benefits) Regulations, 2021 with Stock Exchange:
The Schemes were institutionalised under the erstwhile the SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and appropriate details under Schedule V were filed. The Schemes complies with provisions of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. |
| 4 | Filing Number, if any : NA |
| 5 | Title of the Scheme pursuant to which shares are issued, if any: Dr. Reddy’s Employees Stock Options Scheme, 2002 and Dr. Reddy’s Employees ADR Stock Options Scheme, 2007 |
| 6 | Kind of security to be listed: Equity Shares |
| 7 | Par value of the shares: Rs. 5/- |
| 8 | Date of issue of shares: July 27, 2022 (Date of allotment on exercise) |
| 9 | Number of shares issued: 7,426 equity shares |
| 10 | Share Certificate No., if applicable: NA |
| 11 | Distinctive number of the share, if applicable : 212843823 to 212851248 |
| 12 | ISIN Number of the shares if issued in Demat : INE089A01023 |
| 13 |
Exercise price per share: (a) 6,851 equity shares exercised at Rs. 5/- per share (b) 575 equity shares exercised at Rs.2,814/- per share |
| 14 |
Premium per share: (a) 6,851 equity shares-Nil (b) 575 equity shares exercised at 2,809/- per share |
| 15 | Total Issued shares after this issue : 166,448,644 (*) |
| 16 | Total Issued share capital after this issue : Rs. 832,243,220/- |
| 17 | Details of any lock-in on the shares : NA |
| 18 | Date of expiry of lock-in: NA |
| 19 | Whether shares identical in all respects to existing shares if not, when will they become identical?: Yes, the shares rank pari passu with the existing shares |
| 20 | Details of listing fees, if payable : NA |
(*) Total paid up capital after this issue: 166,448,444 i.e. Rs. 832,242,220 (difference of 200 due to forfeited shares of Rs. 5/- each in September 1988 due to non-payment of allotment money.)
 |
Exhibit 99.3
 |
Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
July 28, 2022
National Stock Exchange of India Ltd. (Stock Code: DRREDDY-EQ)
BSE Limited (Stock Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
Dear Sir/Madam,
| Sub: | Appointment of Mr. Arun Madhavan Kumar (DIN: 09665138) as an Additional Director, categorized as Independent, on the Board of the Company |
| Ref: | Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) |
Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to inform that Mr. Arun Madhavan Kumar (DIN: 09665138), has been appointed as an Additional Director, categorized as Independent, on the Board of Dr. Reddy's Laboratories Ltd., for a term of five consecutive years, effective from August 1, 2022. His appointment is approved by the Board of Directors, at its meeting held today, based on recommendations of the Nomination, Governance and Compensation Committee and is subject to approval of the shareholders.
Mr. Kumar is not related to any of the Directors on the Board of the Company and is not debarred from holding the office of Director by virtue of any SEBI order or any other such authority.
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, with respect to the above appointment of Mr. Kumar are enclosed as Annexure A.
This is for your information and records.
Thanking you.
Yours faithfully
For Dr. Reddy’s Laboratories Limited
| /s/ K Randhir Singh | |
| K Randhir Singh | |
| Company Secretary & Compliance Officer |
Encl: As above
| |
Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
Annexure A
Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular CIR/CFD/CMD/4/2015 dated September 9, 2015
Details of Mr. Arun Madhavan Kumar
| Sl. No | Particulars | Remarks |
| 1 | Reason for change | Appointed as Additional Independent Director |
| 2 | Date of appointment and term of appointment | August 1, 2022 for a term of five consecutive years, effective from August 1, 2022 |
| 3 | Brief profile |
Mr. Arun Madhavan Kumar, is a Managing Partner at Celesta Capital, a leading deep technology venture capital firm that leverages synergies between leading centers of innovation in the US, India, and Israel to create globally impactful enterprises.
In February 2022, Mr. Kumar completed his five-year term as the Chairman and CEO of KPMG in India. In this role, he led a large organization consisting of several thousand talented professionals engaged in providing assurance, tax, and advisory services, through a period of extraordinary growth in revenues, profits, people and organizational transformation. He was a member of the global Board of Directors of KPMG as well as its EMA Board.
Mr. Kumar previously served in President Obama’s administration as Assistant Secretary of Commerce for Global Markets and Director General of the U.S. & Foreign Commercial Service (USFCS), under the leadership of Commerce Secretary Penny Pritzker. As the administration’s lead official to promote U.S. exports, foreign direct investment, and enhanced market access around the world, he led a team of 1,700 professionals in 78 countries and all the 50 states of the U.S. The Global Markets unit and USFCS saw substantial growth in coverage and impact during his tenure. During that time, Mr. Kumar also had a special focus on the U.S.-India economic relationship, helping establish high level bilateral dialogues in areas ranging from innovation to infrastructure and working closely with the U.S. India CEO Forum.
Prior to his nomination by President Obama, Mr. Kumar was a partner at KPMG LLP in the US and was a member of the Board of the firm. Based in Silicon Valley, he led KPMG’s Management Consulting practice in the West. Before joining KPMG, he was a co-founder, CEO, and CFO of three technology companies in Silicon Valley; over the years, Mr. Kumar has been a mentor to entrepreneurs in Silicon Valley and India. |
| |
Dr. Reddy’s Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, CIN : L85195TG1984PLC004507
Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.com |
|
Mr. Kumar is a member of the Council on Foreign Relations. He serves as Chair of the Wadhwani Institute of Technology and Policy. Mr. Kumar is an advisor to the Board of Directors of the US-India Business Council. He serves on the Board of Indiaspora, an organization that links accomplished and influential people of Indian origin in many countries to enhance the relationships between their country of residence and India.
He is the author of two books of poetry, Plain Truths, published in 2010 by Current Books, and Mantram Beach, published in 2020 by the Aleph Book Company. He co-edited Kerala’s Economy: Crouching Tiger, Sacred Cows, published in 2007 by DC Books.
Mr. Kumar received his master’s degree from the MIT Sloan School of Management. He earned his undergraduate degree, in physics, as a National Science Talent Scholar, from the University of Kerala, Trivandrum. | ||
| 4 | Disclosure of relationships between directors | None |