Dr Reddys Laboratories Ltd 6-K, filed Aug 1, 2022
Dr Reddys Laboratories Ltd (RDY)
About this 6-K
Dr Reddys Laboratories Ltd filed this 6-K on August 1, 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 30, 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 29, 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: Sale of investment in wholly-owned subsidiary – Imperial Credit Private Limited
Ref: Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) and read with the Securities and Exchange Board of India ("SEBI") Circular dated September 9, 2015, bearing reference no. CIR/CFD/CMD/4/2015("Circular")
With reference to the above and in compliance with Regulation 30 of SEBI Listing Regulations, we hereby inform you that the Board of Directors of the Company at its meeting held on July 28, 2022, inter alia, has considered and approved the proposal for sale of its investment in the Wholly-owned Subsidiary, Imperial Credit Private Limited (“Imperial”), a Non- Banking Finance Company, subject to applicable regulatory approvals.
Imperial Credit Private Limited is not a material subsidiary of the Company. The disclosure required under Regulation 30 of the SEBI Listing Regulations read with Circular is enclosed herewith as Annexure-A.
Kindly take the above on your record.
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
Disclosure in respect of Sale of investment in Wholly-owned Subsidiary–Imperial Credit Private Limited
| Particulars | Details |
|
a) The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during the last financial year.
|
The proposal is for sale of investment in a wholly owned subsidiary of the Company, i.e., Imperial Credit Private Limited. The total income and net worth of Imperial Credit Private Limited for the FY 2021-22 are as below:
|
| Particulars | Amount (Rs in millions) |
Percentage | |
| Total income | 0.93 | 0.0004% of consolidated total income of the Company | |
| Net worth | 25.52 | - |
| b) Date on which the agreement for sale has been entered into | July 29, 2022 |
| c) The expected date of completion of sale/ disposal | Sale of investment is subject to approval of the Reserve Bank of India (RBI) |
| d) Consideration received from such sale/ disposal | Total consideration to be received is Rs. 3,32,88,801/- |
| e) Brief details of Buyers |
Mr. Akhilesh Agarwal, Director Dru Gold Pvt. Ltd. Mrs. Archita Shravan Agarwal, Director Dru Gold Pvt. Ltd. |
| f) Whether any of the buyers belong to promoters/ promoter group/ group companies. If yes, details thereof | Buyer not related to promoter/ promoter/ group companies. |
| g) Whether the transaction would fall within related party transactions? If yes, whether the same is done at "arm's length" | No |
| h) Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale | NA |
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 |
Date: July 30, 2022
To,
The Secretary/Executive Director
BSE Limited
National Stock Exchange of India Limited
New York Stock Exchange, Inc.
NSE-IFSC Limited
Dear Sir/Madam,
Sub: Copies of newspaper advertisement regarding unaudited financial results for the quarter ended June 30, 2022
Pursuant to Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended, please find enclosed copies of newspaper advertisement regarding the unaudited financial results of the company for the quarter ended June 30, 2022, as published in Business Standard and Andhra Prabha on July 28, 2022.
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
