Dr Reddys Laboratories Ltd 6-K, filed Apr 1, 2021
Dr Reddys Laboratories Ltd (RDY)
About this 6-K
Dr Reddys Laboratories Ltd filed this 6-K on April 1, 2021.
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
March, 2021
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: March 31, 2021 | By: | /s/ Sandeep Poddar |
| Name: Sandeep Poddar | ||
| Title: Company Secretary | ||
Exhibit 99.1
 |
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 |
March 31, 2021
To,
The Secretary
BSE Limited
National Stock Exchange of lndia Ltd.
New York Stock Exchange Inc.
NSE IFSC Limited
Dear Sir/ Madam,
Sub: Agreement to contribute to ABCD Technologies LLP
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has entered into a partnership agreement with ABCD Technologies LLP (to be renamed as IndoHealth Services LLP).
The details required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed as Annexure – A.
This is for your information and record.
Thanking you,
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
| /s/ Sandeep Poddar | |
| Sandeep Poddar | |
| Company Secretary |
Encl: As above
Annexure A
| a) Name of the target entity, details in brief such as size, turnover etc. |
i) Name of the Target entity: ABCD Technologies LLP (to be renamed as IndoHealth Services LLP). ii) Details of Target entity: The target entity is a newly incorporated limited liability partnership (‘LLP’) and has not commenced any business activities. |
| b) Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms-length” | No |
| c) Industry to which the entity being acquired belongs | Digital Supply Chain-Healthcare/ Pharmaceutical and allied segments/ services. |
| d) Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity | The transaction is in line with the Company’s purpose of accelerating access and affordability of medicines to all, and the strategy of leveraging digital technology and infrastructure towards this. The proposed business of Target entity will be carried out with an objective to facilitate the digitization of the healthcare infrastructure in India towards enhancement of Good Distribution Practices (“GDP”) inter alia, in support of the National Digital Health Mission of Government of India (“Business.”). |
| e) Brief details of any governmental or regulatory approvals required for the acquisition | None |
| f) Indicative time period for completion of the acquisition |
March 31, 2021.
Subsequent tranches of contribution will follow basis the contribution made by other partners. |
| g) Nature of consideration – whether cash consideration or share swap and details of the same |
Cash infusion as capital contribution and/or loan.
|
| h) Cost of acquisition or the price at which the shares are acquired |
Contribution upto INR 40 crores corresponding to the contribution by the other partners.
The overall contribution is scalable over a period of time with the same share of profit/loss corresponding to the contribution of other partners. |
| i) Percentage of shareholding / control acquired and/or number of shares acquired | Upto 20% share of profit/ loss in LLP. |
| j) Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
The target entity has been incorporated on February 10, 2021 with an object to facilitate, enable and promote efficiency in pharma supply chain and larger pharma ecosystem to enable the stakeholders to provide better and more affordable patient care solutions, in line with the objectives of NDHM with activities strictly in compliance with applicable law.
The LLP will be an industry digital initiative by certain major pharmaceutical companies.
The Target entity will be a holding entity and would undertake business through one more LLPs or subsidiaries. |
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 |
March 31, 2021
To,
The Secretary
BSE Limited
National Stock Exchange of lndia Ltd.
New York Stock Exchange Inc.
NSE IFSC Limited
Dear Sir/ Madam,
Sub: Intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015.
We would like to inform you that our investee entity i.e. ABCD Technologies LLP (to be renamed as IndoHealth Services LLP) has, through its wholly-owned entity DigiHealth Technologies LLP, acquired 66.02% ownership interest in AIOCD Pharmasofttech Awacs Private Limited (“AWACS”) though a combination of (i) direct purchase of 50% ownership interest in AWACS and (ii) indirect purchase of 16.02% ownership interest in AWACS through acquisition of 32.04% shareholding interest in Trikaal Mediinfotech Private Limited. It is also agreed to acquire the balance stake subject to fulfilment of certain terms and conditions.
The details required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 are enclosed as Annexure – A.
This is for your information and record.
Yours faithfully,
For Dr. Reddy’s Laboratories Limited
| /s/ Sandeep Poddar | |
| Sandeep Poddar | |
| Company Secretary |
Encl: As above
ANNEXURE – A
| Sr. No. | Particulars | Detail |
| a. | Name of the target entity, details in brief such as size, turnover etc. |
(i) Name of the Target Entities:
AIOCD Pharmasofttech Awacs Private Limited (“AWACS”).
Trikaal Mediinfortech Private Limited (“Trikaal”)
(ii) Details of the Target Entities:
AWACS is engaged in the business of pharmaceutical data collection and market research.
Trikaal is 50% owner of AWACS and holds certain intellectual property in relation to AWACS’s business. |
| b. | Whether the acquisition would fall within related party transaction(s)and whether the promoter/promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is one at "arms length" |
Not a related party transaction.
|
| c. |
Industry to which the entity being acquired belongs |
Healthcare Services |
| d. | Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line' of business of the listed entity) | A step by ABCD Technologies LLP (to be renamed as IndoHealth Services LLP) towards the initiative with an objective to facilitate, enable and promote efficiency and Good Distribution Practices (‘GDP’) including digitizing healthcare infrastructure in India, inter alia, in support of the National Digital Health Mission of Government of India (‘Business’). The acquisition is and will be done by its wholly owned entity DigiHealth Technologies LLP. |
| e. | Brief details of any governmental or regulatory approvals required for the acquisition | Not Applicable |
| f. | Indicative time period for completion of the acquisition |
The acquisition of 66.02% of shareholding in AWACS (direct and indirect together) has been completed on 30th of March, 2021.
The acquisition of 33.44% of the shareholding in AWACS (indirect) is envisaged to be completed over the course of next few months subject to fulfilment of certain terms and conditions.
The remaining 0.54% of the shareholding in AWACS (indirect) is likely to be acquired after 05 years (FY: 2026-’27) |
| g. | Nature of consideration - whether cash consideration or share swap and details of the same | Cash Consideration payable by DigiHealth Technologies LLP |
| h. | Cost of acquisition or the price at which the shares are acquired | The cost of acquisition for the combined transaction of AWACS and Trikaal is approximately INR 75 crores for acquisition of 100% stake in AWACS and Trikaal (direct and indirect together). |
| i. |
Percentage of shareholding / control acquired and / or number of shares acquired |
Please refer to the response provided in point f above. |
| j. | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
(i) About the entities: AWACS is engaged in the business of pharmaceutical data collection and market research.
Trikaal is 50% owner of AWACS and holds certain intellectual property in relation to AWACS’s business.
(ii) Date of Incorporation:
AWACS: September 21, 2007
Trikaal: January 03, 2007
(iii) Turnover history of last 3 years:
AWACS: 2019-2020: Rs. 15,31,95,103 2018-2019: Rs. 16,15,30,697 2017-2018: Rs. 16,30,86,020
Trikaal: 2019-2020: Nil 2018-2019: Nil 2017-2018: Rs. 1,10,00,000
(iv) Country: India |
