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 |
September 5, 2023
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,
Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Sub: Allotment of Equity Shares on exercise of Stock Options under ESOPs
This is to inform you that the Nomination, Governance and Compensation Committee of the Board of Directors of the Company has approved the allotment of 13,283 equity shares of Rs. 5/- each of the Company, fully paid up, on September 5, 2023, to employees pursuant to exercise of their Stock Options, as per the following details:
| a) | 4,979 equity shares of Rs. 5/- each, pursuant to Dr. Reddy's Employees Stock Option Scheme, 2002. |
| b) | 8,304 equity shares of Rs.5/- each underlying 8,304 ADRs pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
Further, please find enclosed the details as required under Regulation 10(c) of the 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
K Randhir Singh
Company Secretary, Compliance Officer & Head-CSR
Encl: as above
Details under Regulation 10(c) of the 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 comply 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 Option Scheme, 2002 and Dr. Reddy’s Employees ADR Stock Option 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: September 5, 2023 (Date of allotment on exercise) |
| 9 | Number of shares issued: 13,283 equity shares |
| 10 | Share Certificate No., if applicable: NA |
| 11 | Distinctive number of the share, if applicable: 213174286 to 213187568 |
| 12 | ISIN Number of the shares if issued in Demat: INE089A01023 |
| 13 | Exercise price per share: (a) 6,383 equity shares exercised at Rs. 5/- per share (b) 5,000 equity shares exercised at Rs.2,607/- per share (c) 1,900 equity shares exercised at Rs.2,814/- per share |
| 14 | Premium per share: (a) 6,383 equity shares - Nil (b) 5,000 equity shares – Rs.2,602/- per share (c) 1,900 equity shares – Rs. 2,809/- per share |
| 15 | Total Issued shares after this issue: 16,67,84,964 (*) |
| 16 | Total Issued share capital after this issue: Rs. 83,39,24,820 /- |
| 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: 166,784,764, i.e., Rs. 833,923,820 (difference of 200 due to forfeited shares of Rs. 5/- each in September 1988 on account of non-payment of allotment money.)
