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- Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) - Update on joint venture between the Company and Dr. Reddy’s Laboratories Limited
Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) - Update on joint venture between the Company and Dr. Reddy’s Laboratories Limited
The Company has submitted to BSE and NSE that further to our letter no. PKR:SG: 52:24 dated 25th April 2024, regarding execution of a definitive agreement between Nestlé India Limited (“the Company”) and Dr. Reddy’s Laboratories Limited (“DRL”) to form a joint venture in which the Company and DRL will hold equity shares in the ratio of 49:51, respectively. This is to inform you that the Company has acquired 49,000 equity shares of Rs. 10/- each of “Dr. Reddy’s and Nestlé Health Science Limited” (formerly, Dr. Reddy’s Nutraceuticals Limited) (“JV Company”) from DRL.
After such acquisition, the Company is holding 49% of the share capital (49,000 equity shares of Rs. 10/- each) and DRL is holding 51% of the share capital (51,000 equity shares of Rs. 10/- each) of the JV Company.
The details required under the Listing Regulations read with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023 is enclosed as Annexure-I.