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RDY Positive Sentiment Score: 60/100

Dr. Reddy's Laboratories Ltd. 8-2-337, Road No. 3, Banjara Hills, Hyderabad - 500 034, Telangana, India. CIN : L85195TG1984PLC004507 Tel : +91 40 4900 2900 Fax : +91 40 4900 2999 Email : mail@drreddys.com www.drreddys.co

Thursday, July 20, 2023 1 min read
Key Takeaway: Dr. Reddy's Laboratories has announced the approval of a Scheme of Amalgamation from the National Company Law Tribunal, permitting the merger of its subsidiaries Pharmasofttech Awacs Private Limited into Pharmarack Technologies Private Limited. This decision, effective from June 22, 2023, is part of a consolidation strategy within the company's digital healthcare initiatives. The merger aims to streamline operations and may enhance the overall efficiency of Dr. Reddy's digital services moving forward.

Market Sentiment Analysis

POSITIVE FACTORS

  • Approval of the Scheme of Amalgamation is a significant step.
  • Merger may enhance operational efficiencies and synergies.
  • Supports Dr. Reddy's strategic growth objectives.

Full Press Release Details

National Stock Exchange of India Ltd. (Stock Code:
BSE Limited (Stock Code: 500124)
New York Stock Exchange Inc. (Stock Code: RDY)
NSE IFSC Ltd. (Stock Code: DRREDDY)
In furtherance to our earlier intimation dated
March 31, 2021, this is to inform you that the National Company Law Tribunal, Mumbai vide its order dated June 22, 2023, the certified
copy of which has been received on July 19, 2023, has approved the Scheme of Amalgamation for merger of Pharmasofttech Awacs Private Limited
into Pharmarack Technologies Private Limited. Both these companies are subsidiaries of Aarogya Bharat Digital LLP (earlier known as DigiHealth
Technologies LLP), which in turn is a wholly-owned subsidiary of ABCD Technologies LLP. The Company owns 6.45% interest in ABCD Technologies
Kindly take the above on your record.
For Dr. Reddy's Laboratories Limited
/s/ K Randhir Singh
K Randhir Singh
Company Secretary, Compliance Officer and Head CSR

Frequently Asked Questions

What companies were involved in the merger?

The merger involved Pharmasofttech Awacs Private Limited and Pharmarack Technologies Private Limited.

When was the merger approved by the tribunal?

The merger was approved on June 22, 2023.

Who owns the companies involved in the merger?

Both companies are subsidiaries of Aarogya Bharat Digital LLP.

What is the stock code for BSE Limited?

The stock code for BSE Limited is 500124.

Who signed the notification about the merger?

The notification was signed by K Randhir Singh, Company Secretary.

Tags: RDY Viatris Investor Conferences Healthcare Dr. Reddy's Laboratories ABCD Technologies Pharmasofttech Pharmarack Technologies NCLT
Last updated: Jul 20, 2023