Exhibit 99.3
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.com |
October 28, 2020
The Secretary
BSE Limited
National Stock Exchange of India Ltd.
New York Stock Exchange Inc.
Dear Sir/Madam,
Sub: Grant of Stock Options and Allotment of Equity Shares on exercise of ESOP
This is to inform you that the Nomination, Governance & Compensation Committee (‘Committee’) of the Board of Directors of the Company at their meeting held on October 27, 2020, approved the allotment of Equity shares to employees on exercise of their Stock Options as per the following details:
a) | 6,932 equity shares of Rs. 5/- each pursuant to Dr. Reddy's Employees Stock Option Scheme, 2002. |
b) | 3,305 equity shares of Rs. 5/- each underlying 3,305 ADRs pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
c) | 5,481 equity shares underlying 5,481 ADRs exercised at fair market value pursuant to Dr. Reddy's Employees ADR Stock Option Scheme, 2007. |
Please find enclosed the details as required under Regulation 10(c) of SEBI (Share Based Employee Benefits) Regulation, 2014.
Further, the Committee has also approved grant of 3,244 Indian stock options, exercisable at par value of Rs.5/- under "Dr. Reddy's Employees Stock Option Scheme, 2002". Out of these options, 1,696 stock options vest uniformly over 4 years and 1,548 options have a cliff vesting at the end of third year.
This is for your information and records.
With regards,
/s/ Sandeep Poddar | |
Sandeep Poddar | |
Company Secretary |
Encl: as above
Details under Regulation 10(c) of SEBI (Share Based Employee Benefits) Regulation, 2014
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: BSE Ltd. National Stock Exchange of India Limited New York Stock Exchange Inc. (ADRs) |
3 | Filing date of the statement referred in Regulation 10(b) of the SEBI (Share Based Employee Benefits) Regulations, 2014 with Stock Exchange: The Schemes were institutionalised under the erstwhile SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and appropriate details under Schedule V were filed. The Schemes complies with provisions of SEBI (Share Based Employee Benefits) Regulation, 2014. |
4 | Filing Number, if any : NA |
5 | Title of the Scheme pursuant to which shares are issued, if any: Dr. Reddy’s Employees Stock Options Scheme, 2002 and Dr. Reddy’s Employees ADR Stock Options 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: October 27, 2020 (Date of allotment on exercise) |
9 | Number of shares issued: 15,718 |
10 | Share Certificate No., if applicable: NA |
11 | Distinctive number of the share, if applicable : 171346784 to 171362501 |
12 | ISIN Number of the shares if issued in Demat : INE089A01023 |
13 |
Exercise price per share: a) 10,237 equity shares exercised at Rs. 5/- per share b) 5,006 equity shares exercised at Rs. 2,607 per share c) 475 equity shares exercised at Rs. 2,814 per share |
14 |
Premium per share: a) 10,237 equity shares – Nil b) 5,006 equity shares exercised at Rs. 2,602 per share c) 475 equity shares exercised at Rs. 2,809 per share |
15 | Total Issued shares after this issue : 166,285,197 (*) |
16 | Total Issued share capital after this issue : Rs. 831,425,985/- |
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: 166,284,997 i.e. Rs. 831,424,985 (difference of 200 due to forfeited shares of Rs. 5/- each in September 1988 due to non-payment of allotment money.