Dr Reddy's Labs arm invests over Rs 2 lakh in Clean Renewable Energy KK 2A
Hyderabad: Dr Reddy's Labs has announced that Aurigene Oncology Limited (''AOL'') (formerly, Aurigene Discovery Technologies Limited), a wholly-owned subsidiary of the Company has made an investment of Rs. 2,08,62,912/- in Clean Renewable Energy KK 2A Private Limited (“CREL”) and CREL has allotted 20,21,600 equity shares of Rs. 10 each at a premium of Rs. 0.32/- per share to AOL on July 31, 2024.
"The fund infused by AOL is to support the financial requirements of the CREL for the development of project.
Consequent to the said investment, AOL holds 26.99% of the share capital in CREL. The investment is done based on valuation report of an Independent Valuer and is on arm’s length basis," Dr Reddy's Labs stated.
Incorporated in 2023, Clean Renewable Energy KK 2A Private Limited, is a newly incorporated company engaged in the business of generation and distribution of power. The paid up capital of it is Rs. 7.50 Crores as on date.
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Established in 1984, Dr. Reddy’s Laboratories Ltd. is a global pharmaceutical company headquartered in Hyderabad, India. The Company offers a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Its major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology.
Dr Reddy's Labs major markets include – USA, India, Russia & CIS countries, China, Brazil and Europe.
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