Life Insurance Corporation of India announced it has acquired additional stake in Dr. Reddy’s Laboratories Limited. Post acquisition, the company holds a 5.646 per cent stake in the pharmaceutical major.
According to the company’s exchange filing, “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Corporation’s shareholding in “DR REDDYS LABORATORIES LTD” has increased from 60,64,345 to 93,96,801 Equity Shares increasing its shareholding from 3.644% to 5.646% of the paid-up capital of the said Company.”
Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company located in Hyderabad, Telangana, India. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited.
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