DR REDDYS LABORATORIES LTD — Major Shareholding Notification 2020

Feb 13, 2020

SC 13G 1 d855624dsc13g.htm SCHEDULE 13G SCHEDULE 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Dr. Reddy’s Laboratories Ltd

(Name of Issuer)

Common Stock

(Title of Class of Securities)

256135203

(CUSIP Number)

December 31, 2019

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☑: Rule 13d-1(b)

☐: Rule 13d-1(c)

☐: Rule 13d-1(d)

• The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP NO. 256135203

1	NAME OF REPORTING PERSON Mitsubishi UFJ Financial Group, Inc.
2	CHECK THE
APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b)
3	SEC USE
ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Tokyo, Japan

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	SOLE VOTING POWER 8,666,428
6	SHARED VOTING
POWER -0-
7	SOLE DISPOSITIVE
POWER 8,666,428
8	SHARED DISPOSITIVE POWER -0-

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,666,428
10	CHECK IF
THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11	PERCENT OF
CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%
12	TYPE OF
REPORTING PERSON FI

*Held in the form of 8,273,674 shares of common stock and 392,754 American Depositary Receipts (“ADRs”), with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

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CUSIP NO. 256135203

1	NAME OF REPORTING PERSON Mitsubishi UFJ Trust and Banking Corporation
2	CHECK THE
APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b)
3	SEC USE
ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Tokyo, Japan

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	SOLE VOTING POWER 8,666,428
6	SHARED VOTING
POWER -0-
7	SOLE DISPOSITIVE
POWER 8,666,428
8	SHARED DISPOSITIVE POWER -0-

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,666,428
10	CHECK IF
THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11	PERCENT OF
CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%
12	TYPE OF
REPORTING PERSON FI

*Held in the form of 8,273,674 shares of common stock and 392,754 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

3

CUSIP NO. 256135203

1	NAME OF REPORTING PERSON First Sentier Investors Holdings Pty Ltd
2	CHECK THE
APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b)
3	SEC USE
ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Commonwealth of Australia

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	SOLE VOTING POWER 8,589,311
6	SHARED VOTING
POWER -0-
7	SOLE DISPOSITIVE
POWER 8,589,311
8	SHARED DISPOSITIVE POWER -0-

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 8,589,311
10	CHECK IF
THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11	PERCENT OF
CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.2%
12	TYPE OF
REPORTING PERSON FI

*Held in the form of 8,208,902 shares of common stock and 380,409 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

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CUSIP NO. 256135203

1	NAME OF REPORTING PERSON Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
2	CHECK THE
APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b)
3	SEC USE
ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Tokyo, Japan

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	SOLE VOTING POWER 18,841
6	SHARED VOTING
POWER -0-
7	SOLE DISPOSITIVE
POWER 18,841
8	SHARED DISPOSITIVE POWER -0-

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 18,841
10	CHECK IF
THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11	PERCENT OF
CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0%
12	TYPE OF
REPORTING PERSON FI

*Held in the form of 18,575 shares of common stock and 266 American Depositary Receipts (“ADRs”) with each ADR representing 1 share of common stock. The common stock is not registered for trading but only in connection with the registration of American Depository Shares which are evidenced by the ADRs.

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CUSIP NO. 256135203

ITEM 1
(a)	Name of Issuer
	Dr. Reddy’s Laboratories Ltd.
(b)	Address of Issuer’s Principal Executive Offices
	8-2-337, Road No.3, Banjara Hills, Hyderabad, Telangana 500034, India
ITEM 2
(a)	Names of Persons Filing
	Mitsubishi UFJ Financial Group, Inc. (“MUFG”)
	Mitsubishi UFJ Trust and Banking Corporation (“MUTB”)
	First Sentier Investors Holdings Pty Ltd (“FSIHD”)
	Mitsubishi UFJ Kokusai Asset Management Co., Ltd. (“MUKAM”)
(b)	Address of Principal Business Office or, if none, Residence
	MUFG :
	7-1 Marunouchi 2-chome, Chiyoda-ku
	Tokyo 100-8330, Japan
	MUTB :
	4-5 Marunouchi 1-chome, Chiyoda-ku
	Tokyo 100-8212, Japan
	FSIHD :
	Level 5, Tower Three International Towers Sydney, 300 Barangaroo Avenue, Barangaroo NSW 2000,
	MUKAM :
	12-1 Yurakucho 1-chome, Chiyoda-ku Tokyo 100-0006, Japan
(c)	Citizenship
	MUFG : Tokyo, Japan
	MUTB : Tokyo, Japan
	FSIHD : Commonwealth of Australia
	MUKAM : Tokyo, Japan

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CUSIP NO. 256135203

	Title of Class of Securities
	Common Stock
(e)	CUSIP Number
	256135203 (this CUISIP number is for the issuer’s American Depository Shares, not the Common Stock)
ITEM 3	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is
a:
MUFG:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
	(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.
1813);
	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
	(j)[ Ö ]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).
	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Parent holding company
MUTB:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
	(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

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CUSIP NO. 256135203

	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
	(j)[ Ö ]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).
	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
Bank
FSIHD:	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
	(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
	(j)[ Ö ]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).
	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Parent holding company

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CUSIP NO. 256135203

	(a)[ ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
	(b)[ ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
	(c)[ ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
	(d)[ ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
	(e)[ ]	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
	(f)[ ]	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
	(g)[ ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)[ ]	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813);
	(i)[ ]	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
	(j)[ Ö ]	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
	(k)[ ]	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).
	If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Investment
adviser
ITEM 4	Ownership
	Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

For MUFG — (a)	Amount beneficially owned:	8,666,428
(b)	Percent of class:	5.23%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:	8,666,428
	(ii) Shared power to vote or to direct the vote:	-0-
	(iii) Sole power to dispose or to direct the disposition of:	8,666,428
	(iv) Shared power to dispose or to direct the disposition of:	-0-
For MUTB
(a)	Amount beneficially owned:	8,666,428
(b)	Percent of class:	5.23%

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CUSIP NO. 256135203

	(c)	Number of shares as to which the person has: — (i) Sole power to vote or to direct the vote:	8,666,428
		(ii) Shared power to vote or to direct the vote:	-0-
		(iii) Sole power to dispose or to direct the disposition of:	8,666,428
		(iv) Shared power to dispose or to direct the disposition of:	-0-
	For FSIHD
	(a)	Amount beneficially owned:	8,589,311
	(b)	Percent of class:	5.18%
	(c)	Number of shares as to which the person has:
		(i) Sole power to vote or to direct the vote:	8,589,311
		(ii) Shared power to vote or to direct the vote:	-0-
		(iii) Sole power to dispose or to direct the disposition of:	8,589,311
		(iv) Shared power to dispose or to direct the disposition of:	-0-
	For MUKAM
	(a)	Amount beneficially owned:	18,841
	(b)	Percent of class:	0.01%
	(c)	Number of shares as to which the person has:
		(i) Sole power to vote or to direct the vote:	18,841
		(ii) Shared power to vote or to direct the vote:	-0-
		(iii) Sole power to dispose or to direct the disposition of:	18,841
		(iv) Shared power to dispose or to direct the disposition of:	-0-
ITEM 5	Ownership of Five Percent or Less of a Class
	Not applicable.
ITEM 6	Ownership of More than Five Percent on Behalf of Another Person
	Not applicable.
ITEM 7	Identification and Classification of the Subsidiary which Acquired the Security Being
Reported on by the Parent Holding Company or Control Person
	As of December 31, 2019, MUFG beneficially owns 8,666,428 shares of the issuer
indirectly through its subsidiaries as follows: MUTB holds 8,666,428 shares (indirectly through a subsidiary, FSIHD); and (indirectly through a subsidiary, MUKAM). Furthermore, FSIHD holds 8,589,311 shares (indirectly through its subsidiaries as
follows; First Sentier Investors (Australia) IM Ltd, First Sentier Investors (Australia) RE Ltd, First State Investments (Singapore), First State Investment Management (UK) Limited and First State Investments International
Limited).

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CUSIP NO. 256135203

ITEM 8	Identification and Classification of Members of the Group
	Not applicable.
ITEM 9	Notice of Dissolution of Group
	Not applicable.
ITEM 10	Certifications
	By signing below I certify that, to the best of my knowledge and belief, the securities
referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction having that purpose or effect.

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CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

February 13, 2020
Mitsubishi UFJ Financial Group, Inc.
By:	/s/ Riyuuichirou Sakuma
Name:	Riyuuichirou Sakuma
Title:	Managing Director, Deputy Head of Credit
Policy & Planning Division

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CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

February 13, 2020
Mitsubishi UFJ Trust and Banking Corporation
By:	/s/ Masahiro Saruta
Name:	Masahiro Saruta
Title:	Managing Executive Officer and General Manager, Asset Management and Investor Services Planning Division

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CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

February 13, 2020
First Sentier Investors Holdings Pty Ltd
By:	/s/ Yutaka Kawakami
Name:	Yutaka Kawakami
Title:	Deputy CEO

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CUSIP NO. 256135203

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

February 13, 2020
Mitsubishi UFJ Kokusai Asset Management Co., Ltd.
By:	/s/ Takashi Miyazaki
Name:	Takashi Miyazaki
Title:	General Manager of Risk Management Division

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