Anupam Rasayan India has announced its board’s approval for acquiring up to 74.20% of Bliss GVS Pharma‘s equity shares. The acquisition will be executed through a share purchase agreement and an open offer to public shareholders.
The board of Anupam Rasayan India Limited has approved a significant acquisition strategy involving Bliss GVS Pharma Limited. The company plans to acquire up to 74.20% of Bliss GVS Pharma’s total paid-up share capital, a move that includes both a direct share purchase and an open offer to the public shareholders.
The acquisition will be executed in two parts. Firstly, Anupam Rasayan will acquire up to 43.30% of Bliss GVS Pharma’s shares through a share purchase agreement (SPA) at ₹299 per share, amounting to ₹1,369.51 crore. Additionally, the company has an option to acquire up to 4.90% more shares from the sellers at the same price, contingent upon a call option available in the SPA.
Secondly, an open offer will be made to the public shareholders to acquire up to 26% of Bliss GVS Pharma’s equity share capital at ₹299 per share, aggregating to ₹829.03 crore. This offer is in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Bliss GVS Pharma is a public listed company engaged in the manufacturing of pharmaceutical products, including suppositories, pessaries, tablets, capsules, and other specialty products. As of March 31, 2026, the company reported a turnover of ₹1,000.64 crore and a net worth of ₹1,231.76 crore.
The acquisition aims to bolster Anupam Rasayan’s presence in the pharmaceutical sector, enhancing its capabilities across the value chain from key starting materials to finished dosage formulations. The strategic move is expected to create a more integrated and diversified pharmaceutical manufacturing platform, leveraging Bliss GVS Pharma’s established capabilities in niche dosage forms and strong international footprint.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).