Anupam Rasayan India Limited has informed the Exchange about the acquisition, directly or indirectly of equity shares carrying voting rights of up to 74.20% (seventy four point two per cent.) of the total paid up share capital and control of the Bliss GVS Pharma Limited.
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Anupam Rasayan India Limited's board has approved the proposed acquisition of up to 74.20% stake in listed pharmaceutical company Bliss GVS Pharma Limited. The deal involves two parts: (1) a share purchase agreement (SPA) to buy 43.30% stake (4.58 crore shares) from identified sellers at Rs. 299 per share, worth approximately Rs. 1,370 crore, with an option to acquire additional shares; and (2) a mandatory open offer to buy up to 26% from public shareholders at the same Rs. 299 per share price, worth up to Rs. 829 crore. The total deal value could exceed Rs. 2,200 crore in cash. Bliss GVS Pharma is a pharmaceutical manufacturer with FY2026 consolidated turnover of ~Rs. 1,001 crore and net worth of ~Rs. 1,232 crore, and has a global presence in over 60 countries, especially Sub-Saharan Africa. No regulatory approvals are required for the SPA, and the share acquisition is expected to complete within 6 months.
This acquisition is strategically significant as it gives Anupam Rasayan forward integration from KSMs (key starting materials) into finished dosage formulations, expanding its pharmaceutical value chain. Shareholders of Anupam Rasayan may see near-term dilution concerns due to the large cash outflow, while Bliss GVS Pharma shareholders benefit from the open offer premium.