Anupam Rasayan India Limited has informed the Exchange regarding a press release titled Anupam Rasayan India Limited enters into a definitive agreement to acquire equity stake and Open Offer to the public shareholders of Bliss GVS Pharma Limited".
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Anupam Rasayan India Limited has signed a definitive agreement to acquire a 43.3%-48.2% equity stake in listed pharmaceutical company Bliss GVS Pharma Limited. The company will also make a mandatory Open Offer to public shareholders of Bliss GVS Pharma. The total purchase consideration is being financed through Rs 300 crores via term loan and a non-controlling non-voting equity instrument for the balance amount. Bliss GVS Pharma is engaged in manufacturing and export of pharmaceutical formulations including suppositories, tablets, capsules, and injectables, with a strong presence in Africa, Asia, and Latin America, and holds US FDA, WHO-GMP, and EU-GMP certifications. The acquisition is aimed at building an integrated pharmaceutical platform spanning KSMs to finished dosage formulations with synergies in backward integration and regulated market presence.
This acquisition diversifies Anupam Rasayan beyond specialty chemicals into pharmaceutical formulations, potentially creating shareholder value through an integrated platform. The mandatory Open Offer at 43.3-48.2% stake may trigger a change of control scenario at Bliss GVS Pharma, impacting its share price.