Share Purchase Agreement proposed to be executed between identified sellers, the target and the Company.
ANURAS · price
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Anupam Rasayan India Ltd's board has approved the acquisition of Bliss GVS Pharma Ltd, a listed pharmaceutical company, through a two-part transaction. First, the company will purchase 43.30% stake (4.58 crore shares) from identified sellers at Rs. 299 per share via Share Purchase Agreement, amounting to Rs. 1,369.51 crore. Second, an open offer will be made to public shareholders for an additional 26% stake at the same price of Rs. 299 per share, worth up to Rs. 829.03 crore. The target company has a consolidated turnover of Rs. 1,000.64 crore (FY26) and net worth of Rs. 1,231.76 crore, with presence in over 60 countries, particularly in Sub-Saharan Africa. Total maximum consideration is approximately Rs. 2,198 crore in cash.
This acquisition will give Anupam Rasayan control over Bliss GVS Pharma, marking it as a significant consolidation in the Indian pharmaceutical sector. The mandatory open offer at Rs. 299 per share may provide a near-term price floor for Bliss GVS Pharma shareholders, while Anupam Rasayan investors may see dilution impact in the short term but potential synergies from forward integration in the long term.