Anupam Rasayan Acquires Majority Stake in Bliss GVS Pharma

Anupam Rasayan India Limited is set to acquire 4,58,03,024 equity shares, which represent 43.30% of the paid-up capital of Bliss GVS Pharma Ltd.

This move signals a change of control for Bliss GVS Pharma, with Anupam Rasayan India Limited becoming a promoter.

Deal Details

A Share Purchase Agreement (SPA) was executed on May 23, 2026, between existing shareholders of Bliss GVS Pharma and Anupam Rasayan India Limited. The agreement covers the sale of 4,58,03,024 equity shares, constituting 43.30% of the company's paid-up capital.

Impact on Bliss GVS Pharma

The acquisition marks a significant change in ownership for Bliss GVS Pharma. Anupam Rasayan India Limited's new role as a promoter is expected to influence the company's future direction. A key consequence of this deal is the mandatory open offer to all public shareholders of Bliss GVS Pharma, providing them an opportunity to sell their shares at a set price.

Open Offer and Share Price Provisions

Following the SPA completion, Anupam Rasayan India Limited plans to launch an open offer to acquire up to an additional 26% of the company's paid-up equity share capital. The SPA also includes a provision where the buyer can purchase retained shares off-market at INR 299 per share if the market price drops below this level on the acquisition date. This could act as a floor price for the open offer.

Regulatory Hurdles and Next Steps

The transaction's finalization depends on securing all required statutory and regulatory approvals. Investors will be watching for the successful completion of the SPA, the necessary regulatory clearances, and the formal commencement of the open offer by Anupam Rasayan India Limited.