Anupam Rasayan has announced a strategic move to acquire up to 74.20% stake in Bliss GVS Pharma Limited, aiming to gain majority control. The deal involves an initial acquisition of 43.30% at Rs. 299 per share, with further options for remaining shares and an open offer for an additional 26%. This acquisition is designed to integrate manufacturing capabilities across the pharmaceutical value chain, from key starting materials to finished dosage forms.
Strategic Business Combination
Anupam Rasayan has entered into a definitive agreement to acquire a majority stake in Bliss GVS Pharma Limited. The acquisition process involves multiple components, including a direct purchase of 4,58,03,024 shares representing 43.30% of the target’s capital, and an open offer to public shareholders for up to 26%. Upon completion, Anupam Rasayan will assume the role of promoter and take control of the target company.
Rationale for the Acquisition
The deal is set to create a more integrated and diversified pharmaceutical manufacturing platform. By combining Anupam Rasayan’s advanced chemistry expertise with Bliss GVS Pharma’s established presence in niche dosage forms and its strong international footprint across 60+ countries, the company expects to unlock significant operational synergies. This move strengthens its position across the entire pharmaceutical value chain, extending from basic components to finished pharmaceutical products.
Target Company Financial Profile
Bliss GVS Pharma brings a robust financial track record to the partnership. As of March 31, 2026, the target reported a consolidated turnover of Rs. 1,000.64 crore and a net worth of Rs. 1,231.76 crore. The company has shown consistent growth over the last three years, with turnover rising from Rs. 798.98 crore in 2023-2024 to its current 2025-2026 levels.
Transaction Timeline and Pricing
The share acquisition under the agreement is priced at Rs. 299 per share. The overall transaction is expected to be completed within 6 months, subject to customary closing conditions. In instances where the company exercises its call option for residual ‘Retained Shares’ in the future, acquisitions will occur at prevailing market prices, or at the floor price of Rs. 299 if market rates are lower, ensuring value protection for the acquirer.
Source: BSE
