Anupam Rasayan India Ltd has announced a strategic move to acquire up to 74.20% equity and control of Bliss GVS Pharma Limited. The acquisition, valued at Rs. 299 per share, aims to integrate pharmaceutical value chains, ranging from Key Starting Materials (KSMs) to finished dosage forms. This expansion is designed to enhance manufacturing capabilities, strengthen international reach across 60+ countries, and unlock operational synergies to support long-term sustainable growth.
Transaction Overview
The board of directors of Anupam Rasayan has approved a multi-stage acquisition process. The first phase involves the purchase of 43.30% of the total paid-up share capital from identified sellers for a total consideration of Rs. 1,369.51 crore. Additionally, the company will initiate an open offer to acquire up to 26% of the expanded share capital from public shareholders at the same price of Rs. 299 per equity share, amounting to approximately Rs. 829.03 crore. The deal also includes options to acquire further residual shares from the sellers in the future.
Strategic Rationale
This acquisition is set to significantly transform the company’s manufacturing footprint. By combining Anupam Rasayan’s advanced chemistry expertise with the target’s established portfolio—which includes specialized products like suppositories, pessaries, tablets, and capsules—the merged entity will command a more diversified pharmaceutical platform. The move is expected to drive forward integration, enabling the firm to span the entire value chain from basic chemical precursors to finished pharmaceutical products.
Target Financial Profile
Bliss GVS Pharma brings a robust financial track record to the table. As of March 31, 2026, the target company reported a consolidated turnover of Rs. 1,000.64 crore and a net worth of Rs. 1,231.76 crore. With a historical turnover growth trend—rising from Rs. 798.98 crore in FY 2023-24 to Rs. 1,000.64 crore in FY 2025-26—the business demonstrates strong operational stability. The acquisition is projected to close within 6 months, subject to customary closing conditions.
Source: BSE
