Anupam Rasayan and PAC Launch Open Offer for Bliss GVS Pharma: Acquire Up To 26% Stake at ₹299 Per Share
Anupam Rasayan India Limited, alongside its wholly-owned subsidiary Mates Visa Consultancy Private Limited (PAC), has launched a mandatory Open Offer to acquire a stake in the shares of Bliss GVS Pharma Limited. The offer targets up to 2,77,26,848 equity shares, representing 26.00% of the Expanded Voting Share Capital of the pharmaceutical company.The acquisition is part of an Underlying Transaction involving Anupam Rasayan India Limited (Acquirer) and the PAC regarding a share purchase agreement signed with specific sellers from the Target Company's promoter group and non-promoter shareholders. The PAC, which was recently acquired by the Acquirer, has been designated as the person acting in concert for this Open Offer.
The acquisition is centered around the sale of shares by identified promoter sellers (including Shruti Vishal Rao and Vibha Gagan Sharma) and other public shareholders to the Acquirer/PAC. The transaction includes a significant component where the PAC is also obligated under the Share Purchase Agreement to acquire 4,58,03,024 equity shares from the Sellers.
Key parameters of the Open Offer are detailed below:
| Parameter | Detail |
|---|---|
| Target Company | Bliss GVS Pharma Limited |
| Acquirer | Anupam Rasayan India Limited |
| Person Acting in Concert (PAC) | Mates Visa Consultancy Private Limited |
| Offer Price | ₹ 299.00 per Equity Share |
| Offer Size | Up to 2,77,26,848 Equity Shares |
| Stake Represented | 26.00% of Expanded Voting Share Capital |
| Maximum Consideration | ₹ 829,03,27,552.00 |
The Open Offer is structured to acquire shares from all eligible public shareholders. The transaction commitment from the Acquirer and PAC regarding the underlying purchase agreement was certified by Swati Kedar Kothari and Co., Chartered Accountants (Firm Registration No. 150854W).
Financial commitments underpinning the offer include a cash deposit of ₹ 160,00,00,000.00 in an escrow account managed by Axis Bank Limited, alongside arrangements for financing totaling ₹ 3,038.00 Crore from various sources including cash and available bank limits.
The timeline for the acquisition process is as follows:
| Event | Date / Duration |
|---|---|
| Identified Date (for LOF dispatch) | Tuesday, 14 July 2026 |
| Tendering Period Start (Offer Opening Date) | Tuesday, 28 July 2026 |
| Tendering Period End (Offer Closing Date) | Monday, 10 August 2026 |
The Open Offer is non-conditional and not a competing offer. Shareholders are advised to submit their bids through the stock exchange mechanism, which will be provided by BSE in the form of an Acquisition Window.
BLISSGVS Stock Price Movement
Today, shares of Bliss GVS Pharma Limited tumbled as the stock closed down 3.25%, settling at ₹467. The equity saw a trading volume of 145,033 shares during the post-market session following a decline from yesterday's close of ₹482.7.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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