Anupam Rasayan India Launches Open Offer for Bliss GVS Pharma Limited Shareholders
Anupam Rasayan India Limited has initiated a mandatory Open Offer for the public shareholders of Bliss GVS Pharma Limited. The offer, announced on May 23, 2026, is triggered by the proposed acquisition of a substantial stake in the Target Company by the Acquirer.The Open Offer is designed to acquire up to 2,77,26,848 fully paid-up equity shares of Bliss GVS Pharma Limited, representing 26.00% of the Expanded Voting Share Capital. The Open Offer is being made at a fixed price of ₹ 299.00 per Offer Share. Assuming full acceptance, the total consideration payable by the Acquirer would amount to up to ₹ 8,29,03,27,552.00.
The acquisition mandate stems from a Share Purchase Agreement (SPA) dated May 23, 2026. Under the SPA, Anupam Rasayan India Limited has agreed to acquire 4,58,03,024 Equity Shares from existing promoters and public shareholders (collectively referred to as 'Sellers'). These shares represent 43.30% of the equity share capital of Bliss GVS Pharma Limited as of the date. The sale and purchase of these shares are proposed at a price not exceeding ₹ 299.00 per Equity Share.
Underlying Transaction Details
The underlying transaction involves the acquisition of the shares detailed in the SPA. This transaction is fundamental in triggering the mandatory Open Offer obligation.| Transaction Element | Details | Shares/Voting Rights Acquired | Percentage of Share Capital | Total Consideration |
|---|---|---|---|---|
| Shares Acquired via SPA | From Sellers | 4,58,03,024 Equity Shares | 43.30% of the equity share capital | ₹ 13,69,51,04,176.00 |
| Offer Size (Open Offer) | To Public Shareholders | Up to 2,77,26,848 Equity Shares | 26.00% of the Expanded Voting Share Capital | Up to ₹ 8,29,03,27,552.00 |
The Open Offer is structured as a mandatory offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for acquiring substantial voting rights and control over the Target Company.
Participating Shareholders (Sellers)
The Sellers involved in the share purchase agreement include Promoter Sellers and Non-Promoter Sellers, with varying holdings before and after the underlying transaction.| Name | Promoter Group Status | Pre-Transaction Shares Held | % of Equity Share Capital (Pre) | Post-Transaction Shares Held (Option) | % of Expanded Voting Share Capital (Post) |
|---|---|---|---|---|---|
| Shruti Vishal Rao | Yes | 2,110,000 | 1.99% | 0 | 0.00% |
| Vibha Gagan Sharma | Yes | 2,575,000 | 2.43% | 0 | 0.00% |
| Narsimha Shibroor Kamath | Yes | 32,437,024 | 30.66% | 37,00,000 | 3.47% |
| Gautam Rasiklal Ashra | No | 2,981,571 | 2.82% | 9,31,571 | 0.87% |
| Arjun Gautam Ashra | No | 5,049,000 | 4.77% | 5,50,000 | 0.52% |
| Gulbarga Trading and Investment Private Limited | No | 5,832,000 | 5.51% | 0 | 0.00% |
| Total | 50,984,595 | 48.19% | 51,81,571 | 4.86% |
Acquirer Details
Anupam Rasayan India Limited is the Acquirer. Based on the Share Purchase Agreement, the Acquirer's proposed shareholding is detailed below:| Scenario | Number of Shares | Percentage of Equity Share Capital | Percentage of Expanded Voting Share Capital |
|---|---|---|---|
| Initial Proposed Holding (Underlying Transaction) | 4,58,03,024 Equity Shares | 43.30% | 42.95% |
| Proposed Holding (Assuming Full Offer Acceptance) | 7,35,29,872 Equity Shares | 69.51% | 68.95% |
The overall transaction, including the Open Offer and the SPA, is subject to the satisfaction of various statutory and contractual approvals and the terms detailed in the accompanying Public Announcement.
BLISSGVS Stock Price Movement
On Friday, Bliss GVS Pharma Limited shares rallied, gaining 1.96% to settle at ₹300.35. The stock's performance was marked by reaching its 52-week high of ₹304, with the equity supported by a robust daily volume of 2.32 million shares.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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