Anupam Rasayan India Limited and PAC launch Open Offer for Bliss GVS Pharma Limited Shares at ₹299 per Equity Share

Anupam Rasayan India Limited and PAC launch Open Offer for Bliss GVS Pharma Limited Shares at ₹299 per Equity Share​

Anupam Rasayan India Limited (ARIL), along with its wholly owned subsidiary Mates Visa Consultancy Private Limited (PAC), has launched a mandatory open offer to acquire shares of Bliss GVS Pharma Limited (BGP). The open offer seeks to acquire up to 2,77,26,848 Equity Shares representing 26.00% of the Expanded Voting Share Capital of BGP.

The acquisition is being carried out through ARIL and PAC. The maximum consideration for the entire Offer Size stands at ₹ 829,03,27,552.00 (Indian Rupees Eight Hundred Twenty-Nine Crore Three Lakh Twenty-Seven Thousand Five Hundred Fifty-Two only).

Open Offer Details​

The offer price set by ARIL and PAC is fixed at ₹ 299.00 per Equity Share. This price was certified as the highest among various parameters, including the negotiated price under a related agreement.

Key operational details of the open offer are as follows:

Financial Arrangements and Financing​

The Acquirer has made arrangements to meet the financing obligations for this Open Offer. The total financial arrangements include cash equivalents and debt financing amounting to ₹ 3,038.00 crore.

In terms of compliance requirements, ARIL opened an escrow account with Axis Bank Limited in the amount of ₹ 160,00,00,000.00 (Indian Rupees One Hundred Sixty Crore only) for the Open Offer.

Corporate Profiles​

Anupam Rasayan India Limited (Acquirer)
ARIL is a public company engaged primarily in custom synthesis and manufacturing of specialty chemicals. The company was established on 30 September 2003. ARIL’s shares are traded on the BSE (Scrip Code: 543275) and NSE (Symbol: ANURAS).

Mates Visa Consultancy Private Limited (PAC)
MVCP is a private company incorporated on 25 May 2022. It operates in consultancy and management services within the immigration, visa filing, and language testing sectors. MVCP serves as a wholly owned subsidiary of ARIL for this open offer.

Bliss GVS Pharma Limited (Target Company)
BGP is a listed pharmaceutical company engaged in manufacturing suppositories, pessaries, tablets, capsules, and other specialty pharmaceutical products. The total fully paid-up share capital of BGP stands at 10,62,43,972 Equity Shares.

Financial Overview of the Acquirer​

ARIL has demonstrated steady growth across several financial years. Below is a summary of key financial metrics (in ₹ Crores) from its recent audited financials:

Contingent Liabilities of the Acquirer​

As of March 31, 2026, ARIL reported contingent liabilities and commitments totaling ₹ 86.06 crore, including a corporate guarantee to a bank in relation to a loan taken by an associate company at ₹ 75.00 crore.

ANURAS Stock Price Movement​

Anupam Rasayan India Limited shares gently trended upwards on Tuesday, settling at ₹1266.4 after gaining 0.01% in the market. The equity saw a volume of 335,951 shares during the trading session.