Anupam Rasayan India Limited, along with its wholly owned subsidiary Mates Visa Consultancy Private Limited (PAC), has launched a mandatory open offer to acquire up to 26% of the expanded voting share capital of Bliss GVS Pharma Limited . The offer targets 2,77,26,848 equity shares at a price of ₹299.00 per share, aggregating to a total consideration of ₹829.03 crore. The tendering period commences on July 28, 2026, and closes on August 10, 2026, providing public shareholders an opportunity to exit or participate in the change of control triggered by the acquisition of 43.11% stake via a share purchase agreement dated May 23, 2026.

The Committee of Independent Directors (IDC) of Bliss GVS Pharma recommended the open offer as fair and reasonable in a meeting held on July 22, 2026. The IDC noted that the offer price of ₹299.00 is determined in accordance with Regulation 8(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It represents the highest of the applicable pricing parameters, including the volume-weighted average market price of ₹247.55 on the National Stock Exchange for the 60 trading days preceding the public announcement. However, the IDC highlighted that the closing market prices on BSE and NSE on July 17, 2026, were ₹482.50 and ₹483.50 respectively, which are significantly higher than the offer price.

The acquisition involves Anupam Rasayan India assigning its rights under the share purchase agreement to its PAC, Mates Visa Consultancy Private Limited, following the execution of a deed of adherence on July 17, 2026. Consequently, all shares tendered in the open offer will be acquired by the PAC. SBI Capital Markets Limited serves as the manager to the open offer, while MUFG Intime India Private Limited acts as the registrar. The offer is not conditional upon any minimum level of acceptance.

Key Offer Details

Revised Schedule of Activities

The timeline for the open offer has been revised from the initial schedule. Key dates include:

Public shareholders are advised to independently evaluate the offer considering the disparity between the offer price and current market levels. The Letter of Offer has been dispatched to shareholders holding shares as on the identified date of July 14, 2026. Shareholders who did not receive the letter can download the form of acceptance from SEBI, stock exchange, or the registrar’s website.

bliss gvs pharma has accepted the resignation of Sachin Saboo, General Manager – Regulatory and Clinical, effective July 24, 2026. The Mumbai-based pharmaceutical manufacturer disclosed the departure to the National Stock Exchange of India Limited and BSE Limited on July 24, 2026. Saboo, identified as Senior Management Personnel under SEBI regulations, submitted his resignation letter on April 30, 2026, citing an intent to move in a direction that aligns more closely with his professional aspirations. This change marks an exit from a key regulatory role within the company’s senior management structure.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Part A of Schedule III. The filing also referenced SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Aditi Bhatt, Company Secretary, signed the intimation letter addressed to the listing departments of both exchanges.

Resignation Details

The company confirmed that Saboo was relieved from his duties at the close of business hours on July 24, 2026. His resignation letter, dated April 30, 2026, expressed appreciation for the support received from management and colleagues during his tenure. Saboo committed to ensuring a smooth transition of responsibilities during his notice period.

The filing did not disclose any relationships between directors or provide a brief profile beyond the designation. The company stated that the resignation was voluntary and based on personal career considerations.