Anupam Rasayan confirms no new share pledges in FY26

Anupam Rasayan India Limited disclosed the status of encumbrances on promoter shares for the financial year ended March 31, 2026, confirming no new pledges were created during the period. The declaration, submitted under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, states that promoters and the promoter group have not made any fresh encumbrance on shares held directly or indirectly. The filing ensures transparency regarding the leverage of promoter holdings, which remains restricted to previously disclosed amounts.

The disclosure details the specific shares currently encumbered by the promoters. Anand Sureshbhai Desai, a promoter, has 38,25,780 shares pledged, representing 3.36% of the total equity share capital. Mona Anandbhai Desai has pledged 26,80,000 shares, accounting for 2.35% of the equity. Additionally, Rehash Industrial and Resins Chemicals Private Limited, also a promoter, has 50,00,000 shares encumbered, which constitutes 4.39% of the total equity share capital. The document notes that the balance of encumbered shares for Anand Sureshbhai Desai remains as of March 31, 2026, with no new encumbrance during the year.

Shareholding Details

The filing further outlines the total shareholding of the promoter and promoter group entities. Anand Sureshbhai Desai holds 1,10,76,940 shares, translating to a 9.73% stake in the company. Mona Anandbhai Desai holds 41,40,625 shares, or 3.64% of the equity. Rehash Industrial and Resins Chemicals Private Limited holds 72,17,040 shares, representing a 6.34% stake.

Name of Shareholder	Category	Shares Encumbered	% of Total Equity	Type of Encumbrance
Anand Sureshbhai Desai	Promoter	38,25,780	3.36%	Pledge
Mona Anandbhai Desai	Promoter	26,80,000	2.35%	Pledge
Rehash Industrial and Resins Chemicals Private Limited	Promoter	50,00,000	4.39%	Pledge

Promoter Group Holdings

Members of the promoter group also hold significant stakes in the company. Shraddha Anand Desai holds 77,86,435 shares, amounting to 6.84% of the equity. Panna Divyesh Vaidya holds 6,25,000 shares, representing 0.55%. Gaurav Ramsarup Khurana HUF holds 80 shares, categorized as negligible. Ushma Deven Mehta holds 2,00,000 shares, or 0.18%, on behalf of Precision Financial Investments, a partnership firm categorized as a promoter.

Kiran Pallavi Investments LLC, a promoter, confirmed in a separate declaration submitted on April 07, 2026, that no encumbrance was made on shares during the financial year ended March 31, 2026. The entity holds 3,62,06,896 shares, representing 31.80% of the total equity share capital. The declaration was submitted by Dr. Kiran C. Patel, Manager, on behalf of the promoter.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.40%	-3.97%	-7.27%	-1.72%	+20.81%	+69.72%

Anupam Rasayan India Limited has filed a Draft Letter of Offer with SEBI to initiate a mandatory open offer for the public shareholders of Bliss GVS Pharma Limited. The offer is being made pursuant to Regulation 3(1) read with Regulation 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following the execution of a Share Purchase Agreement (SPA) dated 23 May 2026.

The acquirer has agreed to acquire 4,58,03,024 equity shares, representing 43.30% of the equity share capital of Bliss GVS Pharma Limited, from existing promoters and public shareholders. Consequently, the acquirer is making a cash offer to the public shareholders to acquire up to 2,77,26,848 fully paid-up equity shares, representing 26.00% of the expanded voting share capital of the target company.

Offer Details

The open offer price has been fixed at ₹299.00 per equity share, aggregating to a total consideration of ₹829,03,27,552.00 assuming full acceptance. The offer price was determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations, being the highest of the negotiated price under the SPA and the volume weighted average market price for the 60 trading days preceding the public announcement.

Parameter	Details
Offer Size	2,77,26,848 Equity Shares (26.00% of Expanded Voting Share Capital)
Offer Price	₹299.00 per Equity Share
Total Consideration	₹829,03,27,552.00 (assuming full acceptance)
Face Value	₹1 per Equity Share

Financial Arrangements and Schedule

In accordance with Regulation 17(4) of the SEBI (SAST) Regulations, the acquirer has opened an escrow account with Axis Bank Limited and deposited ₹160,00,00,000.00. SBI Capital Markets Limited is acting as the Manager to the Offer, while MUFG Intime India Private Limited is the Registrar.

The tentative schedule indicates that the tendering period for the open offer will commence on 16 July 2026 and close on 29 July 2026. The identified date for determining eligible shareholders is 2 July 2026. The acquirer has certified that it has adequate financial resources, including cash and cash equivalents of ₹394.00 crore and available bank limits of ₹644.00 crore, to fulfill the obligations under the offer.

Background and Approvals

The acquirer has entered into agreements with promoter sellers—Shruti Vishal Rao, Vibha Gagan Sharma, and Narsimha Shibroor Kamath—and non-promoter sellers, including Gautam Rasiklal Ashra and Arjun Gautam Ashra. Upon completion of the transaction, the existing promoter group of the target company will cease to be in control and will be reclassified as public shareholders.

The offer is not conditional upon a minimum level of acceptance. The acquirer reserves the right to revise the offer price upwards prior to the commencement of the tendering period. The Draft Letter of Offer is available on the websites of SEBI and the company.