Anupam Rasayan India Limited has filed the Draft Letter of Offer with the Securities and Exchange Board of India (SEBI) to acquire up to 2,77,26,848 equity shares of Bliss GVS Pharma Limited, representing 26.00% of the expanded voting share capital. The offer price is fixed at ₹299.00 per equity share, aggregating to a total consideration of ₹829,03,27,552.00. This mandatory open offer is triggered by a share purchase agreement dated May 23, 2026, wherein the acquirer agreed to purchase 4,58,03,024 equity shares, representing 43.30% of the equity share capital, from the existing promoters and public shareholders.

The transaction is being made in compliance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Upon completion of the underlying transaction and the open offer, Anupam Rasayan India Limited will gain control over Bliss GVS Pharma Limited and will be designated as the promoter. The existing promoter group will be reclassified as public shareholders. The acquirer has stated that it has no intention to delist the target company following this offer.

Offer Details and Schedule

The tentative schedule for the open offer outlines key dates for the process. The identified date for determining eligible shareholders is July 2, 2026. The tendering period, during which shareholders can offer their shares, is set to commence on July 16, 2026, and conclude on July 29, 2026. The last date for the payment of consideration or refund of shares to shareholders is August 12, 2026.

Financial Arrangements and Pricing

The offer price of ₹299.00 per share has been determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations, being the highest of the negotiated price under the share purchase agreement and the volume weighted average market price. To secure the offer, the acquirer has deposited ₹160,00,00,000.00 into an escrow account with Axis Bank Limited. Swati Kedar Kothari and Co., Chartered Accountants, have certified that the acquirer has adequate financial resources to fulfill the obligations under the offer.

The acquirer has arranged financing through cash and cash equivalents amounting to ₹394.00 crore, callable money of ₹644.00 crore, and a non-binding high confidence letter for potential acquisition financing of ₹2,000.00 crore. The open offer is not conditional upon any minimum level of acceptance.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE930P01018/93dfa81b-5384-4b2e-a2bd-02b4241b9c6f.pdf

Bliss GVS Pharma has achieved a significant regulatory milestone with its Palghar manufacturing facility receiving WHO GMP compliance confirmation from the World Health Organization. This certification affirms that the facility meets internationally recognized Good Manufacturing Practice standards, a critical benchmark for pharmaceutical manufacturers operating in global markets.

WHO GMP Compliance: A Key Regulatory Achievement

The WHO GMP compliance confirmation granted to the Palghar plant reflects the facility's alignment with stringent international quality and manufacturing standards. WHO GMP certification is widely regarded as a prerequisite for pharmaceutical companies seeking to supply medicines to regulated markets across multiple geographies, particularly in emerging and developing economies.

The Palghar plant's attainment of this approval positions Bliss GVS Pharma to strengthen its manufacturing credentials on an international scale. WHO GMP certification is a globally accepted quality standard that validates a facility's processes, infrastructure, and quality management systems, ensuring that pharmaceutical products manufactured therein meet the required safety and efficacy benchmarks.