Bliss GVS Pharma Limited has disclosed that Anupam Rasayan India Limited and Mates Visa Consultancy Private Limited acquired control of the company on September 28, 2026. This development follows the consummation of a Share Purchase Agreement dated May 23, 2026, and the completion of the mandatory open offer.

Consequent to this change in control, the Board of Directors of Bliss GVS Pharma took note of the reclassification of the erstwhile Promoters and Promoter Group from the "Promoter and Promoter Group" category to the "Public" category. This action was taken in accordance with Regulation 31A(10) of the SEBI Listing Regulations.

New promoter structure

The updated list of Promoters and Promoter Group entities has been filed with the stock exchanges. Anupam Rasayan India Limited and Mates Visa Consultancy Private Limited are now classified as Promoters. The remaining entities, including various subsidiaries and affiliates of Anupam Rasayan, are classified under the Promoter Group category.

Regulatory compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references a prior disclosure submitted to stock exchanges on September 28, 2026, regarding the reclassification process. The transaction documents were executed on May 23, 2026, with the control transfer effective September 28, 2026.

Bliss GVS Pharma Limited has created a pledge on 5,09,84,595 equity shares, constituting 47.95% of its total voting capital, in favour of Catalyst Trusteeship Limited. The transaction was executed on September 30, 2026, serving as security for debenture holders.

The disclosure was filed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Catalyst Trusteeship Limited acts as the Debenture Trustee on behalf of the debenture holders. The acquirer does not belong to the promoter or promoter group.

Details of the encumbrance

The pledge involves a significant portion of the company's equity. Prior to this acquisition, the holding of the acquirer and persons acting in concert was nil. The following table outlines the specific details of the share pledge:

The mode of acquisition is by way of pledge of equity shares. The salient feature of the securities acquired is the pledge over these shares in favour of the Debenture Trustee.

Capital structure implications

The company's equity share capital and total voting capital remained unchanged at INR 10,63,30,472 (10,63,30,472 shares of face value ₹1 each) before and after the said acquisition. However, the total diluted share/voting capital is reported at INR 10,90,11,222 (10,90,11,222 shares of face value ₹1 each).

What the numbers show

The pledge covers nearly half of the company's voting capital (47.95%). This high concentration indicates that a substantial portion of Bliss GVS Pharma's equity is currently locked up as collateral for debt instruments managed by the trustee. The slight difference between the percentage of voting capital (47.95%) and diluted capital (46.77%) reflects the presence of other dilutive securities or warrants not included in the immediate voting count but accounted for in the fully diluted basis.