Bliss GVS Pharma Limited announced that Independent Director Mr. Santosh Parab has completed his second and final term, ceasing to be a Director of the company effective the close of business hours on May 25, 2026. This transition impacts the company's board composition as Mr. Parab also vacated his positions on all committees he was part of, effective immediately. The company expressed gratitude for his guidance and contributions during his association.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing detailed that Mr. Santosh Parab, holding DIN 01622988, was re-appointed to the Board for a period of five consecutive years starting May 26, 2021. The completion of this specific tenure on May 25, 2026, marks the end of his statutory role as an Independent Director.

Details of Cessation

The company provided specific particulars regarding the change in directorship as required under SEBI regulations. The cessation was attributed strictly to the completion of the tenure and the conclusion of his second and final term.

The filing confirmed that no other reasons, such as resignation or removal, were associated with this departure. The necessary intimation has been submitted to the National Stock Exchange of India Limited and BSE Limited for record purposes.

Anupam Rasayan India Limited has initiated a mandatory open offer to acquire up to 26% of the fully diluted equity share capital of bliss gvs pharma . The offer price is fixed at ₹299 per share, aggregating to a total consideration of up to ₹8,29,03,27,552. SBI Capital Markets Limited has been appointed as the manager to the offer. This open offer is triggered pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a share purchase agreement executed on May 23, 2026.

The underlying transaction involves Anupam Rasayan acquiring a 43.30% stake in Bliss GVS Pharma Limited from existing promoters and public shareholders. The acquirer has agreed to purchase 4,58,03,024 fully paid-up equity shares at ₹299 per share, amounting to ₹13,69,51,04,176. The sellers include promoter group members Mr. Narsimha Shibroor Kamath, Dr. Vibha Gagan Sharma, and Ms. Shruti Vishal Rao, as well as public shareholders Mr. Gautam Rasiklal Ashra, Mr. Arjun Gautam Ashra, and M/s. Gulbarga Trading and Investment Private Limited.

Transaction Details

The acquisition will result in a change of control, with Anupam Rasayan becoming the promoter of Bliss GVS Pharma Limited. Upon completion, the existing promoter group will cease to be in control. The acquirer also holds a call option to purchase an additional 51,81,571 equity shares, representing 4.90% of the equity share capital, referred to as Option Shares. If these Option Shares are not acquired fully, the acquirer has a further option to acquire the residual Retained Shares within 6 to 12 months from the completion date at the prevailing market price, or at ₹299 per share if the market price is lower.

Open Offer and Regulatory Compliance

The open offer is for up to 26% of the total paid-up equity share capital of the company on a fully diluted basis. The transaction is subject to the fulfilment of conditions precedent and receipt of applicable statutory and regulatory approvals. The Detailed Public Statement (DPS) is expected to be published on or before June 1, 2026. The acquirer has confirmed that the offer is not conditional upon any minimum level of acceptance and that there is no intention to delist the target company.