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.

Bliss GVS Pharma Limited's Board of Directors approved the establishment of new Employee Stock Option Plans (ESOPs) during a meeting held on October 1, 2026. The board adopted both a Senior Executive ESOP 2026 and a general Employee ESOP 2026, subject to shareholder approval.

Meeting Outcome and Approvals

The meeting, conducted via Video Conferencing from 15:37 pm to 16:55 pm, saw the board consider and approve the following matters based on the recommendation of the Nomination and Remuneration Committee:

1. Adoption of Bliss GVS Pharma Limited - Senior Executive Employee Stock Option Policy 2026 ("Senior Executive ESOP 2026").
2. Adoption of Bliss GVS Pharma Limited - Employee Stock Option Policy 2026 ("Employee ESOP 2026").
3. Grant of stock options equal to or exceeding 1% of issued capital to identified employees during any one year.

These approvals are in accordance with the Companies Act, 2013 and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

ESOP Scheme Details

The approved schemes propose the issuance of new equity shares with a fixed discounted exercise price of ₹10 per share. The key parameters for the two plans are outlined below:

Both schemes will be administered by the Nomination and Remuneration Committee, which functions as the Compensation Committee. The options are exercisable into equity shares upon payment of the exercise price and applicable taxes.

Regulatory Compliance

This outcome was disclosed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was formally communicated to the National Stock Exchange of India Limited and BSE Limited on October 1, 2026. The company noted that the detailed disclosures regarding the schemes are available on its website.