Anupam Rasayan to Acquire up to 43% Stake in Bliss GVS Pharma for Around ₹1,369 Crore

Specialty chemicals maker Anupam Rasayan India has signed an agreement to acquire up to 43.3 per cent stake in pharmaceutical formulations company Bliss GVS Pharma Ltd for an estimated Rs 1,369.51 crore and launch an open offer to acquire a further 26 per cent in the firm, according to a statement The Surat-based company will acquire a 43.3 per cent stake at Rs 299 per share for Rs 1,369.51 crore, and launch a mandatory open offer for an additional 26 per cent from public shareholders at the same price, Anupam Rasayan said in a late-night regulatory filing.

"We have entered into a definitive agreement to acquire 43.3-48.2 per cent equity stake and are making an open offer to the public shareholders of Bliss GVS Pharma," Anupam Rasayan India Managing Director Anand Desai said.

The acquisition will be funded through a Rs 300 crore term loan, with the remaining amount financed via a non-controlling, non-voting equity instrument.

"This will strategically strengthen our presence across the pharmaceutical value chain, spanning key starting materials to finished dosage formulations," Desai added.

Bliss GVS Pharma, listed on the NSE and BSE, develops and exports a range of formulations including suppositories, tablets, capsules and injectables.

The company, established in 1984, holds EU-GMP certification and operates manufacturing facilities in Maharashtra and Daman with approvals from the USFDA and the World Health Organization.

The company has a portfolio of over 150 branded formulations and is among India's largest manufacturers of suppositories and pessaries, with a strong presence across Africa, Asia, and Latin America.

Anupam Rasayan said the combined entity would create an integrated pharmaceutical manufacturing platform with deeper backward integration and expanded reach in regulated markets, including Europe and the United States, aided by its earlier acquisition of Jayhawk.

The specialty chemicals maker reported a 40 per cent jump in consolidated net profit to Rs 222.19 crore for fiscal year 2025-26, up from Rs 159.9 crore a year earlier.