NSEGeneral Updates29 Sept 2026 · 29 Sept 2026, 12:00 am
General Updates
Anupam Rasayan India Limited · ANURAS
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Anupam Rasayan India Limited has acquired 22,50,000 equity shares of Bliss GVS Pharma Limited through an on-market transaction, taking its total stake to 47.95% of Bliss's equity share capital.
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Earnings Impact5/10
Growth Catalyst8/10
Governance Concern2/10
Regulatory Risk6/10
Balance Sheet Risk4/10
Liquidity Impact9/10
Market Sentiment5/10
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Full Announcement
Anupam Rasayan India Limited has informed the Exchange about acquisition of equity shares of Bliss GVS Pharma Limited.
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ANURAS_29092026000001_ARILSLDSTX20260928066Reg30.pdf
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ANUPAM RASAYAN INDIA LTD.
ARILSLDSTX20260928066 Date: September 28, 2026
To, T o ,
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, ‘Exchange Plaza’, C-1, Block-G,
Dalal Street, Bandra Kurla Complex, Bandra (East),
Mumbai-400001, India Mumbai-400051, India
SCRIP CODE: 543275 SYMBOL: ANURAS
Dear Sir/Madam,
Subject: Intimation of acquisition of equity shares of Bliss GVS Pharma Limited (“Bliss”) under the share
purchase agreement dated 23 May 2026 (“SPA”) executed among Anupam Rasayan India Limited (the
“Acquirer” or the “Company”) and Narsimha Shibroor Kamath, Vibha Gagan Sharma, Shruti Vishal Rao,
Gautam Rasiklal Ashra, Arjun Gautam Ashra and Gulbarga Trading and Investment Private Limited
(collectively “Sellers”) read with the deed of adherence dated 17 July 2026 executed between the Acquirer
and Mates Visa Consultancy Private Limited (the “PAC”) pursuant to the open offer (as defined below),
and other acquisition of equity shares of Bliss.
Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“Listing Regulations”).
This is in continuation of our intimations on 23 May 2026 and 17 July 2026, and has reference to the public
announcement dated 23 May 2026 (“Public Announcement”), the detailed public statement dated 30 May
2026 (“Detailed Public Statement”), the draft letter of offer dated 8 June 2026 (“Draft Letter of Offer”), the
addendum to the Public Announcement, Detailed Public Statement and Draft Letter of Offer dated 17 July
2026, the letter of offer dated 18 July 2026 (“Letter of Offer”), issued in relation to the open offer announced
in accordance with Regulation 3(1) and 4 of the Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations, 2011 (“Open Offer”).
Upon the closure of the tendering period and the completion of payment of consideration, all 1,669 equity
shares validly tendered by eligible public shareholders in the Open Offer (representing 0.00% of the equity
share capital of Bliss) were credited to the demat account of the Acquirer on 24 August 2026. The relevant
documents in relation to the Open Offer are available here.
Further, today, on 28 September 2026, the Company has acquired further 22,50,000 (Twenty Two Lakh Fifty
Thousand) equity shares of Bliss through an on-market transaction. The details as required under Regulation
30 of the Listing Regulations read with Paragraph 1 of Part A of Schedule III of the Listing Regulations and
paragraph 1 of Annexure 18 of the SEBI circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated
January 30, 2026 (as amended) (“SEBI Master Circular”), for the acquisition of 22,50,000 (Twenty Two Lakh
Fifty Thousand) equity shares of Bliss has been set out in Annexure A.
Pursuant to the consummation of the transaction contemplated in the SPA (i.e., the Underlying Transaction
(as defined in the Letter of Offer)) on 28 September 2026, the Acquirer has completed the acquisition of
5,09,84,595 equity shares of Bliss, representing 47.95% of the equity share capital of Bliss. For more
information on the Underlying Transaction, please refer to paragraphs 7 to 9 of Part A (Background to the
Registered Office: Tel. : +91-261-2398991-95
Office Nos. 1101 to 1107, 11th Floor, Icon Rio, Fax : +91-261-2398996
Behind Icon Business Centre, Dumas Road, E-mail : office@anupamrasayan.com
Surat-395007, Gujarat, India.
Website : www.anupamrasayan.com
CIN - L24231GJ2003PLC042988
ANUPAM RASAYAN INDIA LTD.
Open Offer) of Section III (Details of the Open Offer) of the Letter of Offer, available here and the disclosure
made by the Company on 23 May 2026, available here.
Following the aforesaid acquisitions, together with 1,699 equity shares of Bliss acquired by the PAC pursuant
to the Open Offer, the Acquirer and the PAC collectively hold an aggregate of 5,32,36,264 equity shares of
Bliss, representing 50.07% of the equity share capital of Bliss.
Accordingly, the Acquirer and the PAC have acquired control of Bliss and have been designated as
‘promoters’ of Bliss with effect from 28 September 2026. In this regard, please note the disclosure made by
Bliss regarding the outcome of the meeting of its board of directors held today on 28 September 2026
available here, wherein the board of directors of Bliss have inter alia noted (i) the change of control of Bliss;
and, (ii) the designation of Acquirer and the PAC as promoters of Bliss.
This intimation will also be hosted on the website of the Company at www.anupamrasayan.com.
We request you to kindly take note the same.
Thanking you,
Yours Faithfully,
For Anupam Rasayan India Limited
Ashish Gupta
Company Secretary & Compliance Officer
Encl.: As above
Registered Office: Tel. : +91-261-2398991-95
Office Nos. 1101 to 1107, 11th Floor, Icon Rio, Fax : +91-261-2398996
Behind Icon Business Centre, Dumas Road, E-mail : office@anupamrasayan.com
Surat-395007, Gujarat, India.
Website : www.anupamrasayan.com
CIN - L24231GJ2003PLC042988
ANUPAM RASAYAN INDIA LTD.
Annexure A
Details pursuant to Clause 1 of Para A of Part A of Schedule III of the Listing Regulations read with Para 1,
Annexure 18 of the SEBI Master Circular
S. No. Particulars Details
1. Name of the target entity, details in brief such as size, turnover Bliss GVS Pharma Limited (“Target
etc.; Company”) is a public listed
company primarily engaged in the
business of manufacturing of
pharmaceutical products including
suppositories, pessaries, tablets,
capsules, and other specialty
pharmaceutical products.
• Turnover of the Target Company
as on March 31, 2026 (on a
consolidated basis): Rs.
1000,64,26,000
• Net worth of the Target
Company as on March 31, 2026 (on
a consolidated basis): Rs.
1231,76,00,000
2. Whether the acquisition would fall within related party No. The Alternate Transaction does
transaction(s) and whether the promoter/promoter not fall within the definition of a
group/group companies have any interest in the entity being related party transaction.
acquired? If yes, nature of interest and details thereof and
whether the same is done at “arm’s length”; Further, the promoter/ promoter
group/ group companies of the
Company do not have any interest
in the Target Company.
3. No. The Alternate Transaction does not fall within the definition Pharmaceuticals
of a related party transaction.
Further, the promoter/ promoter group/ group companies of
the Company do not have any interest in the Target Company.
4. Objects and impact of acquisition (including but not limited to, The Company’s proposed
disclosure of reasons for acquisition of target entity, if its acquisition of the Target Company
business is outside the main line of business of the listed entity); would strategically strengthen the
Company’s presence across the
pharmaceutical value chain,
spanning KSMs to finished dosage
formulations. The Target
Company’s established capabilities
Registered Office: Tel. : +91-261-2398991-95
Office Nos. 1101 to 1107, 11th Floor, Icon Rio, Fax : +91-261-2398996
Behind Icon Business Centre, Dumas Road, E-mail : office@anupamrasayan.com
Surat-395007, Gujarat, India.
Website : www.anupamrasayan.com
CIN - L24231GJ2003PLC042988
ANUPAM RASAYAN INDIA LTD.
in niche dosage forms,
differentiated brands, strong
international footprint, and
expertise across multiple
therapeutic segments, combined
with the Company’s advanced
chemistry capabilities, would create
a more integrated and diversified
pharmaceutical manufacturing
platform. The acquisition is
expected to enhance forward
integration and unlock significant
synergies through innovation and
operational efficiencies, thereby
supporting sustainable long-term
growth and value creation.
5. Brief details of any governmental or regulatory approvals Not Applicable
required for the
acquisition;
6. Indicative time The acquisition of additional
period for completion of the acquisition; securities has been completed
today (28 September 2026).
7
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