The cash offer is being made by Anupam Rasayan India Ltd, together with Mates Visa Consultancy Private Limited, acting as the person acting in concert (PAC), in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Based on the offer size and offer price, the open offer is valued at approximately ₹829 crore.
Open offer details
The open offer is being made to acquire up to 26% of the expanded voting share capital of Bliss GVS Pharma from its public shareholders.
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The company said the offer is not a conditional offer under the takeover regulations and is not subject to any minimum level of acceptance. It also clarified that the offer is not a competing offer.
If the number of validly tendered shares exceeds the offer size, the shares will be accepted on a proportionate basis, subject to the acquisition limit of 2.77 crore shares.
The offer price may be revised upward in accordance with the takeover regulations or at the discretion of the acquirer and the PAC before the prescribed timeline. If revised, the same price will be payable for all shares tendered during the offer period.
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Approvals and timeline
According to the Letter of Offer, there are no statutory or regulatory approvals currently required by the acquirer or the PAC for acquiring shares tendered under the open offer. However, if any approvals become applicable before the close of the tendering period, the offer will remain subject to receipt of those approvals.
The company said eligible shareholders whose names appeared on the identified date of July 14, 2026, were dispatched the Letter of Offer on July 21, 2026.
The tendering period for the open offer will commence on July 28, 2026, and conclude on August 10, 2026. The last date for communicating acceptance or rejection and completing payment of consideration or returning shares is August 24, 2026. The company added that there has been no competing offer as of the date of the Letter of Offer.
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Shares of Anupam Rasayan India Ltd ended at ₹1,264.55, down by ₹3.70, or 0.29%, on the BSE.
