Anupam Rasayan India Ltd, a specialty chemicals manufacturer, has completed the acquisition of the remaining 47.95% stake in listed pharmaceutical company Bliss GVS Pharma Ltd for ₹162.74 crore.
The company acquired 5,09,84,595 equity shares of Bliss GVS Pharma, representing 47.95% of its share capital at ₹723.2883 per share.
Following the acquisition, Anupam Rasayan and the person acting in concert (PAC) collectively hold 5,32,36,264 shares, or 50.07% of Bliss.
Acquisition gives Anupam Rasayan control
The acquisition, together with 1,699 Bliss shares acquired by the PAC pursuant to the open offer, has resulted in Anupam Rasayan and the PAC acquiring control of Bliss GVS Pharma.
Following the transaction, Anupam Rasayan and the PAC have been designated as promoters of Bliss.
Bliss strengthens pharmaceutical presence
Bliss GVS Pharma is engaged in manufacturing pharmaceutical products, including suppositories, pessaries, tablets, capsules and other specialty formulations.
The acquisition is aimed at strengthening Anupam Rasayan’s presence across the pharmaceutical value chain, from key starting materials (KSMs) to finished dosage formulations.
Global footprint supports integration
Bliss has established capabilities in niche dosage forms, differentiated brands and multiple therapeutic segments, along with an international presence spanning more than 60 countries.
Sub-Saharan Africa is its dominant market. Bliss reported a turnover of ₹1,000.64 crore in FY24.
Deal targets synergies and forward integration
Anupam Rasayan said Bliss’s pharmaceutical capabilities, combined with its advanced chemistry expertise, will create a more integrated and diversified pharmaceutical manufacturing platform.
The acquisition is expected to support forward integration and generate synergies through innovation and operational efficiencies, with the companies targeting sustainable long-term growth and value creation.