Anupam Rasayan enters formulations business with ₹1,369 cr Bliss GVS Pharma acquisition

Anupam Rasayan India Ltd

on Saturday approved the acquisition of up to 74.2% stake in pharmaceutical formulations maker Bliss GVS Pharma Ltd, marking a major expansion into finished dosage formulations and integrated life sciences manufacturing.

The transaction includes the acquisition of 43.3% equity stake in Bliss GVS Pharma at ₹299 per share for an estimated consideration of around ₹1,369 crore. The company will also launch an open offer to acquire an additional 26% stake from public shareholders at the same price.

Ahead of the announcement, shares of Anupam Rasayan India Ltd closed 1.11% lower at ₹1,359 on the NSE on Friday.

The acquisition will be financed through a combination of ₹300 crore term loan funding and non-controlling non-voting equity instruments for the remaining amount.

Anupam Rasayan said the acquisition aligns with its long-term strategy of building an integrated global life sciences and specialty pharmaceutical platform. The company believes the deal will strengthen its presence across the pharmaceutical value chain, spanning key starting materials (KSMs) to finished dosage formulations.

Bliss GVS Pharma, established in 1984, is a pharmaceutical formulations company with a strong presence across regulated and semi-regulated markets, particularly in Africa, Asia and Latin America. The company is known globally for its leadership in suppositories and pessaries and operates manufacturing facilities approved by US FDA, WHO-GMP and EU-GMP.

Commenting on the acquisition, Anand Desai, Managing Director of Anupam Rasayan India Ltd, said the transaction would create a broader integrated pharmaceutical manufacturing ecosystem with deeper backward integration, stronger global reach and enhanced customer engagement.

He added that the combined platform would unlock synergies through expanded product offerings, improved regulated market presence and accelerated innovation, particularly across Europe and the Americas, while reinforcing the company’s long-term growth strategy.