Bliss GVS Pharma open offer: ₹829 cr at ₹299 in 2026

Why Bliss GVS Pharma is in focus

Bliss GVS Pharma Limited has seen two material corporate developments in July 2026, one linked to shareholder returns and the other to a change in control process. The company announced a record date for a final dividend for FY2025-26, subject to shareholder approval at its annual general meeting (AGM). Separately, Anupam Rasayan India Limited has initiated a mandatory open offer under SEBI takeover rules to acquire up to 26% of Bliss GVS Pharma’s expanded voting share capital.

The open offer follows a share purchase agreement (SPA) to acquire a larger promoter and public shareholder stake. The process includes a SEBI filing, a detailed schedule for tendering, and funding arrangements including an escrow deposit. Investors are tracking dates, pricing, and the acceptance terms because the open offer is not conditional on any minimum acceptance level.

Final dividend: record date and AGM timeline

Bliss GVS Pharma announced July 8, 2026 as the record date for a final dividend of ₹1.00 per share for FY2025-26. The dividend remains subject to approval at the company’s 41st AGM scheduled for July 15, 2026. The record date determines which shareholders are eligible to receive the dividend if it is approved.

This announcement sits alongside the takeover-related developments, which can also influence shareholder attention and timelines. The company has not stated any linkage between the dividend and the open offer process in the provided information. Investors typically monitor both corporate actions closely, especially when key dates fall in the same month.

Anupam Rasayan’s mandatory open offer: what was filed

Anupam Rasayan India Limited filed the Draft Letter of Offer with SEBI for a mandatory open offer to acquire up to 26% of Bliss GVS Pharma Limited at an offer price of ₹299 per equity share. The filing covers the acquisition of up to 2,77,26,848 equity shares, representing 26.00% of the expanded voting share capital.

The draft sets out that the total consideration for the open offer, assuming full acceptance, is ₹829.03 crore (₹8,29,03,27,552.00). The open offer is being made to public shareholders and is stated to be pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The company disclosed that it received a Public Announcement dated May 23, 2026 issued by SBI Capital Markets Limited in relation to the open offer. The same update references disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What triggered the open offer

The open offer is triggered by a share purchase agreement dated May 23, 2026. Under this SPA, the acquirer agreed to purchase 4,58,03,024 equity shares, representing 43.30% of Bliss GVS Pharma’s equity share capital, from existing promoters and public shareholders.

In deal highlights shared in the provided text, Anupam Rasayan has stated it received board approval for a strategic acquisition of up to 74.20% equity stake and control in Bliss GVS Pharma. The structure described includes the SPA stake purchase, the mandatory open offer, and an optional acquisition of remaining shares up to 4.90% at the SPA price or prevailing market price.

The same deal summary pegs the SPA consideration at ₹1,369.51 crore and the open offer consideration at ₹829.03 crore, taking the total consideration for the initial stake and open offer to approximately ₹2,198.54 crore.

Offer size, price, and how the price was set

The open offer covers up to 2,77,26,848 fully paid-up equity shares of face value ₹1 each. The offer price is fixed at ₹299.00 per equity share, and the draft states the price was determined in accordance with Regulation 8(2) of the SEBI (SAST) Regulations.

As described, the offer price reflects the highest of the negotiated price under the share purchase agreement and the volume weighted average market price. The open offer is explicitly described as not being conditional upon any minimum level of acceptance.

Funding and escrow arrangements disclosed

To secure the open offer, the acquirer has deposited ₹160.00 crore (₹160,00,00,000.00) into an escrow account with Axis Bank Limited. The acquirer has also disclosed financing arrangements through cash and cash equivalents of ₹394.00 crore and callable money of ₹644.00 crore.

In addition, the disclosure refers to a non-binding high confidence letter for potential acquisition financing of ₹2,000.00 crore. The provided information does not add further terms for this potential financing beyond its described nature.

Key open offer dates: identified date, tendering, and payment

The tentative schedule in the provided text sets July 2, 2026 as the identified date for determining eligible shareholders for the open offer process. The tendering period is scheduled to start on July 16, 2026 and close on July 29, 2026.

The last date for payment of consideration or refund of shares is stated as August 12, 2026. These dates frame the timeline for shareholders who may consider tendering shares under the open offer.

Bliss GVS Pharma background and recent operational update

Bliss GVS Pharma is described as a listed company engaged in manufacturing pharmaceutical products. In the deal highlight text provided, Bliss GVS Pharma’s FY26 consolidated turnover is stated at ₹1,000.64 crore, and consolidated net worth as on March 31, 2026 is stated at ₹1,231.76 crore.

Separately, the company has secured WHO GMP compliance confirmation for its Palghar manufacturing facility from the World Health Organization. The provided information does not include additional details on the scope of products or inspection outcomes beyond the confirmation statement.

Market datapoints cited in the source material

The provided text includes multiple price and market capitalization datapoints from different timestamps and contexts. One snapshot states that as on 07-Jan-2026 15:23:01 IST, BLISSGVS was at ₹188.17, up ₹5.69 (3.12%). Another set of figures states the current price of Bliss GVS Pharma Ltd is ₹505.95, and that as of Jul 06, 2026, the stock is trading at ₹500.00 with a previous close of ₹505.95.

Market capitalization is cited in two places: one table lists market cap as ₹1,894Cr, while another line states market capitalization is currently ₹5365.91 (unit not specified in the provided text). Since the figures are presented without a single consistent timestamp and unit convention, readers should treat them as source snapshots rather than a single reconciled market view.

Key deal and company metrics at a glance

Company and registrar contact details disclosed

The registered office address listed for Bliss GVS Pharma Limited is 102, Hyde Park, Sakivihar Road, Andheri (East), Mumbai, Maharashtra 400072. The telephone number listed is 022-42160000, fax 022-28563930, and email info@blissgvs.com, with website http://www.blissgvs.com.

The registrar details provided are for Link Intime at C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400083, Maharashtra. The listed telephone numbers are 022-49186270 and 022-49186200, fax 022-49186060, and email rnt.helpdesk@linkintime.co.in.

Conclusion

Bliss GVS Pharma’s July 2026 calendar combines a shareholder dividend event with a takeover-related open offer process. The company has set July 8, 2026 as the record date for a ₹1.00 per share final dividend for FY2025-26, subject to approval at the July 15 AGM. In parallel, Anupam Rasayan’s draft filing with SEBI outlines an open offer to acquire up to 26% at ₹299 per share, with tendering scheduled from July 16 to July 29, 2026 and payment due by August 12, 2026.