AMI Holdings Private Limited made an offer to acquire a 10.11% stake in Sicagen India Limited (BSE : 533014) for approximately INR 130 million on April 29, 2022. AMI Holdings offered cash price INR 32 per share to acquire 4 million shares, representing approximately 10.11% stake in Sicagen India. The offer is not conditional upon any minimum level of acceptance.

As of July 9, 2022, the Board of Sicagen has approved the deal. Gaurav Khandelwal and Elton D'souza of Saffron Capital Advisors Private Limited acted as manager to offer of AMI Holdings. The deal is expected to close on July 5, 2022.