SEPC to acquire up to 90% stake in UAE's Avenir for ₹1,530 crore via share swap
SEPC Limited will acquire up to 90% of UAE-based Avenir International Engineers and Consultants LLC for ₹1,530 crore via preferential allotment of 153 crore shares at ₹10 each. The deal, expected by December 2026, involves no cash outflow. SEPC also approved increasing authorized share capital to ₹600 crore and borrowing limits to ₹7,500 crore.
The acquisition of a substantial stake in an international company and significant increases in authorized capital and borrowing limits are material events that are likely to have a substantial impact on SEPC's business operations, financial structure, and market position.
The announcement details a significant strategic acquisition and capital enhancements that are expected to strengthen the company's financial position and international presence, indicating positive future prospects.
SEPC Limited has announced a series of strategic proposals, subject to shareholder and regulatory approvals, aimed at bolstering its capital base, enhancing financial flexibility, and expanding its international engineering presence.
A significant development is the proposed acquisition of up to 90% equity stake in Avenir International Engineers and Consultants LLC, Abu Dhabi, through a share swap. This will be achieved via a preferential allotment of 153 crore equity shares of SEPC at ₹10 per share, aggregating to ₹1,530 crore, to Avenir's shareholders. The transaction, expected to conclude by December 2026, involves no cash outflow.
Avenir International Engineers and Consultants LLC, established in 2011, is an engineering and design firm serving the oil & gas and civil infrastructure sectors in the UAE, with reported qualifications with ADNOC and a turnover of approximately AED 75.01 million in 2025. This acquisition is anticipated to strengthen SEPC's oil & gas capabilities and significantly enhance its Middle East presence.
Furthermore, the Board has approved an increase in the Company's Authorised Share Capital from ₹225 crore to ₹600 crore, subject to shareholder approval. Limits for loans, guarantees, securities, and investments are also set to be enhanced to ₹3,000 crore, and borrowing limits increased to ₹7,500 crore, to support future growth and expanding operations.
Shareholder approval for these proposals will be sought through a Postal Ballot via remote e-voting, with Alagar & Associates LLP appointed as the Scrutinizer.
Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, stated that these proposals are crucial enablers for SEPC's next growth phase. He highlighted that the Avenir acquisition complements engineering capabilities and provides access to the UAE's oil & gas ecosystem, while the capital and borrowing framework enhancements will support evolving business requirements, reinforcing a long-term strategy for a stronger, more diversified enterprise.
In FY26, SEPC reported Total Income of ₹1,085.8 crore, EBITDA of ₹108.9 crore, and Net Profit of ₹53.5 crore, a significant increase from FY25's Total Income of ₹646.0 crore and doubled net profit.
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