SEPC to acquire up to 90 percent stake in UAE-based Avenir via share swap worth Rs 1,530 cr

SEPC · price

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₹6.68

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AI summary

SEPC Limited will acquire up to 90 percent stake in UAE-based Avenir International Engineers and Consultants LLC via share swap, allotting 153 crore shares at Rs 10 each, totalling Rs 1,530 crore. No cash outflow. Avenir serves UAE oil and gas and infrastructure sectors. Deal expected by December 2026. Board also approved raising authorised share capital from Rs 225 cr to Rs 600 cr, borrowing limit to Rs 7,500 cr, and investment limit to Rs 3,000 cr. Subject to shareholder approval via postal ballot.

Likely market impact

Expands SEPC's UAE oil and gas presence. 153 crore share issuance means major dilution. Growth push but hinges on shareholder approval.