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

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SEPC · price

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AI summary

SEPC Limited will acquire up to 90 percent stake in UAE-based Avenir International Engineers and Consultants LLC through a share swap, allotting 153 crore equity shares at Rs 10 each (totaling Rs 1,530 crore) to Avenir shareholders. No cash outflow. Avenir serves oil and gas and civil infrastructure in UAE, has ADNOC qualifications, and reported turnover of about AED 75 million in 2025. Deal expected by December 2026. Board also approved an authorised share capital hike to Rs 6,000 crore and borrowing limit increase to Rs 7,500 crore. All proposals subject to shareholder approval via postal ballot.

Likely market impact

Acquisition boosts SEPC's UAE oil and gas presence, but 153 crore new shares worth Rs 1,530 cr will heavily dilute existing shareholders.