SEPC shares decline after board approval for acquiring 90% stake in Avenir International

Shares of SEPC Ltd. declined on Wednesday, July 8, after the company said its board has approved the proposed acquisition of up to 90% equity stake in UAE-based Avernir International Engineers and Consultants LLC, Abu Dhabi.The acquisition will be via a share swap transaction. As part of this, SEPC will carry out a preferential allotment of 153 crore equity shares at an issue price of ₹10 per share, aggregating to ₹1,530 crore, to the shareholders of Avenir, the company informed the exchanges. The transaction will be completed without any cash outflow and is expected to conclude by December.

This ₹10 issue price is a premium of 51% from current levels.
Avenir International Engineers and Consultants LLC is an engineering and design company which serves the oil and gas and other civil infrastructure sectors in the UAE. It has the established qualifications with Abu Dhabi National Oil Company (ADNOC) and reported a turnover of around AED 75.01 million in 2025, the company said.
The proposed acquisition is estimated to strengthen SEPC’s capabilities in the oil and gas sector and significantly enhance its presence across West Asia, it added.

SEPC’s board also approved an increase in the firm’s authorized share capital from ₹225 crore to ₹600 crore, via the creation of additional equity shares, subject to shareholder approval.

The board approved enhancing the limits under for loans, guarantees, securities and investments as well to ₹3,000 crore, it said.

Shares of SEPC are looking to recover from the opening lows, currently trading 1% lower at ₹6.6. The stock is down 34% so far this year.

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