SEPC to acquire Abu Dhabi engineering firm in ₹1,530 crore all-stock deal
What's the deal? India's SEPC LimitedDealroom has a profile for this one. Try Dealroom → will acquire up to 90% of Abu Dhabi-based Avenir International Engineers and ConsultantsDealroom has a profile for this one. Try Dealroom → LLC in an all-stock transaction valued at up to ₹1,530 crore. The company's board approved the move alongside a sharp increase in its authorized share capital on July 6, 2026.
The terms: SEPC will issue up to 153 crore equity shares at ₹10 each to fund the purchase — a share swap rather than a cash deal. The acquisition, first approved on March 23, 2026 following a Share Purchase Agreement, is targeted for completion by the end of December 2026.
What's the endgame? The deal takes SEPC into the oil and gas sector across the Middle East. Avenir, founded in 2011, provides engineering and design services and holds qualifications with ADNOCDealroom has a profile for this one. Try Dealroom →, the UAE's state energy company.
Why now? SEPC also raised its authorized share capital from ₹225 crore to ₹6,000 crore, lifting its share count from 225 crore to 600 crore. It increased its borrowing limit to ₹7,500 crore and its cap on loans, guarantees, and investments to ₹3,000 crore — clearing the way for larger cross-border commitments.
The proposed allottees for the preferential share issue include Avenir Oil Field Equipment LLC, Tranvel Holidays Private Limited, and Zoomstud Impex Private Limited, all non-promoters. SEPC said the acquisition is not a related party transaction.
What could go wrong? Completion depends on member approval, which SEPC is seeking through a postal ballot and remote e-voting, with M/s Alagar & Associates LLP appointed as scrutinizer. The share swap will also dilute existing holders.
The signal: The deal fits SEPC's post-turnaround push to expand internationally and use equity as currency for growth after stabilizing its balance sheet. Following an EPC order win in the UAE and a framework agreement in Saudi Arabia, buying an ADNOCDealroom has a profile for this one. Try Dealroom →-qualified firm deepens its Middle East footprint. SEPC shares slipped 1.05% to ₹6.61 on the day.
Read more: investoomarket.com
Image credit: Imran Shahabuddin
