SEPC Announces ₹1,530 Crore UAE Acquisition to Expand Presence in Middle East Oil & Gas Sector
SEPC Limited (NSE: SEPC | BSE: 532945) has unveiled one of its biggest strategic moves in recent years by announcing the acquisition of up to 90% equity stake in UAE-based Avenir International Engineers and Consultants LLC. The transaction, valued at ₹1,530 crore, marks a significant milestone in the Chennai-headquartered engineering company’s journey toward becoming a stronger international EPC player.
The acquisition will help SEPC strengthen its footprint in the Middle East, particularly in the high-growth oil and gas engineering sector, while also expanding its engineering and design capabilities across international markets.
SEPC to Acquire Avenir Through a Share Swap Deal
Unlike conventional acquisitions that require large cash payments, SEPC has structured this transaction as a share swap, ensuring there is no immediate cash outflow from the company.
Under the agreement, SEPC will issue 153 crore equity shares through a preferential allotment at ₹10 per share, resulting in a transaction value of ₹1,530 crore.
This approach enables the company to pursue a major international expansion while preserving liquidity for future business opportunities.
Why Avenir International Matters
Founded in 2011, Avenir International Engineers and Consultants LLC is an established engineering consultancy based in the UAE. The company specializes in engineering, design, and consulting services for the oil & gas and civil infrastructure sectors.
One of Avenir’s biggest strengths is its qualification to work with ADNOC, one of the Middle East’s leading energy companies. The company reported a turnover of approximately AED 75.01 million during 2025, reflecting its strong presence in the regional engineering market.
With this acquisition, SEPC gains access to:
- A well-established engineering business in the UAE
- Strong relationships within the Middle East oil and gas industry
- Enhanced engineering and design expertise
- New opportunities across infrastructure and energy projects in the Gulf region
The transaction is expected to significantly strengthen SEPC’s international order pipeline and improve its competitiveness in global EPC markets.
SEPC Strengthens Financial Capacity for Future Growth
Alongside the acquisition announcement, SEPC’s Board of Directors approved several important proposals aimed at supporting the company’s long-term expansion plans.
These include:
- Increasing the authorised share capital from ₹225 crore to ₹600 crore
- Raising the limit for loans, guarantees, investments, and securities to ₹3,000 crore
- Increasing the company’s borrowing limit to ₹7,500 crore
These approvals provide SEPC with greater financial flexibility as it pursues larger domestic and international infrastructure projects.
Management Confident About Next Growth Phase
Commenting on the development, Managing Director Venkataramani Jaiganesh described the acquisition and financial restructuring as key steps in preparing SEPC for its next phase of growth.
According to the management, these initiatives are intended to strengthen both the company’s financial capacity and organizational capabilities, enabling it to execute larger and more complex engineering projects across international markets.