SEPC Limited (NSE: SEPC | BSE: 532945), a prominent EPC company specializing in industrial infrastructure, process plants, and water management, has announced a board-approved strategic proposal to acquire up to a 90% equity stake in Avenir International Engineers and Consultants LLC, based in Abu Dhabi. The acquisition will be executed through a share swap transaction involving a preferential allotment of 153 crore equity shares at ₹10 per share, aggregating to ₹1,530 crore, with no cash outflow. The transaction is expected to conclude by December 2026, subject to shareholder and regulatory approvals.
Strategic Acquisition Details
Founded in 2011, Avenir International Engineers and Consultants LLC is an engineering and design firm serving the oil & gas and civil infrastructure sectors in the UAE. The company holds established qualifications with ADNOC and reported a turnover of approximately AED 75.01 million in 2025. The acquisition is intended to bolster SEPC's engineering capabilities in the oil & gas sector and significantly expand its footprint in the Middle East.
In addition to the acquisition, SEPC's board has approved an increase in the company's authorized share capital from ₹2,250 crore (225 crore equity shares of ₹10 each) to ₹6,000 crore (600 crore equity shares of ₹10 each). This move enhances capital-raising capacity to support future growth plans. The board also approved raising borrowing limits to ₹7,500 crore to accommodate expanding business operations and long-term strategic initiatives.
Financial and Operational Impact
SEPC continues to build on its strong execution track record. In FY26, the company reported total income of ₹1,085.8 crore, EBITDA of ₹108.9 crore, and net profit of ₹53.5 crore, compared to total income of ₹646.0 crore in FY25, with net profit more than doubling year-over-year. The proposed acquisition and capital structure enhancements are designed to support larger and more complex projects, reinforcing SEPC's growth platform.
To obtain shareholder approval, the company will conduct a postal ballot through remote e-voting, with Alagar & Associates LLP, Company Secretaries, appointed as scrutinizer.
Management Commentary
Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, commented: "The proposals approved by the Board represent important enablers for SEPC's next phase of growth. As we continue to strengthen our execution capabilities and expand our market presence, it is equally important to build the financial and organizational capacity required to pursue larger and more complex opportunities. The proposed acquisition of Avenir International Engineers and Consultants LLC is intended to complement our engineering capabilities and provide access to the UAE's oil & gas ecosystem, while the proposed enhancement of our capital and borrowing framework is designed to support the Company's evolving business requirements. Together, these initiatives reinforce our long-term approach of building a stronger and more diversified engineering enterprise."
About SEPC Limited
SEPC Limited, formerly Shriram EPC Limited, is a well-established EPC company offering turnkey solutions across water & wastewater, roads, industrial infrastructure, and mining sectors. The company specializes in design, procurement, construction, and commissioning of large infrastructure projects across India, serving clients including central and state government agencies.
