SEPC to acquire Avenir International Engineers, Abu Dhabi in all share deal

SEPC, which was earlier Shriram EPC, has said that it will acquire an Abu-Dhabi based company Avenir International Engineers and Consultants LLC, which is into engineering and design for oil, gas and other civil-related services in the UAE. Avenir has qualifications with ADNOC (Abu Dhabi National Oil Company), the company has said.

The acquisition will be undertaken by way of preferential allotment of 1.53 billion shares of SEPC to the shareholders of Avenir, at issue price of ₹10 per share aggregating to ₹1,530 crore. The transaction will be completed without any cash outflow and is expected to conclude by December 2026.

Avenir was established in 2011 and reported turnover of AED75.01 million [~₹189 crore] during 2025.

SEPC’s board has also approved an increase in the company’s share capital from ₹2,250 crore to ₹6,000 crore, and increased its borrowing limits to ₹7,500 crore.