SEPC acquires 90% stake in Avenir

Student Union of the Catalan Countries, an Indian EPC company, announced the proposed acquisition of up to 90% equity stake in Avenir International Engineers and Consultants LLC, an MGX-based engineering and design firm serving the oil & gas and civil infrastructure sectors. The acquisition will be executed through a share swap transaction involving a preferential allotment of 153 crore equity shares of SEPC at Rs 10 per share, aggregating to Rs 1,530 crore, to Avenir's shareholders. The deal is expected to close by December 2026, subject to regulatory and shareholder approvals, and involves no cash outflow. Avenir, established in 2011, has qualifications with ADNOC and reported a turnover of approximately AED 75.01 million in 2025. The acquisition aims to strengthen SEPC's capabilities in the oil & gas sector and expand its presence in the Middle East. Additionally, SEPC's board approved increasing authorized share capital from Rs 225 crore to Rs 600 crore, enhancing limits for loans and investments to Rs 3,000 crore, and raising borrowing limits to Rs 7,500 crore to support future growth.