The acquisition will be executed through a share swap, with the total consideration for the 90% stake valued at AED 708 million, equivalent to ₹1,530 crore based on IBBI valuation. Approvals are expected within six months.
Avenir International, established in 2007, specialises in oil & gas Engineering, Front-End Engineering Design (FEED), and Project Management Consultancy (PMC) services, with a strong presence across the MENA region. The company has an order book exceeding AED 500 million and serves clients including ADNOC and DEWA.
Also Read: SEPC shares surge 10% after winning order worth ₹442 crore from water resources department in Delhi
The company reported turnovers of AED 73.93 million (₹171.89 crore) in 2024, AED 69.17 million (₹156.73 crore) in 2023, and AED 31.91 million (₹71.92 crore) in 2022. It holds ISO 9001, ISO 14001, and ISO 45001 certifications and is an ADNOC-approved vendor.
The acquisition aims to expand SEPC Limited’s international presence in the oil & gas sector and diversify revenue streams. The transaction does not involve any related party, and the promoter group has no interest in the target company.
Last year, SEPC Ltd said its joint venture with Furlong has received a letter of award valued at ₹86 crore for an aviation infrastructure project at Bihta Airport, Patna.
The contract has been awarded by JSC IA Vozrozhdenie India Private Ltd for the development of a new civil enclave. The scope of the project includes engineering, procurement and construction work for a new integrated terminal building, construction of a utility building and associated structures, and execution of an elevated road.
Also Read: SEPC-Furlong JV bags ₹86-crore contract for Patna’s Bihta Airport project
The project also covers electro-mechanical works and the installation of airport systems, IT systems and security systems. In addition, the contract includes comprehensive maintenance and operational support as part of the project deliverables. SEPC stated that the order strengthens its EPC order book through the SEPC-Furlong joint venture.
Shares of SEPC Limited ended at ₹4.68, down by ₹0.46, or 8.95%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: Mar 23, 2026 7:49 PM IST
