Mumbai, July 8 -- The acquisition will be undertaken by way of a preferential allotment of 153 crore equity shares of SEPC at an issue price of Rs 10 per share, aggregating to Rs 1,530 crore, to the shareholders of Avenir.

The transaction will be completed without any cash outflow and is expected to conclude by December 2026.

Established in 2011, Avenir International Engineers and Consultants LLC is an engineering and design company serving the oil & gas and other civil infrastructure sectors in the UAE. The company possesses established qualifications with ADNOC and reported a turnover of approximately AED 75.01 million during 2025.

SEPC stated that the proposed acquisition is expected to strengthen the company's capabilities in the o...