SEPC share price jumped over 7% on Tuesday after the company announced acquisition of a majority stake in an Abu Dhabi-based company to expand into the global oil and gas sector. The penny stock rallied as much as 7.09% to ₹4.98 apiece on the BSE.
EPC solutions provider SEPC announced that its Board of Directors approved the acquisition of a 90% equity stake in Avenir International Engineers and Consultants LLC, Abu Dhabi, marking an expansion and presence in the high-growth Oil & Gas engineering sector, particularly across the Middle East and North Africa (MENA) region.
The transaction involves the acquisition of a 90% stake in Avenir International Engineers and Consultants LLC through a share swap arrangement, valuing the deal at approximately 90% of AED 708 million (around ₹1,530 crore). The completion of the transaction is expected within six months, subject to necessary approvals from lenders and shareholders, SEPC said in a regulatory filing on March 24.
Avenir International Engineers and Consultants LLC is an engineering services company specializing in Oil & Gas Engineering, Front-End Engineering Design (FEED), and Project Management Consultancy (PMC).
With a strong presence in the MENA region and a robust order book of approximately AED 500 million, Avenir brings deep domain expertise and established client relationships with leading entities such as ADNOC and DEWA.
“The acquisition is expected to enable SEPC’s entry into the global Oil & Gas EPC and consulting ecosystem, strengthen its international execution capabilities and geographic diversification, provide access to high-margin, technology-driven engineering services, create a scalable platform for growth in the MENA region, and enhance long-term value creation through synergies in engineering, procurement, and project execution,” the company said.
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.
SEPC Share Price Performance
SEPC share price has declined 40% in one month, and has plunged 52% on a year-to-date (YTD) basis. The penny stock has slumped 63% in six months, and has fallen 68% in one year. SEPC share price has tanked 71% in two years and 57% in three years.
At 11:25 AM, SEPC share price was trading 2.80% higher at ₹4.78 apiece on the BSE.
