Mark AB Capital LLC picks up 26.48% stake in SEPC
28th Sep 2022

Dubai-based Mark AB Capital LLC has picked up 26.48 per cent stake in city-based SEPC (formerly Shriram EPC) through an equity investment of Rs 350 crore. The move was part of the SEPC’s restructuring exercise under the stressed asset provisions of the Reserve Bank of India.

Mark AB Capital LLC is an investment company headquartered in Dubai and manages assets of about USD 1 billion. Following the recapitalisation, Mark AB Capital will become the new promoter of SEPC. As part of the restructuring exercise, the consortium of banks has converted part of the company's debts into Compulsorily Convertible Debentures (CCDs) and Non-Convertible Debentures.

SEPC provides end-to-end solutions to engineering challenges offering multi-disciplinary design, engineering, procurement, construction and project management services.