KEC International completes 100% acquisition of Spur Infrastructure.

KEC International has completed the acquisition of Spur Infrastructure recently on , 13 October 2021 for Rs. 62 crore, making Spur Infrastructure, a wholly-owned subsidiary of the company.

KEC International, a global infrastructure EPC major and an RPG Group Company, on 18 September 2021, entered into a definitive agreement to acquire 100% equity in Spur Infrastructure for an enterprise value of Rs. 62 crore.

Spur Infrastructure was incorporated in 2016, is an Indian EPC company engaged in setting up of cross country oil & gas pipelines and city gas distribution networks. In the last three years, Spur Infrastructure had an annual revenue in excess of Rs. 100 crore, a profitable track record, technical expertise and experienced manpower. The company had an order book of Rs. 600 crore comprising of cross-country pipelines and city gas distribution network projects from marquee customers.

On a consolidated basis, the company posted a 34.8% fall in net profit to Rs. 46.14 crore on a 15.1% rise in net sales to Rs. 2,540 crore in Q1 FY22 over Q1 FY21.

Shares of KEC International rose 0.87% to Rs. 468.95 on BSE. KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.

BS