Patel Engineering announces ₹3.99 billion rights issue to pare debt

Patel Engineering Limited has announced a rights issue of up to 147,765,820 fully paid-up equity shares, each with a face value of ₹1, at an issue price of ₹27.00 per share (including a premium of ₹26.00). This initiative aims to raise ₹3,989.68 million, with shares offered in a ratio of 7 rights equity shares for every 40 fully paid-up equity shares held by eligible shareholders as of the record date, December 4, 2025.

The issue, approved by the company's allotment committee on November 28, 2025, is primarily intended for prepayment and/or repayment of certain outstanding borrowings and for general corporate purposes. Estimated net proceeds are ₹3,489.68 million. The issue period is scheduled from December 12, 2025, to December 19, 2025, with finalization of the basis of allotment and credit of equity shares slated for December 22 and 23, 2025, respectively. Listing of shares is expected by December 23, 2025.