Patel Engineering announces ₹3.99 bn rights issue

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

The issue opens on December 12, 2025, and closes on December 19, 2025. Finalization of the basis of allotment is expected around December 22, 2025, with shares credited and listed by December 23, 2025. The net proceeds of ₹3,489.68 million are intended for prepayment or repayment of outstanding borrowings and for general corporate purposes.

The company's promoters and promoter group have confirmed their partial subscription to at least 5% of the total issue size. The rights entitlements are tradable on the secondary market from December 12 to December 16, 2025. Investors can apply through the ASBA facility.