Rights Issue14 May 2026, 08:11 pm
Patel Engineering: No Deviation in Rights Issue Proceeds
AI Summary
Patel Engineering Ltd. reported no deviation or variation in the utilization of proceeds from its Rights Issue for the quarter ended March 31, 2026, as per Regulation 32 of SEBI guidelines. The funds were raised on December 22, 2025, and the statement confirming nil deviation has been reviewed by the Audit Committee and Board of Directors. The total amount raised was ₹3,989.68 million.
Key Highlights
- Patel Engineering confirms no deviation in Rights Issue proceeds for Q4 FY26.
- Rights Issue raised ₹3,989.68 million on December 22, 2025.
- Audit Committee and Board of Directors reviewed the statement.
- Proceeds utilized for repayment of borrowings, general corporate purposes and issue expenses.
Price Impact
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