Patel Engineering: No Deviation in Rights Issue Proceeds Utilization

Patel Engineering Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, as required by SEBI regulations. The report, issued by Care Ratings Limited, confirms that there has been no deviation in the utilization of funds raised through its Rights Issue from the stated objects. The company's Board of Directors and Audit Committee have reviewed and taken this report on record. The Rights Issue, which aimed to raise Rs. 398.97 crore, had net proceeds of Rs. 348.97 crores after accounting for Rs. 50 crores in issue expenses.