Patel Engineering Reports Nil Deviation in Rights Issue Fund Utilization

Patel Engineering Ltd has confirmed no deviation or variation in the utilization of proceeds from its Rights Issue for the quarter ended June 30, 2026. The total amount raised was ₹3,989.68 million. Funds were allocated to repayment of borrowings (₹2,540.00 million), general corporate purposes (₹949.68 million), and issue expenses (₹500.00 million). The actual utilization shows ₹2,540.00 million for borrowings, ₹971.23 million for general corporate purposes, and ₹478.45 million for issue expenses. A minor adjustment of ₹21.55 million was transferred from escrow to the monitoring account for general corporate purposes, with excess issue expenses adjusted against this category. The statement was reviewed by the Audit Committee and confirmed nil deviation.