Patel Engineering to Raise ₹90 Crore via NCDs for Growth and Debt Reduction

31 Aug 2025 , 10:14 PM

Patel Engineering Ltd. on Friday said it plans to raise up to ₹90 crore to strengthen its working capital and reduce debt. The Mumbai-based construction engineering firm will raise the funds through the issue of 9,000 senior, secured, rated, listed and transferable non-convertible debentures (NCDs) of ₹1,00,000 each on a private placement basis.

The proceeds will be deployed to support ongoing EPC projects, repay or prepay existing borrowings, and meet mobilisation requirements for new contracts, the company said in a statement.

“This fundraise marks a significant step in our journey to scale operations and take on new infrastructure mandates. With a healthy order book and a growing pipeline of opportunities, we are focused on delivering excellence while maintaining financial prudence,” said Kavita Shirvaikar, Managing Director of Patel Engineering.

Rahul Agarwal, Chief Financial Officer, added that the funds will enhance the company’s financial efficiency and operational momentum. The proposal was cleared by the board’s Allotment Committee at its meeting on August 26, 2025.

Patel Engineering shares closed at ₹37.15 on Friday. This is a 1.04% dip in the NSE. Patel Engineering shares dipped 5% in the last 5 days, 14% in the last six months, and 37% in the last year.

For feedback and suggestions, write to us at [e-mail]