Patel Engineering Limited, founded in 1949, is a construction business specializing in hydropower generation and irrigation. They build dams, bridges, tunnels, highways, piling works, industrial structures, and other types of major civil engineering work.
Given the company’s involvement in the sector for more than seven decades, one might assume the number of projects it has done. As civil contractors, they have completed a wide range of infrastructure projects in the hydropower, irrigation, water supply, urban infrastructure, and transportation industries. Patel Engineering Limited holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications. With global company licensors and contractors, the organization is an appropriate engineering solutions partner for a wide range of services in a variety of industries.
Currently, the building operations of the company revolve around:
- Dams, tunnels, power plants, and barrages are examples of hydropower projects.
- Dams, weirs, and pump houses are examples of irrigation and water supply projects.
- Sewerage, micro tunneling, horizontal directional drilling, and pipelines are examples of urban infrastructure projects.
- Transportation projects include highways, bridges, flyovers, and tunnels for trains.
With its broad knowledge, technological abilities, and financial power, Patel Engineering is capable of undertaking large-scale infrastructure projects. This gives them a solid market position and helps them to provide better services to their clients.
Objects of the Issue:
The Company intends to utilize the proceeds raised through the Issue towards funding the following objects:
- Prepayment and/ or repayment of certain outstanding borrowings availed by our Company (including interest);
- general corporate purposes.
Patel Engineering Rights Issue 2023 Detail
| Issue Open | Feb 14, 2023 – Feb 27, 2023 |
| Security Name | Patel Engineering Limited |
| Issue Size (Shares) | 257,872,409 |
| Issue Size (Amount) | ₹324.92 Crores |
| Issue Price | ₹12.6 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The entire amount is payable on Application. |
| Entitlement | 1 Rights Equity Share for every 2 fully paid-up Equity Shares held as on the Record Date |
Patel Engineering Rights Issue 2023 Issue Timetable
| Last Date to buy shares | Feb 3, 2023 |
| Record Date | Feb 6, 2023 |
| Credit of Rights Entitlements | Feb 13, 2023 |
| Bid/Offer Opens On | Feb 14, 2023 |
| Renunciation of Rights Entitlements | Feb 22, 2023 |
| Bid/Offer Closes On | Feb 27, 2023 |
| Deemed Date of Allotment | Mar 6, 2023 |
| Credit Date | Mar 9, 2023 |
| Listing Date | Mar 10, 2023 |
Patel Engineering Limited Financial Information (Consolidated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 8,087.10 | 2,103.93 | -272.93 |
| 31-Mar-22 | 8,510.14 | 3,496.50 | 68.63 |
Company Contact Information
Patel Engineering Limited
Patel Estate SV Road,
Jogeshwari (West),
Mumbai – 400 102
Phone: +91 22 2676 7500
Email: [email protected]
Website: http://www.pateleng.com
Patel Engineering Rights Issue 2023 Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in
Patel Engineering Rights Issue 2023 Lead Manager(s)
- Bob Capital Markets Limited
- Idbi Capital Market Services Limited
Patel Engineering Rights Issue 2023 FAQs
Q1. When is Patel Engineering Rights Issue 2023 coming?
Ans. The Patel Engineering Rights Issue 2023 opens on Feb 14, 2023, and closes on Feb 27, 2023.
Q2. What is the schedule for Patel Engineering Rights Issue 2023?
Ans. Patel Engineering Rights Issue 2023 Schedule : Last Date for credit of Rights Entitlements Feb 13, 2023 Last Date for renunciation of Rights Entitlements Feb 22, 2023 Issue Opening Date Feb 14, 2023 Issue Closing Date Feb 27, 2023 Date of Allotment (on or about) Mar 6, 2023 Date of Credit (on or about) Mar 9, 2023 Date of Listing (on or about) Mar 10, 2023
Q3. What is the issue price for Patel Engineering Rights Issue 2023?
Ans. Patel Engineering Rights Issue 2023 price is set at ₹12.6 per share per equity share.
Q4. In what ratio is the Patel Engineering Rights Issue 2023 offered?
Ans. The eligible shareholders are being offered 1 Rights Equity Share for every 2 fully paid-up Equity Shares held as on the Record Date (Feb 6, 2023).
Q5. What is the record date for Patel Engineering Rights Issue 2023?
Ans. The record date for the Patel Engineering Rights Issue 2023 is Feb 6, 2023.
Q6. What is the issue size of Patel Engineering Rights Issue 2023?
Ans. The issue size of Patel Engineering Rights Issue 2023 is of 257,872,409 equity shares at ₹12.6 per share aggregating upto ₹324.92 Crores.
Q7. How to apply for Patel Engineering Rights Issue 2023?
Ans. You can apply for Patel Engineering Rights Issue 2023 in two ways:
- Net Banking (ASBA)
- Registrar’s Website (R-WAP Facility)
Steps to apply for Patel Engineering Rights Issue 2023 using Net Banking (ASBA)
- Log in to the net banking account of your bank.
- Go to the ‘IPO & Rights Issue’ section.
- Check if the Patel Engineering Rights Issue 2023 available on the list.
- Click the Apply button next to the Patel Engineering Rights Issue 2023.
- Fill and check your information.
- Submit the application.
Note: Your bank may not offer this facility to certain rights issues. In that case, you may have to choose the option below.
Steps to apply for Patel Engineering Rights Issue 2023 using Registrar’s website (R-WAP)
- Visit registrar’s website
- Go to the ‘Rights Issue’ section
- Select Patel Engineering Rights Issue 2023 from the dropdown.
- Enter Demat Account Number.
- Fill the online application form.
- Validate and submit the application.
