Patel Engineering raises Rs 90 crore via NCDs

New Delhi, Aug 29 (PTI) Construction engineering company Patel Engineering on Friday said it has raised Rs 90 crore to support its growth plans and service debt.

In a statement, the Mumbai-based company said it has raised the amount through "allotment of 9,000 senior, secured, rated, listed and transferable non-convertible debentures (NCDs) of face value Rs 1,00,000 each, aggregating to Rs 90 crore, through private placement".

The proceeds from this issuance will be utilised to support working capital requirements for ongoing EPC projects and repayment/ prepayment of existing debt and meet the mobilisation requirement of new projects.

"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," Kavita Shirvaikar, Managing Director of Patel Engineering, said.

The proposal was approved by the Allotment Committee of the Board of Directors, at its meeting held on August 26, 2025, Rahul Agarwal, Chief Financial Officer of Patel Engineering, said.

Agarwal said the funds raised will enhance the company's financial efficiency and operational momentum. PTI ABI ABI SHW