Patel Engineering Limited has informed the Exchange about General Updates
PATELENG · price
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Patel Engineering Limited has allotted 9,000 Senior, Secured, Rated, Listed and Transferable Non-Convertible Debentures (NCDs) on a private placement basis. Each NCD has a face value of ₹1,00,000, aggregating to ₹90 crore allotted (out of a total issue size of ₹100 crore). The NCDs carry a coupon of 10.25% per annum, payable monthly, with a tenure of 36 months (allotment on August 26, 2025, maturing on August 25, 2028). Principal will be redeemed in three tranches: 30% at 24 months, 30% at 30 months, and 40% at 36 months. The issue is secured by a first-ranking exclusive charge over identified land parcels and will be listed on NSE.
The company has raised ₹90 crore through debt at a 10.25% coupon, which will increase its debt burden but provides funding for business operations. This is a private placement to selected investors, so existing shareholders face no dilution. The structured principal repayment in tranches over 3 years helps manage cash flow pressure.