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Financing the Future: Patel Engineering Issues Debentures Worth ₹2 Billion

Updated: July 03, 2025 12:59

Image Source: MoneyControl
Patel Engineering Ltd., the leading infrastructure and civil engineering firm in India, has sanctioned issue of non-convertible debentures (NCDs) amounting to a maximum of ₹2 billion. The move is part of the company's overall strategy to rationalize its capital structure and enable ongoing project execution in hydroelectric, tunneling, and irrigation businesses.
 
The NCDs will be issued in one or more tranches, subject to market conditions and regulatory approvals. Patel Engineering has consistently maintained a 100% asset cover for its secured NCDs, supported by independent valuation reports, to ensure investor confidence and SEBI guidelines compliance.
 
Key Highlights
  • Instrument: Non-Convertible Debentures (NCDs)
  • Amount: Up to ₹2 billion
  • Purpose: Optimal capitalization, working capital support, and project financing
  • Asset Cover: 100% secured, as per valuation reports
Strategic Context
  • Patel Engineering has a robust order book of ₹20,807 crore as of March 2024 with high visibility in infrastructure segments.
  • The company recently raised ₹400 crore from QIBs and prepaid ₹66.84 crore of OCD dues, reflecting active management of debt.
  • With improved liquidity and realization of receivables, the NCD issuance will enhance financial flexibility further.
Sources: Infomerics, Acuité Ratings, BSE Corporate Filings, Investing.com, NSE India

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