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Patel Engineering confirms no deviation in rights issue proceeds use, transferring Rs 21.55 million
10-Aug-2026, 06:09
Patel Engineering Limited informed the Bombay Stock Exchange and the National Stock Exchange that there was no deviation in the utilisation of proceeds from its rights issue dated December 22, 2025, during the quarter ended June 30, 2026, according to a filing on August 10, 2026. The company transferred Rs 21.55 million from its escrow account to a monitoring account for general corporate purposes, adjusting excess issue expenses against that allocation.
Patel Engineering Limited informed the Bombay Stock Exchange and the National Stock Exchange that there was no deviation in the utilisation of proceeds from its rights issue dated December 22, 2025, during the quarter ended June 30, 2026, according to a filing on August 10, 2026. The company transferred Rs 21.55 million from its escrow account to a monitoring account for general corporate purposes, adjusting excess issue expenses against that allocation.