Patel Engg Board approves fund improve of Rs. 350 cr thru rights issue by admin- Friday, December 16th, 2022 04:25:16 PM
Patel Engineering has announced that the board of administrators of the Company at their meeting hung on December 16, 2022, authorized the elevating of funds, via issuance and allotment of equity shares having face fee of Rs. 1 each as much as an mixture quantity of Rs. 350 crore on rights foundation
and on such terms to the eligible fairness shareholders of the Company, as on the record date, problem to receipt of regulatory/ statutory approvals, according with the relevant laws such as the provisions of the Securities and Exchange Board of India Regulations, 2018, SEBI LODR Regulations and the Companies Act, 2013, and policies and policies made thereunder, every as amended once in a while and accredited different related subjects including the constitution of a Rights Issue Committee to enforce the proposal of Rights Issue.