Patel Engineering (PEL) has launched a qualified institutional placement (QIP) with a floor price of Rs 59.50 apiece. The company’s board authorised the opening of the issue on April 22. A meeting of the Allotment Committee is scheduled to be held on April 25, 2024, to, inter alia, consider and determine the issue price for the Equity Shares to be allotted to qualified institutional buyers pursuant to the issue.
Patel Engineering provides a wide range of civil engineering services involved in design and construction of power projects, hydroelectric projects, commercial building, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad.
