Patel Engg to raise $125mn

The board of directors of Patel Engineering, which met today, approved a proposal to raise up to $125 million either through FCCBs or issue of shares to public/right issue/ADRs/GDRs or any other instrument in the international/domestic markets.

According to a release issued by Patel Engineering to the BSE today, the funds will be utilised to meet the expansion plans.