Patel Engineering : Rights Issue

About this update from Patel Engineering Limited

CIN: L99999MH1949PLC007039 December 16, 2022 To, Bombay Stock Exchange Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, C-1 Block G, Bandra Kurl Complex, Dalal Street, Fort, Bandra East, Mumbai - 400 001 Mumbai - 400 051 BSE Script Code: 531120 NSE Symbol: PATELENG/EQ Sub.: Outcome of Board Meeting dated December 16, 2022 of Patel Engineering Limited (the "Company") under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI LODR Regulations") Dear Sir/ Madam, Further to our letter dated December 13, 2022 and in accordance with the provisions of Regulation 30 of the SEBI LODR Regulations, we wish to inform you that the board of directors ("Board") of the Company at their meeting held today, i.e. December 16, 2022, approved the raising of funds, through issuance and allotment of equity shares having face value of ₹ 1 each up to an aggregate amount of ₹ 350 crores (Rupees Three Hundred Fifty Crores), on rights basis and on such terms (as decided by the Board or a constituted committee of the Board, at a later date) to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently), subject to receipt of regulatory/ statutory approvals, in accordance with the applicable laws including the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI LODR Regulations and the Companies Act, 2013, and rules and regulations made thereunder, each as amended from time to time and approved other related matters including the constitution of a Rights Issue Committee to implement the proposal of Rights Issue. The meeting commenced at 9 a.m. and concluded at 10.40 a.m. We request you to take the above same on your record. Thanking you, Yours faithfully, For Patel Engineering Limited Shobha Ranjit Shetty Digitally signed by Shobha Ranjit Shetty Date: 2022.12.16 10:48:57 +05'30' Shobha Shetty Company Secretary and Compliance Officer Membership No. F10047 REGD. OFFICE: Patel Estate Road, Jogeshwari (W), Mumbai - 400 102. India Phone +91 22 26767500, 26782916 Fax +91 22 26782455, 26781505 Email [email protected] Website: www.pateleng.com

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