Patel Engineering Limited - BBB Rated (INE244B07235)

Patel Engineering Limited, a Engineering, Designing & Construction company, has floated Debenture, having ISIN value as INE244B07235, with a face value of ₹10,00,000 rs on 17Sep12 to raise 113.8 crores. The debt instrument is issued with a coupon rate of RESET RATE - 11.30% P.A PAYABLE QUARTERLY UPTO 17.09.2022 12% P.A. PAYABLE QUARTERLY WEF 18.09.2022 and its interest is paid Quarterly. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Secured Debenture is RESET RATE SECURED RATED LISTED REDEEMABLE NON CONVERTIBLE DEBENTURE. LETTER OF ALLOTMENT. DATE OF MATURITY 17/09/2023.. This instrument is issued in Private Placement (non-EBP) mode. It has Simple coupon type with Partial Redemption By Quantity option. The Debenture is listed on NSE stock exchange on 19Sep22. Acuite Ratings And Research Limited has given BBB+ rating to this Debenture on 10Aug21. This issuer is formerly known as PATEL ENGINEERING CO. LTD Neither the Principal nor the Interest is covered for this Debenture. Yes, this debt instrument is Perpetual In Nature.