Patel Engineering Ltd has officially signed a Memorandum of Understanding (MOU) with the Government of Arunachal Pradesh for the restoration and development of the 144 MW Gongri Hydropower Project in West Kameng District. This strategic partnership represents a significant milestone in advancing clean energy infrastructure in India's Northeast region.

Project Specifications

The Gongri Hydroelectric Project, located near Dirang town on the Gongri river (a tributary of the Bichom river in the Kameng basin), was previously terminated but has now been revived under the Arunachal Pradesh Restoration of Terminated Large Hydropower Policy under Special Circumstances, 2025.

Comprehensive Project Scope

Under the MOU, Patel Engineering will undertake the complete lifecycle of the project, which includes preparing and validating the Detailed Project Report (DPR), designing and engineering the hydroelectric system, and procuring all necessary electro-mechanical equipment. The scope also covers construction of the dam, powerhouse, and associated civil structures, along with installation and commissioning of turbines and generators. Additionally, the project will involve developing transmission infrastructure for grid connectivity and ensuring efficient operation and maintenance post-commissioning.

Strategic Implementation Framework

The project will be implemented on a BOOT (Build-Own-Operate-Transfer) basis for a lease period of 40 years, after which ownership and operational control will be transferred to the Government of Arunachal Pradesh. This framework aligns with Arunachal Pradesh's vision for a "Decade of Hydropower," aimed at making the sector a key contributor to the state's economy.

Management Commentary

Commenting on the development, Managing Director Ms. Kavita Shirvaikar said: "We are proud to partner with the Government of Arunachal Pradesh in reviving the Gongri Hydroelectric Project. This collaboration underscores our commitment to renewable energy and sustainable development. The project will harness the immense hydro potential of the region while ensuring socio-economic benefits for local communities."

Company Background

Patel Engineering Ltd is a 76-year company established in 1949 with a strong presence in hydropower, tunneling and irrigation segments. The company has a consistent track record in execution of projects in both domestic and international arena, having completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunneling for clients which are mostly central PSUs or state government organizations.

Patel Engineering Limited , a prominent player in the engineering and construction sector, has successfully completed its significant rights issue with the Allotment Committee approving the distribution of shares on December 22, 2025. The company has allotted 14,77,65,820 fully paid-up equity shares at ₹27 per share, raising the targeted ₹3,989.68 million.

Rights Issue Completion Details

Subscription and Allotment Summary

The rights issue witnessed strong investor response during its subscription period from December 12 to December 19, 2025. The company received applications through both regular and ASBA (Applications Supported by Blocked Amount) channels.

Trading and Regulatory Compliance

The Allotment Committee's decision on December 22, 2025, was made in consultation with NSE (the Designated Stock Exchange) and MUFG Iltimus India Private Limited (formerly Karvy Fintech Private Limited) as the Registrar. The company has published newspaper advertisements on December 24, 2025, in compliance with SEBI regulations, including publications in Financial Express, Jansatta, and Navshakti.

Financial Context and Strategic Impact

To understand the significance of this rights issue completion, examining Patel Engineering's recent financial position provides valuable context:

Market Implications

The successful completion of this rights issue positions Patel Engineering for enhanced operational capabilities. The ₹3,989.68 million capital infusion is expected to strengthen the company's balance sheet and provide resources for growth initiatives. Trading of the newly allotted rights equity shares is expected to commence on December 26, 2025, subject to listing approvals from BSE and NSE.

Investors should note that the rights equity shares can only be traded in dematerialized form on the stock exchanges. The company has fulfilled all regulatory requirements under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, ensuring compliance with listing obligations.