Patel Engineering Limited (PEL), a 76-year-old hydropower and irrigation construction specialist, has approved issuing Non-Convertible Debentures (NCDs) up to ₹200 crore. These NCDs, which can be subordinated, senior, secured, or unsecured, will be issued via private placement in tranches this fiscal year. As of March 31, 2024, PEL's order book, including L1 orders, stands at ₹15,218 crore.