Knowledge Marine Approves Preferential Equity Issuance; Allots Shares to Promoter Group

Knowledge Marine Approves Preferential Equity Issuance; Allots Shares to Promoter Group​

Knowledge Marine & Engineering Works Ltd., a ship builder, repairer, charterer, and marine contractor, announced decisions regarding both a proposed preferential equity issue and the completion of warrant conversion leading to share allotment to its promoter group. These decisions were approved during the company's Board meeting held on June 26, 2026.

The Board considered and approved the issuance of equity shares on a preferential basis to non-promoter categories. The plan involves issuing up to 7,64,317 Equity Shares, each with a face value of ₹5/-. These shares are set for cash at an issue price of ₹1,962.53 per equity share.

The total aggregated amount for this preferential issuance is reported as ₹149,99,95,042.01. The equity shares are allocated to four non-promoter category investors. An Extra-Ordinary General Meeting (EOGM) has been scheduled for July 19, 2026, at 11:00 A.M. (IST) to seek members' approval for the proposed preferential share issuance. Furthermore, CARE Ratings Limited has been appointed as the Monitoring Agency for this issuance.

Details of Proposed Preferential Issue​

The details regarding the planned equity issue are summarized below:

Promoter Group Receives Shares via Warrant Conversion​

In a separate transaction, the Board of Directors has completed the allotment of equity shares to Mr. Sujay Kewalramani, who belongs to the promoter group. This allotment followed the conversion of warrants into Equity Shares.

A total of 1,55,892 equity shares with a face value of ₹5/- each were allotted and are fully paid up. The amount for this transaction aggregated to ₹11,10,73,050. The issuance was completed upon the receipt of the remaining exercise price of ₹1,425 per share warrant from Mr. Sujay Kewalramani.

The allotment of these shares ranks pari-passu with all existing equity shares of the company, including dividend entitlements. Following this allotment, the paid-up equity shares of Knowledge Marine & Engineering Works Limited increased to 2,46,00,000 Equity Shares (Two Crores Forty-Six Lakhs).

Allottees for Preferential Issue​

The following non-promoter investors are slated to receive the equity shares under the preferential issue:

KMEW Stock Price Movement​

Shares of Knowledge Marine & Engineering Works Limited shed 2.91% on Thursday, with the equity settling at ₹2240 amidst a day marked by sharp declines. The stock's movement was notable as it achieved its 52-week high during trading and saw a volume total of 155,439 shares traded.