Rs 881 crore order book: Marine infrastructure company raises Rs 284.81 crore through preferential issue led by funds advised by Convergent Finance LLP
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The stock is up 99.21 per cent from its 52-week low of Rs 1,265 per share and has given multibagger returns of 350 per cent in 3 years.
Knowledge Marine & Engineering Works Limited (KMEW), a key player in marine engineering and dredging services, has successfully completed a preferential issue, raising approximately Rs 284.81 crore. The funding round was spearheaded by funds advised by Convergent Finance LLP, which will invest Rs 240 crore for a 10.3 per cent stake in the company. Convergent Finance, founded in 2018 and led by industry veteran Harsha Raghavan, brings a strong track record of over USD 2.5 billion in investments. This significant capital infusion will support KMEW's strategic growth initiatives and further cement its position in the marine sector.
Adding to the vote of confidence, KMEW's Chief Executive Officer, Sujay Kewalramani, also participated in the issue by subscribing to warrants worth approximately Rs 14.80 crore. Founded in 2015, KMEW has established itself as a trusted partner in India's marine industry, specialising in dredging, marine infrastructure, and vessel services. With a modern fleet of 40 vessels and the recent acquisition of Kamal Marine & Engineering Works, the company is also poised to expand into shipbuilding, leveraging its enhanced financial position to fuel future expansion and innovation.
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About the Company
Incorporated in 2015, Knowledge Marine & Engineering Works Ltd. (KMEW) specialises in marine engineering, including the ownership and operation of marine crafts, dredging and the repair and maintenance of ships and marine infrastructure. The company has grown from a small ship-repair unit to a ship-owning company, establishing itself as a key player in India's small marine craft and dredging sectors. KMEW holds a multi-million order book with prestigious clients, including the Ministry of External Affairs and major port trusts such as Kolkata, Visakhapatnam, Deendayal, Paradip and the Dredging Corporation of India.
The company has a market cap of over Rs 2,520 crore. As of May 2025, the company’s order book stands at Rs 881 crore. An ace investor, Ashish Kacholia, holds the highest public stake in the company, owning 3,00,000 shares or 2.78 per cent as of June 2025. The shares of the company have an ROE of 26 per cent and an ROCE of 24 per cent. The stock is up 99.21 per cent from its 52-week low of Rs 1,265 per share and has given multibagger returns of 350 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.