Knowledge Marine raises funds, appoints new director

Knowledge Marine & Engineering Works Limited (KMEW) has successfully raised INR 284.81 crores through a preferential issue of equity shares and warrants. Funds advised by Convergent Finance LLP invested INR 240 crore for a 10.3% stake. This capital infusion is intended to support KMEW's INR 750 crore capex plan over the next 2-3 years, accelerate growth, diversify its portfolio, and capture opportunities in the maritime sector.

The company's board of directors also approved the issuance of up to 1,421,054 equity shares and 77,946 convertible warrants on a preferential basis, aggregating INR 2,84,81,00,000. These transactions are subject to shareholder approval at an extra-ordinary general meeting on October 09, 2025. CARE Ratings Limited has been appointed as the monitoring agency for the issue.

Additionally, Jagat Jiban Biswas has resigned as a non-executive non-independent director effective October 01, 2025. Concurrently, Hemant Sibal has been appointed as an additional non-executive non-independent director, leading to a reconstitution of the nomination & remuneration committee.