Knowledge Marine & Engg jumps after board to mull fund raising, stock split

Knowledge Marine & Engineering Works rallied 5.10% to Rs 2,250 after the company's board scheduled to meet on Tuesday, 24 December 2024 to consider fund raising and stock split proposal.

The board will consider sub-division of the equity shares of the company having a face value of Rs 10 each, in such manner as may be determined by the board of directors, subject to the approval of the shareholders of the company and regulatory/statutory approvals as may be required.

Further, the board will also consider raising funds via issuance of equity shares through a private placement or through one or more qualified institutional placement (QIP) and/or preferential allotment and / or through any other permissible mode in accordance with the relevant provisions of applicable law, subject to approval from the shareholders of the company and the receipt of statutory/regulatory and other approvals, as may be required.

Knowledge Marine & Engineering Works is engaged in providing dredging services, owning and operating marine craft, and repairing, maintaining, and refitting marine crafts and marine infrastructure. Its head office is in Mumbai, and operations are spread across major ports in the country through branch offices in Kolkata, Vishakapatnam, Kandla, Vadinar and Sittwe, Myanmar.

The companys consolidated net profit fell 3% to Rs 23.47 crore on 10.5% decline in net sales to Rs 95.62 crore in H1 FY25 over H1 FY24.

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