Knowledge Marine & Engineering Works announced the successful completion of a preferential issue of equity shares and warrants amounting to Rs 284.81 crore (approx. USD 32.30 million).
As part of this round, funds advised by Convergent Finance LLP are going to invest Rs 240 crore (USD 27.2 million) for a 10.3% stake in the Company.
Founded in 2018, Convergent Finance is led by Harsha Raghavan, an industry veteran with 28 years of investment experience, who previously founded and led Fairfax's investment activities in India. The team has a track record of investing more than $2.5 billion over a twelve-year period.
Sujay Kewalramani, Chief Executive Officer of KMEW, also participated, subscribing to Rs 14.80 crore (approx. USD 1.7 million) of warrants.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app