Knowledge Marine & Engineering Works Limited has issued a corrigendum to its Extraordinary General Meeting (EOGM) notice dated June 26, 2026, clarifying the pricing and shareholding details for a proposed preferential issue. The company set the issue price at ₹1,962.53 per equity share, based on a valuation report dated June 26, 2026. The floor price was determined at ₹1,962.52 per share, in accordance with SEBI (ICDR) Regulations.

The preferential issue will result in the allotment of 3.01% of the post-issue fully-diluted share capital to the allottees, which is less than the 5% threshold requiring an independent registered valuer's report. The company confirmed that the issue price remains unchanged despite the clarifications sought by BSE Limited and The National Stock Exchange of India Limited via letters dated July 02, 2026, and July 03, 2026, respectively.

The corrigendum, dispatched on July 09, 2026, updated the post-issue shareholding pattern. Promoter and Promoter Group holding is projected to decrease from 51.55% to 50.30%, while public shareholding is expected to increase from 48.44% to 49.70%. Institutional investors' shareholding will rise to 16.21% post-issue, up from 13.69%.

The EOGM is scheduled for July 19, 2026, via video conferencing. The corrigendum is available on the company's website and those of MUFG Intime India Private Limited, BSE, and NSE.

Knowledge Marine & Engineering Works has set its sights on a topline of ₹1,000 crore in the coming years, underpinned by a ₹3,000 crore bid pipeline and full fleet utilization. The company, engaged in dredging, charter hire, and shipbuilding, shared its strategic outlook during an investor meet organized by Hem Securities Ltd. on June 19, 2026. Management emphasized the government's focus on maritime infrastructure as a key driver for future opportunities.

Business Verticals and Industry Outlook

The company operates through three primary business verticals: dredging services, charter hire, and shipbuilding. Management highlighted that the Indian dredging industry is expected to grow at approximately 8.4% CAGR, with capital dredging demand projected to rise significantly by 2030. To capitalize on this, KMEW is focusing on green maritime initiatives, having secured two Green Tug contracts. Each Green Tug costs approximately ₹90 crore to construct, carries a 15-year contract tenure, and benefits from a 20% shipbuilding subsidy.

Order Book and Revenue Mix

KMEW's current order book stands strong across its segments. The company reported a total order book of approximately ₹1,633 crore, with charter hire contributing the largest share. Dredging accounts for 70% of the revenue mix, while shipbuilding contributes 21% and charter hire & ancillary services make up 7%. Management confirmed 100% utilization across dredging and charter hire assets, ensuring steady earnings visibility.

Expansion Plans and Capital Expenditure

Significant expansion is underway with the acquisition of 15 acres at Saphale (Palghar) near Vadhavan Port. The company plans a capital expenditure of approximately ₹300 crore across three phases over 2.5–3 years, with Phase-I expected to be operational next year. This facility will support Green Tug construction and future shipbuilding orders. For FY27, KMEW plans to acquire bigger capacity Trailing Suction Hopper Dredgers, Cutter Suction Dredgers, and Green and Conventional Tugs.

Funding and Growth Enablers

To finance this fleet expansion and larger dredger acquisitions, the company is evaluating an additional fund raise of ₹150–200 crore, following a previous ₹285 crore preferential allotment. The bid pipeline, estimated at ₹3,000 crore, includes projects expected from the Inland Waterways Authority of India and Dredging Corporation of India Limited. Management remains optimistic, citing Maritime Vision 2047 and inland waterway development as key enablers for sustained growth toward its ₹1,000 crore topline ambition.