Knowledge Marine & Engineering Works
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 09 Mar 2021 – 12 Mar 2021
- Listing date
- 22 Mar 2021
- Face value
- ₹10 per share
- Issue price
- ₹37 per share
- Lot size
- 3,000 shares
- Total issue size
- ₹10.12 Cr
- Market cap at offer price
- ₹37.87 Cr
- Promoter holding
- 100.00% → 73.27% pre-issue → post-issue
- ISIN
- INE0CJD01029
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Office No.402, Sai Samarath Business Park, Deonar Village Road, Govandi (East), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,44,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹37
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,11,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,22,000 |
| S-HNI (max) | 9 | 27,000 | ₹9,99,000 |
| B-HNI (min) | 10 | 30,000 | ₹11,10,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹37.87 Cr |
About Knowledge Marine & Engineering Works
Knowledge Marine & Engineering Works Limited (KMEWL) was incorporated on October 26, 2015 as a private limited company in Mumbai and converted into a public limited company on January 31, 2020. The group began operations in 2013 as Kamal Marine & Engineering Works Private Limited undertaking repair/refits of marine crafts, and with two years of marine engineering experience expanded into owning and operating small crafts, evolving 'from a small ship-repair unit to a ship-owning Company'. The company currently owns three marine craft - River Pearl 2 (grab hopper dredger, Kolkata Port), River Pearl 4 (trailing suction hopper dredger, Kolkata Port) and River Pearl 3 (pilot boat, Visakhapatnam Port) - with a fourth craft (River Pearl 1) owned by its associate KMEW Offshore Private Limited. It makes money primarily through charter and hire income earned under multi-year contracts won via competitive bidding from government port authorities and dredging companies, including Kolkata Port Trust, Visakhapatnam Port Trust, Paradip Port Trust, International Seaport Dredging Private Limited and Indian Port Dredging Private Limited, supplemented by ancillary services such as marine hydrographic and magnetometer surveys, technical manpower/manning solutions, and repairs, maintenance and refits of marine crafts and marine infrastructure. The group operates through two subsidiaries (Indian Ports Dredging Private Limited - 70%; Knowledge Infra Ports Private Limited - 74%) and one associate (KMEW Offshore Private Limited - 50%), formed as JV SPVs to meet CPC/CVC guidelines for large contracts. Per restated consolidated financials, revenue from operations was Rs. 2,390.89 lakhs in FY2020 (Rs. 1,631.63 lakhs for the six months ended September 30, 2020) with PAT of Rs. 398.86 lakhs in FY2020; the company states an approximate asset value of around Rs. 25 crores and an order book of over Rs. 100 crores.
Company Analysis
from DRHPKnowledge Marine & Engineering Works Limited is a Mumbai-based marine services company that owns and operates marine craft for dredging and provides ancillary services such as hydrographic surveys, vessel manning and ship repairs/refits, serving India's ports and shipping industry.
Knowledge Marine & Engineering Works Limited (KMEWL) was incorporated on October 26, 2015 as a private limited company in Mumbai and converted into a public limited company on January 31, 2020. The group began operations in 2013 as Kamal Marine & Engineering Works Private Limited undertaking repair/refits of marine crafts, and with two years of marine engineering experience expanded into owning and operating small crafts, evolving 'from a small ship-repair unit to a ship-owning Company'. The company currently owns three marine craft - River Pearl 2 (grab hopper dredger, Kolkata Port), River Pearl 4 (trailing suction hopper dredger, Kolkata Port) and River Pearl 3 (pilot boat, Visakhapatnam Port) - with a fourth craft (River Pearl 1) owned by its associate KMEW Offshore Private Limited. It makes money primarily through charter and hire income earned under multi-year contracts won via competitive bidding from government port authorities and dredging companies, including Kolkata Port Trust, Visakhapatnam Port Trust, Paradip Port Trust, International Seaport Dredging Private Limited and Indian Port Dredging Private Limited, supplemented by ancillary services such as marine hydrographic and magnetometer surveys, technical manpower/manning solutions, and repairs, maintenance and refits of marine crafts and marine infrastructure. The group operates through two subsidiaries (Indian Ports Dredging Private Limited - 70%; Knowledge Infra Ports Private Limited - 74%) and one associate (KMEW Offshore Private Limited - 50%), formed as JV SPVs to meet CPC/CVC guidelines for large contracts. Per restated consolidated financials, revenue from operations was Rs. 2,390.89 lakhs in FY2020 (Rs. 1,631.63 lakhs for the six months ended September 30, 2020) with PAT of Rs. 398.86 lakhs in FY2020; the company states an approximate asset value of around Rs. 25 crores and an order book of over Rs. 100 crores.
Objects of the Issue
- Business Expansion (Building new craft River Pearl 5, 20 Knots speed Patrol Boat for Visakhapatnam) Rs. 298.00 lakhs p.70
- To meet Working Capital requirements p.70
- General Corporate Purpose p.71
- To meet issue expenses p.71
Issue Structure
- Total Issue
- Upto 27,36,000 Equity Shares of face value of Rs. 10 each aggregating to Rs. [●] Lakhs
- Fresh Issue
- Fresh Initial Public Issue of upto 27,36,000 equity shares of face value of ₹ 10/- each
- Face Value
- Rs. 10/- each
Business Model
The company earns revenue almost entirely as charter and hire income by owning and deploying marine craft (dredgers, pilot boats, barges) under service contracts awarded through competitive tendering to government port authorities (e.g., Kolkata, Visakhapatnam and Paradip Port Trusts) and dredging companies, along with income from ancillary services such as hydrographic and magnetometer surveys, supply of mooring/pilot crews and technical manpower, and repairs, maintenance and refits of marine crafts and marine infrastructure (restated accounts report all revenue from operations under 'Charter & Hire Income').
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Saurabh M. Daswani | Promoter | 19.99 | — |
| Mrs. Kanak S. Kewalramani | Promoter | 53.75 | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.