Knowledge Marine & Engineering Works Limited ('Company'), engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure will be launching its initial public offering ('IPO' or the 'Offer') which is scheduled to open on Tuesday, March 09 and close on Friday March 12, 2021, with a fixed price band of Rs 37 per Equity Share of face value of Rs 10 each of the Company (the 'Equity Shares').
Initial Public Offer of 27,36,000 equity shares of face value of Rs 10/- each (the 'Equity Shares') of Knowledge Marine & Engineering Works Limited ('The company' or 'KMEWL' or 'The Issuer') at an issue price of Rs 37 per Equity Share for cash, aggregating up to Rs 1012.32 Lakhs ('Public Issue') out of which 1,44,000 equity shares of face value of Rs.10 each, at an Issue Price of Rs 37 per Equity Share for cash, aggregating Rs 53.28 Lakhs will be reserved for subscription by the market maker to the issue (The 'Market Maker Reservation Portion').
The Public Issue less market maker reservation portion i.e. issue of 25,92,000 equity shares of face value of rs.10 each, at an issue price of Rs 37 per equity share for cash, aggregating up to Rs 959.04 Lakhs is herein after referred to as the 'Net Issue'. The Public Issue and Net Issue will constitute 26.73 per cent and 25.32 per cent respectively of the post-issue paid-up equity share capital of the company.
This Issue is being made in terms of chapter IX of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) regulations, 2018 [the 'SEBI' (ICDR) regulations'], as amended. In terms of rule 19(2)(b)(I) of the securities contracts (regulation) rules, 1957, as amended, this is an Issue for at least 25 per cent of the Post-Issue Paid-up equity share capital of the company. This issue is a Fixed Price Issue and allocation in the net issue to the public will be made in terms of regulation 253 of the SEBI (ICDR) regulations, as amended. For further details, please refer 'Issue Procedure' on page 208 of the prospectus.
All potential investors shall participate in the issue through an application supported by blocked amount ('ASBA') process including through UPI mode (as applicable) by providing details about the bank account which will be blocked by the self-certified syndicate banks ('SCSBS') for the same. For details in this regard, specific attention is invited to 'issue procedure' on page 208 of the prospectus.
All the proceeds from the Offer will be coming to the Company as a fresh issue proceeds.
HEM Securities Limited is the Book Running Lead Manager ('BRLM') to the Offer.
The Equity Shares of Knowledge Marine & Engineering Works Limited are proposed to be listed on the SME Exchange of BSE.
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( With inputs from ANI )
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