Monitoring Agency Report on Statement for utilization of proceeds of Preferential Issue of Knowledge Marine & Engineering Works Limited for the quarter ended December 31, 2025 for your records.
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Awaiting price reaction for this filing.
Knowledge Marine & Engineering Works Limited (KMEW) has filed the first Monitoring Agency Report from CARE Ratings for its Preferential Issue of equity shares and convertible warrants, totalling Rs. 284.81 crore. The proceeds are earmarked for working capital for ship-building contracts (Rs. 30.81 crore), capital expenditure on vessel purchase/construction (Rs. 183 crore), and general corporate purposes (Rs. 71 crore). As of December 31, 2025, the company has received Rs. 273.70 crore across three tranches in October 2025, with Rs. 11.11 crore yet to be received. Notably, no funds have been utilised during the quarter, and the entire unutilised amount of Rs. 273.70 crore is parked in fixed deposits across Bandhan Bank, Yes Bank, and Bank of India, earning interest between 4.5% and 7.2%.
For shareholders, this is a routine compliance filing that confirms funds raised via the preferential issue remain safely parked in bank FDs with no deviations from the stated objects. The lack of deployment so far is expected since the company has a 3-year timeline to use the money, and the proceeds were only received in October 2025. No immediate impact on the stock is anticipated, though investors will track future quarters for actual capex deployment on vessels, which could drive future revenue growth.