News ArticleKnowledge Marine & Engineering Works Utilizes Rs. 434.8 Crore From Preferential Issues in Q2 FY27 Without Deviation
CARE Ratings Limited confirms full compliance with fund utilization for Rs. 284.81 crore and Rs. 149.99 crore raises during the quarter ended September 30, 2026
Knowledge Marine & Engineering Works Limited, listed on BSE and NSE, disclosed the utilization of Rs. 434.8 crore raised via preferential issues in September 2025 and June 2026 for the quarter ended September 30, 2026, with no deviation from the stated purpose, confirmed by CARE Ratings Limited as monitoring agency.
Knowledge Marine & Engineering Works Limited
Preferential Issue
Knowledge Marine & Engineering Works Limited reported the monitored utilization of Rs. 434.8 crore from preferential equity issues during the quarter ended September 30, 2026, with no deviations from the offer documents, confirmed by the appointed monitoring agency CARE Ratings Limited.
The company raised Rs. 284.81 crore through a preferential equity issue in September 2025 and Rs. 149.99 crore in June 2026.
CARE Ratings Limited, appointed as the monitoring agency under SEBI regulations, reviewed and confirmed the utilization of the proceeds as per the object clauses in the offer documents dated September 17, 2025, and June 26, 2026, respectively.
All funds utilized in the quarter were verified with certified management and chartered accountant certificates and approved by the Audit Committee and Board of Directors on November 6, 2026.
Unutilized proceeds amounting to a portion of these funds were placed in fixed deposits aggregating Rs. 38.38 crore as of September 30, 2026.
The funds were transferred from the monitoring agency account to the company’s current and cash credit accounts, where they were commingled with other transactions as per normal business operations.
Highlights
- Total preferential issue proceeds of Rs. 434.8 crore raised in September 2025 and June 2026.
- No deviation in utilization of funds from the stated objects of the preferential issue.
- Monitoring agency CARE Ratings Limited prepared the utilization report for Q2 FY27 ending September 30, 2026.
- Audit Committee and Board approved the utilization report on November 6, 2026.
- Rs. 38.38 crore of unutilized funds held in fixed deposits at quarter end.
Key Data Snapshot
What happened
- Knowledge Marine & Engineering Works Limited raised Rs. 284.81 crore in September 2025 and Rs. 149.99 crore in June 2026 through preferential issues.
- CARE Ratings Limited was appointed as the monitoring agency to oversee the utilization of the preferential issue proceeds.
- The company submitted the monitoring report for the quarter ended September 30, 2026, confirming usage as per the offer document.
- The board and Audit Committee reviewed and approved the report on November 6, 2026.
Key details
- No deviation reported in the use of funds compared to disclosed objectives in the offer documents.
- The company transferred funds from the monitoring agency account to its operational accounts, where commingling with other transactions occurred.
- Unutilized proceeds were partially placed in fixed deposits totaling Rs. 38.38 crore as of the reporting date.
- The monitoring agency based its certification on management certificates and a Chartered Accountant certificate dated November 4, 2026.
Regulatory and governance context
- The monitoring report complies with Regulation 32 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular dated July 11, 2023, updated January 30, 2026.
- CARE Ratings Limited’s role as monitoring agency includes reporting on utilization under SEBI Issue of Capital & Disclosure Requirements Regulations.
- Monitoring agency clarified that the report does not constitute an audit and is based on information provided by the company.
- No conflict of interest was declared by the monitoring agency in connection with the report.
Highlights
- Total preferential issue proceeds of Rs. 434.8 crore raised in September 2025 and June 2026.
- No deviation in utilization of funds from the stated objects of the preferential issue.
- Monitoring agency CARE Ratings Limited prepared the utilization report for Q2 FY27 ending September 30, 2026.
- Audit Committee and Board approved the utilization report on November 6, 2026.
- Rs. 38.38 crore of unutilized funds held in fixed deposits at quarter end.
Disclosures
- SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
- SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023, updated January 30, 2026
- Regulation 162A of SEBI (Issue of Capital & Disclosure Requirements) Regulations
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