Rs 733 Order Book: Ashish Kacholia’s portfolio multibagger marine infrastructure stock to keep under radar as the company’s shares receive approval for migrating from BSE-SME to Main Board of BSE
The shares of the company have an ROE of 26 per cent and an ROCE of 24 per cent.
Knowledge Marine & Engineering Works Limited has secured in-principle approval from BSE Limited to transition its equity shares from the BSE-SME platform to the Main Board of BSE. This significant milestone is a result of the company's application submitted on July 15, 2024, which underwent rigorous review and evaluation by the Internal Regulatory Oversight and Review Group of the Exchange.
To finalize the listing process on the Main Board, the company must now submit a comprehensive set of documents, including a letter of application for listing, a detailed Information Memorandum, a listing agreement adhering to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the latest shareholding pattern and financial statements as per SEBI guidelines. Once migrated to the Main Board, the company will be subject to all the provisions of these regulations, encompassing corporate governance standards and other regulatory requirements. Additionally, the company will be required to pay an initial listing fee of Rs 20,000 and an annual listing fee for the financial year 2024-25, along with applicable taxes.
The in-principle approval granted by BSE is valid for 45 days from the date of the letter. If necessary, the company can seek extensions to complete the listing process within the stipulated timeframe. This positive development marks a significant step forward for Knowledge Marine & Engineering Works Limited, positioning the company for enhanced market visibility, investor confidence, and access to broader capital markets.
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Knowledge Marine & Engineering Works Ltd is primarily engaged in the business of owning, chartering/ hiring along with manning, operation and technical maintenance of marine crafts and repairs/ maintenance of marine crafts and marine infrastructure and allied works in India. The company has a market cap of Rs 1,929 crore. As of May 2024, the company’s order book stands at Rs 733 crore.
An ace investor, Ashish Kacholia, holds the highest public stake in the company, owning 3,00,000 shares or 2.78 per cent as of March 2024. Today, shares of Knowledge Marine & Engineering Works gained 1.05 per cent to Rs 1,820 per share from its previous closing of Rs 1,800.60. The shares of the company have an ROE of 26 per cent and an ROCE of 24 per cent. The stock is up by 81 per cent from its 52-week low of Rs 1,005 and gave multibagger returns of over 4,000 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.