Funds Advised by Convergent Finance to Acquire 10.3% Stake in Knowledge Marine & Engineering Works Limited for USD 27.4 Million
(source : ANI) ( Photo Credit : ani)
Big Investment Boost for Knowledge Marine: Convergent Finance Pumps in Rs 240 Crore
Mumbai, September 17: In a major move for India’s growing maritime sector, funds managed by Convergent Finance LLP have poured Rs 2,400 million (about USD 27.4 million) into Knowledge Marine & Engineering Works Limited. This forms part of a larger Rs 2,848 million (USD 32.5 million) fundraising round, blending equity shares and warrants. Knowledge Marine’s CEO, Sujay Kewalramani, is also chipping in Rs 148 million (USD 1.7 million) by subscribing to warrants, showing his rock-solid confidence in the company’s future.
Once the deal wraps up—pending shareholder nods and standard approvals—Convergent’s funds will own around 10.3% of Knowledge Marine. The company is already a familiar name on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), making this investment a hot topic for marine engineering stocks.
Founded back in 2015, Knowledge Marine has quickly become a top player in India’s marine engineering solutions. They specialize in dredging, marine infrastructure, and vessel services, handling key projects for major ports, inland waterways, and coastal bodies. Picture this: They run a sleek fleet of 40 vessels, including dredgers and support craft, tackling everything from capital dredging to maintenance work.
The game-changer? Their recent buyout of Kamal Marine & Engineering Works Pvt. Ltd. This not only strengthens their dredging game but also opens doors into shipbuilding, setting them up for even bigger growth in the maritime industry.
Sujay Kewalramani, CEO of Knowledge Marine, couldn’t be more excited. "India’s maritime sector is hitting a high-growth phase, thanks to the push on infrastructure and inland waterways," he said. "Teaming up with Convergent Finance will supercharge our expansion—think bigger fleet, sharper execution skills, and better service for the country’s evolving maritime needs."
On the other side, Harsha Raghavan, Managing Partner at Convergent Finance LLP, praised the team. "Knowledge Marine stands out as a premium engineering and services firm, backed by India’s finest leadership," he noted. "With their diverse fleet and top-notch technical skills, they’re ready to nail marine engineering projects at home and abroad. We’re thrilled to partner with Sujay and the crew to ramp up operations, snag new assets, and chase opportunities in India and beyond."
What makes Knowledge Marine tick? Their mixed fleet and solid engineering prowess let them nail complex projects with top quality. They’ve locked in long-term deals with port trusts, government bodies, and private players, ensuring steady revenue in the dredging and marine services space.
As for Convergent Finance LLP, they’re all about smart investing—spotting unique opportunities, moving fast, and driving real performance gains. Their value-focused style means fair deals through direct talks, connecting big ideas, capital, and driven entrepreneurs.
This investment highlights the booming potential in India’s marine engineering and dredging sector, especially as infrastructure projects pick up steam. Keep an eye on Knowledge Marine—they’re set to sail ahead!
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