Knowledge Marine & Engineering Works promoters sell 5.13 lakh shares, reducing stake to 51.56%

What Knowledge Marine & Engineering Works announced

On 24 June 2026 the company filed a disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing records the sale of equity shares by its promoters and persons acting in concert (PACs) through an open‑market bulk deal. The transaction involved a total of 5,12,820 shares of Knowledge Marine & Engineering Works Ltd (KMEW), reducing the promoters’ combined voting‑shareholding.

Transaction specifics

The sale was executed on 19 June 2026 as an open‑market bulk deal, a mechanism that allows large blocks of shares to be transacted in a single transaction without a separate offer document. The promoters who sold shares were:

• Kanak Kewalramani – 3,45,620 shares
• Dinesh Kewalramani (acting in concert) – 1,67,200 shares The total number of shares sold amounts to 2.10% of KMEW’s total equity share capital of 2,44,44,108 shares (face value Rs 5 per share). No other instruments such as warrants, convertible securities, or pledged shares were part of the deal.

Impact on promoter holding

Before the sale, the promoters collectively held 1,31,15,749 shares, which represented 53.66% of the voting capital. After disposing of 5,12,820 shares, their holding decreased to 1,26,02,929 shares, translating to a 51.56% voting‑shareholding. Although the stake fell by just over 2 percentage points, the promoters remain in control of the company, as their holding is still above the 50% threshold required for majority control.

Regulatory filing under SEBI 29(2)

The disclosure complies with Regulation 29(2) of the SEBI (SAST) Regulations, which mandates that any promoter or person acting in concert who sells shares exceeding a prescribed threshold must inform the stock exchanges. The filing lists the promoters and a comprehensive set of PACs, including family members and related entities such as Indian Ports Dredging Private Limited and Knowledge Infra Ports Private Limited. The filing was submitted to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on 24 June 2026, with the date of the transaction (19 June 2026) clearly mentioned.

Key facts at a glance

Why this matters for investors

The transaction does not involve any fresh capital infusion; it is a secondary sale by existing promoters. Consequently, there is no immediate impact on the company’s cash position or balance sheet. However, the reduction in promoter shareholding is material for investors who monitor control dynamics. While the promoters retain a majority stake, the slight dilution may signal a modest re‑balancing of ownership or a need for liquidity. The absence of pledges or encumbrances suggests that the shares were not used as collateral, reducing concerns about potential forced sales. Finally, the filing’s compliance with SEBI regulations provides transparency and assures the market that the sale was conducted in accordance with statutory requirements.

The promoters’ voting‑shareholding stands at 51.56% after the bulk sale, maintaining majority control.

The disclosure completes the regulatory requirement and informs shareholders of the exact change in ownership structure. No further approvals are pending, and the company’s operational outlook remains unchanged.

Conclusion

Knowledge Marine & Engineering Works Ltd recorded the sale of 5.13 lakh shares by its promoters on 19 June 2026, bringing the promoter group’s voting stake down to 51.56%. The filing, made under SEBI Regulation 29(2), confirms that the transaction was executed via an open‑market bulk deal with no encumbrances. Investors now have a clear view of the updated shareholding pattern, while the promoters continue to hold a controlling interest.