Ashish Kacholia Invests Rs 10 Cr in Knowledge Marine Through Preferential Issue
Ace investor Ashish Kacholia has made a strategic investment in Knowledge Marine & Engineering Works, contributing Rs 10 crore via a preferential issue. This significant move has propelled the stock price up by 5% on the BSE. Here’s what you need to know:
– Investment Details: Kacholia acquired 52,632 equity shares at a price of Rs 1,900 per share, comprising a premium of Rs 1,890. This transaction reflects a total investment of Rs 10 crore.
– Market Response: Following the announcement, shares of Knowledge Marine surged 5%, closing at Rs 2,433.55 on the BSE.
– Preferential Issue Overview: The company raised ₹270 crores through the issuance of 14,21,054 equity shares to various non-promoter investors, further diversifying its investor base.
– Notable Investors: Besides Kacholia, significant participants include:
– Infinity Direct Holdings: 4,64,210 shares
– Infinity Direct Capital: 5,46,316 shares
– Infinity Partners II – Direct: 2,52,632 shares
– Vimana Capital Management LLP: 52,632 shares
– Suryashakti Management Services Pvt Ltd: 52,632 shares
– Impact on Share Capital: Following the allotment, the company’s paid-up equity share capital increased from Rs 10.80 crore to Rs 12.22 crore, rising from 1,08,01,000 shares to 1,22,22,054 shares.
– Future Prospects: The company aims to fortify its capital base to support future expansions and operational needs. The investment’s impact is anticipated to enhance growth potential while adhering to SEBI regulations regarding the lock-in period for shares.
In conclusion, Ashish Kacholia’s substantial investment in Knowledge Marine not only elevates the stock but also signifies confidence in the company’s future trajectory. This strategic move exemplifies how investments can influence market dynamics and drive growth in smallcap ventures.