Home / Markets / Stock Markets /  Multibagger SME IPO declares preferential issue after rising 700% in one year

Multibagger IPO: Shares of Knowledge Marine & Engineering Works Ltd are one of the multibagger IPOs (Initial Public Offerings) that Indian stock market has produced in recent years. The public issue was launched in March 2021 at a fixed price band of 37 per equity share. The public issue had a par listing but the stock has given stellar return to the allottees in around one and half years as Knowledge Marine & Engineering Works share price today is 918, 881 per equity share higher from its price band.

Knowledge Marine & Engineering Works share news

This multibagger IPO is in news these days for announcing preferential issue at 700 per share. This means, the company is offering its company shares at a premium of 218 per equity share on preferential basis. So, a bidder will have a window of opportunity to buy this multibagger stock at a premium of around 23 per cent.

Knowledge Marine & Engineering Works preferential issue

Informing Indian stock market about the preferential issue, Knowledge Marine & Engineering Works Ltd said, "Proposal for issuance of Equity Shares of 5,65,000 Equity Shares of the Company on preferential basis for consideration in cash subject to shareholders’ approval by way of passing special resolution vide Extra-Ordinary General Meeting dated 9% December, 2022 and other necessary approvals (including applicable statutory and regulatory approvals) and in accordance with Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations’), as amended and other applicable laws, the Board has approved the creation, offer, issuance and allotment of 5,65,000 Equity Shares of face value 10 (Rupees Ten) each of the Company at an issue price of Rs. 700 per equity share on preferential basis (“Preferential Issue")."

Knowledge Marine share price history

As mentioned above, this BSE SME stock is one of the multibagger stocks of 2022. It has surged from around 150 to 918 apiece levels in year-to-date (YTD) time, giving around 500 per cent return to its shareholders. In last one year, this small-cap SME stock has risen from around 110 to 918 apiece levels, delivering more than 700 per cent return to its investors.

The BSE SME IPO was launched at 37 per share in March 2022. If an allottee had remained invested in this BSE SME stock till date, its 1.11 lakh investment would have surged around 25 times in this one and half years times.

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Asit Manohar

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