SBI Funds Management bought 400,036 shares of Knowledge Marine & Engineering Works Limited for ₹78.53 crore at ₹1963.17 apiece in a bulk deal. This transaction translated to a 1.64% stake in the company.
A dredging services provider incorporated in 2015, Knowledge Marine & Engineering Works operates and owns marine vessels for dredging operations across Indian waters and coastal regions. The company also offers comprehensive repair, maintenance, and refitting services for marine craft and infrastructure, serving ports, shipping clients, and maritime development projects. Its integrated business spans vessel ownership, dredging execution, and specialized marine infrastructure support services.
AMC behind SBI Mutual Fund, India's largest fund house by AUM and a JV between State Bank of India and Amundi. The PMS and AIF arm manages around Rs 12,000 cr for HNI and institutional mandates across discretionary and non-discretionary equity strategies, led by Gaurav Mehta as CIO Alternatives.
