OnEMI Technology Approves Rights Issue of ₹624 Crore for Subsidiary Si Creva
OnEMI Technology Solutions Limited approved its Unaudited Financial Results for the quarter ended September 30, 2026. The Board also approved a ₹624.15 crore rights issue by its subsidiary, Si Creva Capital Services Private Limited. The investment aims to augment Si Creva's capital base for business growth. The investment is expected by December 2026.
The approval of a substantial rights issue (₹624.15 crore) for a wholly-owned subsidiary, aimed at capital augmentation for business growth, is a material event that will significantly impact the company's financial structure and future operations.
The company reported its financial results and approved a significant investment in its subsidiary, which is aimed at business growth and capital augmentation. This indicates positive forward-looking actions by the company.
OnEMI Technology Solutions Limited (KISSHT) announced the outcome of its Board Meeting held on October 28, 2026. The Board approved the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2026. The Statutory Auditors provided an unmodified opinion on these results.
Furthermore, the Board approved an investment through the subscription of 23,37,516 equity shares of face value ₹10 each in Si Creva Capital Services Private Limited, a wholly-owned subsidiary. This rights issue, priced at ₹2,670.14 per share, aggregates to ₹624.15 crore (₹6,24,14,94,972.24). The proceeds will be utilized for at least 75% of the funds raised from the company's preferential issue, aimed at augmenting Si Creva's capital base to support its business growth.
Si Creva, a Middle Layer Non-Deposit taking Non-Banking Financial Company, had a paid-up share capital of ₹9.99 crore and a net worth of ₹1,231.98 crore as of March 31, 2026. Its turnover for FY 2025-26 was ₹1,541.33 crore. The investment is expected to be completed by the end of December 2026. The Board Meeting commenced at 06:30 p.m. (IST) and concluded at 07:30 p.m. (IST).
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