OnEMI Technology Solutions Approves ₹832 Crore Preferential Issue
OnEMI Technology Solutions Limited's Board approved a preferential issue to raise up to ₹832 crore. Marquee investors like Axis Mutual Fund and HDFC Mutual Fund are participating. 75% will fund the subsidiary Si Creva Capital Services, while 25% is for general corporate purposes. The company targets credit rating upgrades in two years.
A substantial fundraise of ₹832 crore is a material event for the company, impacting its capital structure, growth prospects, and subsidiary operations. The participation of well-known investors further underscores the significance of this event.
The company is raising significant capital from marquee investors, which will strengthen its financial position and support growth initiatives. The clear allocation of funds and positive outlook on credit rating upgrades contribute to a positive sentiment.
OnEMI Technology Solutions Limited, the parent company of digital lending platform Kissht, announced that its Board of Directors has approved a proposal to raise up to ₹832 crore through a preferential issue of equity shares. This fundraising is subject to shareholder and regulatory approvals.
The preferential issuance will be conducted in accordance with the Companies Act, 2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has secured participation from marquee investors including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, White Oak, 360 One, Groww Mutual Fund, and Bandhan Mutual Fund.
Of the total capital raised, 75% will be infused into its wholly-owned subsidiary, Si Creva Capital Services Private Limited, to enhance its lending business, technology capabilities, product offerings, and customer reach. The remaining 25% will be used for general corporate purposes, supporting Kissht's broader growth strategy in the digital financial services sector.
Kissht is also targeting multiple credit rating upgrades within the next two years, driven by strong capitalization and high-quality credit growth. These upgrades are expected to lower borrowing costs, expand access to capital, and increase funding capacity, ultimately strengthening margins and profitability. The company aims to position itself as a resilient, well-capitalized platform capable of sustaining growth through varying credit cycles.
What to do with a filing like this
OnEMI Technology Solutions Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by OnEMI Technology Solutions Limited. Read the original for the full detail.