OnEMI Technology Solutions Approves Unaudited Financials and ₹624 Crore Rights Issue for Subsidiary
OnEMI Technology Solutions approved its Unaudited Financial Results for Q2 FY27. The company also approved a rights issue of ₹624.15 crore in its wholly-owned subsidiary, Si Creva Capital Services Private Limited. The investment aims to augment Si Creva's capital base for future growth. The investment is expected to be completed by December 2026.
The approval of financial results and a substantial rights issue for a wholly-owned subsidiary will have a significant impact on the company's financial structure and future growth prospects.
The company reported its financial results and approved a significant rights issue for its subsidiary, which is a positive development for capital growth and future expansion.
OnEMI Technology Solutions Limited 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 have provided an unmodified opinion on these results.
Furthermore, the company approved an investment through the subscription of 23,37,516 equity shares of its wholly-owned subsidiary, Si Creva Capital Services Private Limited. These shares, with a face value of ₹10 each, were subscribed at a price of ₹2,670.14 per share, including a premium of ₹2,660.14. This rights issue aggregates to ₹624.15 crore (₹6,24,14,94,972.24) and will be utilized for at least 75% of the proceeds raised from the company's preferential issue.
Si Creva Capital Services Private Limited is a Middle Layer Non-Deposit taking Non-Banking Financial Company. As of March 31, 2026, its paid-up share capital was ₹9.99 crore and its net worth was ₹1,231.98 crore. The turnover for FY 2025-26 was ₹1,541.33 crore. The investment in Si Creva is expected to be completed by the end of December 2026, aimed at augmenting its capital base to meet future growth requirements.
The Board Meeting commenced at 06:30 p.m. (IST) and concluded at 07:30 p.m. (IST).
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