OnEMI Technology Solutions Invests ₹637.5 Crore in Subsidiary Si Creva Capital Services
OnEMI Technology Solutions will invest ₹637.5 crore in its wholly-owned subsidiary, Si Creva Capital Services. The investment, funded by IPO proceeds, involves subscribing to 30 lakh equity shares at ₹2,125 per share. This aims to augment Si Creva's capital for business growth.
The investment of ₹637.5 crore is significant and directly supports the growth of a key subsidiary, which is expected to have a material impact on the company's overall financial health and strategic direction.
The investment in a subsidiary using IPO proceeds to fund growth is a positive development for the company and its subsidiary.
OnEMI Technology Solutions Limited announced that its Board of Directors has approved the utilization of net proceeds from its Initial Public Offering (IPO) for augmenting the capital base of its wholly-owned subsidiary, Si Creva Capital Services Private Limited (Si Creva).
The investment will amount to ₹637.50 crore (Indian Rupees Six Hundred Thirty-Seven Crore and Fifty Lakhs only). This will be achieved through the subscription of 30,00,000 equity shares of Si Creva, each with a face value of ₹10, at a premium of ₹2,115 per share, resulting in an aggregate price of ₹2,125 per share.
Si Creva is a Middle Layer Non-Deposit taking Non-Banking Financial Company incorporated in India on July 08, 2015. As of March 31, 2025, its paid-up share capital was ₹8.89 crore, and its net worth stood at ₹858.98 crore. The subsidiary's turnover for FY 2024-25 was ₹1092.48 crore, compared to ₹1295.21 crore in FY 2023-24 and ₹829.60 crore in FY 2022-23.
The investment is in line with the objects stated in the company's IPO offer document and is intended to meet Si Creva's future capital requirements arising from its business growth. The transaction is being conducted on an arm's length basis.
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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 medium impact: worth reading, rarely worth acting on by itself.
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