OnEMI Technology Solutions Limited, the parent company of digital lending platform Kissht, has announced its Board's approval to raise approximately ₹832 crore through the issuance of equity shares on a preferential basis. According to the company's latest update, the proposed fundraising involves 2.64 crore equity shares of face value ₹1 at an issue price of ₹314.11 per share. The issuance will be conducted in accordance with the applicable provisions of the Companies Act, 2013 and SEBI regulations. The company has scheduled an Extra-Ordinary General Meeting on October 14, 2026, via video and audio-visual means to seek shareholder approval for the capital raise.
The preferential issue has attracted participation from several prominent institutional investors, with Axis Smallcap Fund receiving the highest allocation at 34.89 lakh shares (1.67% of outstanding equity). HDFC Banking & Financial Services Fund follows with 34.39 lakh equity shares (1.65% of total equity), while Massachusetts Institute of Tech Basic Retirement Plan has been issued 25.46 lakh shares (1.22% of total equity). As reported by the company, these marquee investors have demonstrated confidence in the digital lending platform's growth prospects and strategic positioning in the financial services sector. Notably, Axis Smallcap Fund and Massachusetts Institute of Technology did not hold any shares in the firm prior to this issue, while HDFC Banking and Financial Services Fund previously held 12.10 lakh shares (0.67% equity). The latest participation includes Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, White Oak, 360 One, Groww Mutual Fund, and Bandhan Mutual Fund.
The company plans to utilize the raised capital to strengthen its capital position and support its next phase of growth. According to the announcement, the capital will provide Kissht with greater financial flexibility to scale its lending business, strengthen its technology and digital capabilities, expand its product offerings, and deepen its reach across its target customer segments. The 75% of the additional capital will be infused in Si Creva Capital Services, the wholly owned subsidiary of the company, to provide Kissht with greater financial flexibility to scale its lending business, strengthen its technology and digital capabilities, expand its product offerings, and deepen its reach across its target customer segments. The remaining 25% of the fundraise will be used for general corporate purposes which is also expected to support Kissht's broader growth strategy as the company continues to strengthen its position in India's rapidly evolving digital financial services ecosystem.
Shares of OnEMI Technology Solutions ended the previous session 5.1% higher at ₹360.15, demonstrating strong market confidence in the fundraising announcement. However, the stock has fell 2.86% to currently trade at ₹349.40 on the BSE following the latest developments. The stock has gained 19% in the past month and is up 110.6% from its IPO price of ₹171 and 89.5% from its listing price of ₹190. The fund raise proposal comes just four months after listing on the stock exchanges, where the ₹926 crore public issue listed at a premium of 11% at ₹190 on NSE on May 8. The company had raised ₹850 crore through a fresh issue of shares during the IPO as well.
