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OnEMI Technology Solutions, the parent company of digital lending platform Kissht, has approved a fundraise of up to Rs 832.2 crore through a preferential issue, according to its exchange filing. The company’s board approved the issuance of up to 2.64 crore equity shares at an issue price of Rs 314.11 apiece to 34 investors from the non-promoter category. The proposed transaction is subject to shareholder and other regulatory approvals. The round will see participation from several domestic and global institutional investors, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology (MIT), WhiteOak, 360 One, Groww Mutual Fund and Bandhan Mutual Fund and others. The fresh capital will be used to strengthen Kissht’s capital position and support the expansion of its lending business, technology capabilities and product offerings. The company is also targeting multiple credit rating upgrades over the next two years, which it expects could lower borrowing costs, diversify its funding sources and increase its lending capacity. OnEMI has scheduled an extraordinary general meeting on October 14 to seek shareholder approval for the preferential issue. The fundraise comes just four months after OnEMI raised Rs 926 crore through its IPO. The public issue comprised a fresh issue of Rs 850 crore and an offer for sale of around Rs 76 crore by existing shareholders. On the financial front, Kissht’s operating revenue rose 45% year-on-year to Rs 670 crore in Q1 FY27, while its profit increased 58% to Rs 95 crore. Its assets under management grew 61% to Rs 8,001 crore during the quarter. Kissht made its stock market debut in May, with its shares listing at Rs 190 on the NSE, over 11% above the issue price of Rs 171. The stock has since more than doubled from its issue price and closed Thursday’s session at around Rs 360 per share, which puts the company’s market capitalisation at Rs 6,381 crore.
document fetched 2026-09-18 02:56