Kissht’s OnEMI gets exchange nod for ₹832.2 Cr preferential share issue
BSE and NSE have given in-principle approval for the digital lender to issue shares to 34 non-promoter investors.
The 30-second read
- OnEMI (Kissht) got in-principle approval from BSE and NSE to raise ₹832.2 Cr through a preferential issue.
- Up to 2.65 crore shares will be issued at Rs 314.11 each, to 34 non-promoter investors.
- 75% of the money goes to subsidiary Si Creva Capital Services for lending; 25% is for general corporate purposes.
OnEMI, the company behind digital lender Kissht, has received in-principle approval from BSE and NSE for a preferential issue of shares. The raise is ₹832.2 Cr, as reported by Entrackr and Indian Startup News. The company will issue up to 2.65 crore equity shares (2,64,93,882). The price is Rs 314.11 per share, which includes a premium of Rs 313.11. There are 34 non-promoter investors.
Entrackr named Axis MF, HDFC MF, MIT, WhiteOak, 360 ONE, Groww MF and Bandhan MF among them. Indian Startup News also listed Citigroup Global Markets Hong Kong, Nippon India Equity Opportunities AIF and Unity Small Finance Bank. The exchanges approved on 19 October, and the filing was made on October 20. The board cleared the plan on 17 September and shareholders did so at an EGM on 14 October.
Of the money raised, 75% will go into subsidiary Si Creva Capital Services for lending. The other 25% is for general corporate purposes. Indian Startup News first reported that the approvals are subject to statutory and regulatory requirements, and that listing approval is needed after allotment. Entrackr first reported the Q1 FY27 numbers: operating revenue up 45% to Rs 670 crore, profit up 58% to Rs 95 crore, and AUM up 61% to Rs 8,001 crore.
The company raised Rs 926 crore in its IPO about five months earlier. That was Rs 850 crore of fresh issue plus about Rs 76 crore from an offer for sale. Shares listed on 8 May at Rs 191 on BSE and Rs 190 on NSE, against an IPO price of Rs 171.
Why it matters
A listed Indian digital lender is adding fresh capital, with several Indian mutual funds among the buyers. Most of it is meant to fund more lending through its subsidiary.
The data
| Item | Detail |
|---|---|
| Amount | ₹832.2 Cr |
| Shares | Up to 2,64,93,882 |
| Price per share | Rs 314.11 (premium Rs 313.11) |
| Investors | 34 non-promoter |
| Board approval | 17 September |
| EGM | 14 October |
| Exchange approval | 19 October |