Kissht completes Rs 832 crore preferential issue
The allotment follows the company's board approval on October 23 and shareholders' approval at an extraordinary general meeting held on October 14.
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OnEMI Technology Solutions, the parent company of fintech lender Kissht, has allotted 2.65 crore equity shares worth Rs 832.20 crore to 34 investors through a preferential issue.
The allotment includes 24 new investors, while 10 existing shareholders have also increased their stakes in the company.
The shares were issued at Rs 314.11 apiece. The new investors include schemes of Axis Mutual Fund, Ashoka WhiteOak Funds, 360 ONE, Bandhan Small Cap Fund, Citigroup Global Markets Hong Kong, Unity Small Finance Bank and the Massachusetts Institute of Technology (MIT).
Among the major allotments, Axis Mutual Fund schemes received 63.7 lakh shares worth nearly Rs 200 crore, while MIT was allotted 27.1 Lakh shares valued at around Rs 85 crore.
Existing investors, including funds managed by Alchemy, First Bridge, Groww and HDFC, also participated in the issue.
Following the preferential allotment, Kissht's paid-up equity capital has increased from Rs 17.81 crore to Rs 20.46 crore. The newly issued shares represent around 13% of the company's expanded equity capital.
The allotment follows the company's board approval on October 23 and shareholders' approval at an extraordinary general meeting held on October 14. The shares received trading approval from the BSE and NSE on November 8.
Kissht recorded a 44.7% year-on-year jump in revenue from operations to Rs 732 crore in Q2 FY27 from Rs 506 crore in the corresponding quarter last fiscal. Its net profit more than doubled to Rs 125 crore in Q2 FY27 from Rs 62.44 crore in Q2 FY26.
Founded by Ranvir Singh and Krishnan Vishwanathan, Kissht provides small-ticket consumer loans and earns primarily through interest income. The company was listed on the stock exchanges earlier this year in May.