Kissht gets BSE, NSE approval for Rs 832 crore preferential issue

Kissht operator OnEMI Technology Solutions has received in-principle approval from the BSE and NSE to raise up to Rs 832.2 crore through a preferential issue of equity shares to identified non-promoter investors.

In a regulatory filing dated October 20, 2026, the company said the proposed issue involves 2,64,93,882 equity shares with a face value of Re 1 each, priced at Rs 314.11 per share, including a premium of Rs 313.11. The issue is expected to raise up to Rs 832.2 crore.

The approvals follow the company's board clearance on September 17 and shareholder approval at an extraordinary general meeting on October 14.

The proposed issue will see participation from 34 investors, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology (MIT), WhiteOak, 360 ONE, Groww Mutual Fund and Bandhan Mutual Fund, among others.

OnEMI plans to use 75% of the proceeds to fund its wholly-owned subsidiary, Si Creva Capital Services, to support lending operations. The remaining 25% will be allocated to general corporate purposes.

The company is also targeting multiple credit rating upgrades over the next two years. A stronger capital base and improved access to funding are expected to help lower borrowing costs and expand its lending capacity.

The proposed fundraise comes around five months after OnEMI raised Rs 926 crore through its initial public offering (IPO), comprising a fresh issue of Rs 850 crore and an offer for sale of approximately Rs 76 crore by existing shareholders.

In Q1 FY27, Kissht reported a 45% year-on-year increase in operating revenue to Rs 670 crore, while net profit rose 58% to Rs 95 crore. Its assets under management grew 61% to Rs 8,001 crore during the quarter.