Kissht parent OnEMI plans fresh funding months after listing

OnEMI Technology Solutions, the company behind digital lending platform Kissht, is exploring a fresh fundraising round just a few months after its public listing in May this year.

According to a filing with the stock exchanges, the board is scheduled to meet on September 17 to evaluate various fundraising options, including the issuance of equity shares, warrants, convertible securities, or other approved instruments.

The capital could be raised through routes such as a preferential allotment, private placement, or other methods permitted under regulations, subject to necessary approvals from shareholders and regulators.

The company has not revealed the amount it intends to raise or identified any potential investors.

OnEMI also stated that its trading window has been closed for designated employees and their immediate family members and will reopen 48 hours after the board announces its decision.

The proposed fundraising comes shortly after the company completed its Rs 926 crore IPO, which included a fresh issue worth Rs 850 crore and an offer for sale of approximately Rs 76 crore by existing shareholders.

It listed at Rs 190 on the NSE and Rs 191 on the BSE in May, representing a premium of more than 11% over its IPO price. Since then, the stock has gained over 72%, taking its market capitalization to nearly Rs 5,830 crore.