Digital lender Kissht parent OnEMI raises over ₹800 crore from new and existing investors

OnEMI Technology Solutions, the parent company of digital lender Kissht, has raised ₹832.20 crore through a preferential share issue. The company allotted over 2.64 crore equity shares to 34 investors at a price of ₹314.11 per share.

Share Allotment Details

Ten existing shareholders increased their holdings during the round, including schemes from Alchemy, First Bridge, Groww and HDFC. Another 24 new investors joined, such as Axis Mutual Fund schemes, Ashoka WhiteOak funds, 360 ONE, Bandhan Small Cap Fund, Citigroup Global Markets Hong Kong, Unity Small Finance Bank and the Massachusetts Institute of Technology. The shares have a face value of ₹3 and received trading approval from the BSE and NSE on November 8.

Timeline and Financial Growth

The fundraising process began with board approval on September 17 and shareholder sign-off at an extraordinary general meeting on October 14, followed by the share allotment on October 23. Following this issue, OnEMI's paid-up equity capital rose from ₹17.81 crore to ₹20.46 crore, with the new shares making up about 13% of the enlarged share capital. Ranvir Singh, Founder and CEO of Kissht, noted that the capital raise provides a stronger balance sheet for the lender. This funding follows recent milestones where Kissht's assets under management crossed ₹10,000 crore, while quarterly net profit nearly doubled to ₹125.12 crore and assets under management grew by 68.4% year on year.

Context

Preferential share issues allow listed companies to raise capital quickly by issuing new shares to a select group of investors rather than the general public. Digital lenders in India have increasingly relied on advanced technology and data-led underwriting to expand credit access across both personal loans and secured products.