Kissht Gets BSE, NSE Nod for INR 832 Cr Preferential Issue
Kissht gets BSE and NSE nod for a INR 832 crore preferential issue at INR 314.11 per share, with 34 investors participating.
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Kissht, operated by OnEMI Technology Solutions, has received in-principal approvals from the BSE and NSE for a INR 832.2 crore fundraise through a preferential issue of up to 2.65 crore equity shares at INR 314.11 per share, including a premium of INR 313.11. The company disclosed this in a regulatory filing on October 20. Its board cleared the fundraise on September 17, and shareholders approved it at an extraordinary general meeting on October 14.
Thirty-four investors will participate, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, WhiteOak, 360 ONE, Groww Mutual Fund and Bandhan Mutual Fund. About 75% of proceeds will go into its wholly owned subsidiary Si Creva Capital Services to support lending, and the remaining 25% toward general corporate purposes.
The company is targeting multiple credit rating upgrades over the next two years, expecting stronger capitalisation and better funding access to lower borrowing costs and increase lending capacity.
The fundraise comes about five months after OnEMI raised INR 926 crore through its IPO, comprising a fresh issue of INR 850 crore and an offer-for-sale of about INR 76 crore. In Q1 FY27, Kissht’s operating revenue grew 45% year-on-year to INR 670 crore and profit rose 58% to INR 95 crore. Assets under management rose 61% to INR 8,001 crore.
Kissht, operated by OnEMI Technology Solutions, has received in-principal approvals from the BSE and NSE for a INR 832.2 crore fundraise through a preferential issue of up to 2.65 crore equity shares at INR 314.11 per share, including a premium of INR 313.11. The company disclosed this in a regulatory filing on October 20. Its board cleared the fundraise on September 17, and shareholders approved it at an extraordinary general meeting on October 14.
Thirty-four investors will participate, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, WhiteOak, 360 ONE, Groww Mutual Fund and Bandhan Mutual Fund. About 75% of proceeds will go into its wholly owned subsidiary Si Creva Capital Services to support lending, and the remaining 25% toward general corporate purposes.
The company is targeting multiple credit rating upgrades over the next two years, expecting stronger capitalisation and better funding access to lower borrowing costs and increase lending capacity.
The fundraise comes about five months after OnEMI raised INR 926 crore through its IPO, comprising a fresh issue of INR 850 crore and an offer-for-sale of about INR 76 crore. In Q1 FY27, Kissht’s operating revenue grew 45% year-on-year to INR 670 crore and profit rose 58% to INR 95 crore. Assets under management rose 61% to INR 8,001 crore.
