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Kissht gets BSE, NSE nod for Rs 832 Cr fundraise

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Kissht gets BSE, NSE nod for Rs 832 Cr fundraise

Kissht, operated by OnEMI Technology Solutions, has received in-principle approvals from the BSE and NSE for its proposed Rs 832.2 crore fundraise through a preferential issue of shares.

In a regulatory filing on October 20, the company said the exchanges had approved the issuance of up to 2.65 crore equity shares at Rs 314.11 per share. The proposed issue includes a premium of Rs 313.11 per share.

The approvals come after the company's board cleared the fundraise on September 17, followed by 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.

As per the company's earlier announcement, 75% of the proceeds will be infused into Si Creva Capital Services, its wholly owned subsidiary, to support lending operations. The remaining 25% will be used for general corporate purposes.

The company is also targeting multiple credit rating upgrades over the next two years. It expects stronger capitalisation and improved access to funding to help lower borrowing costs and increase its lending capacity.

The 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 about Rs 76 crore by existing shareholders.

On the financial front, Kissht reported a 45% year-on-year increase in operating revenue to Rs 670 crore in Q1 FY27, while profit rose 58% to Rs 95 crore.


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