OnEMI Technology Solutions Plans New Fundraise for Kissht

OnEMI Technology Solutions, which oversees the digital lending platform Kissht, is exploring the possibility of a new fundraising venture, merely four months following its stock market introduction in May. The company’s board is set to convene on September 17 to discuss options for raising funds through equity shares, warrants, convertible instruments, or other eligible securities. This fundraising effort may be executed via a preferential issue, private placement, or various compliant methods, as noted in a regulatory filing. The proposal will require both regulatory and shareholder endorsement.

However, OnEMI did not reveal the intended amount for the fundraise or identify any potential investors involved in the initiative. The filing also indicated that the trading window has been halted for designated individuals and their immediate family members, remaining closed until 48 hours following the announcement of the board’s decision.

Recent Fundraising and Financial Performance

This news emerges a few months post OnEMI’s successful fundraising of Rs 926 crore through its initial public offering. The IPO consisted of a new issue amounting to Rs 850 crore and an offer for sale of approximately Rs 76 crore by current shareholders.

Kissht’s Financial Growth

On the financial side, Kissht has reported a significant 45% year-on-year growth in operating revenue, reaching Rs 670 crore in Q1 FY27. Additionally, profits surged by 58% to Rs 95 crore. The assets under management (AUM) also saw an impressive 61% year-on-year increase, amounting to Rs 8,001 crore for the quarter.

Market Debut and Stock Performance

Kissht made its debut on the stock market in May, with shares listed at Rs 190 on the NSE and Rs 191 on the BSE, reflecting an increase of over 11% compared to the issue price of Rs 171. Since that introduction, the stock has skyrocketed over 72% to approximately Rs 329, positioning the company’s market capitalisation at Rs 5,830 crore.