Kissht Fundraise Announcement

Kissht has received essential approvals from both the BSE and NSE for its planned fundraising of Rs 832.2 crore through the issuance of shares. On October 20, the company officially announced that the exchanges had sanctioned the release of up to 2.65 crore equity shares, priced at Rs 314.11 each. This share issuance incorporates a premium of Rs 313.11 per share.

Details of the Fundraise

The approvals were granted after the company’s board of directors endorsed the fundraising on September 17, followed by the endorsement from shareholders during an extraordinary general meeting held on October 14. A total of 34 investors are set to participate in this proposed issue, including notable names like Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology (MIT), WhiteOak, 360 ONE, Groww Mutual Fund, and Bandhan Mutual Fund, among others.

Utilisation of Funds

According to the company’s previous disclosures, 75% of the funds raised will be contributed to Si Creva Capital Services, a wholly owned subsidiary, to bolster its lending operations. The remaining 25% is earmarked for general corporate activities.

Future Outlook

Kissht is also aiming for various credit rating upgrades in the forthcoming two years. The company anticipates that enhanced capitalisation and improved funding access will enable lower borrowing costs, thus increasing its lending capabilities.

Recent Financial Performance

This fundraising announcement comes approximately five months after OnEMI successfully secured Rs 926 crore through its initial public offering (IPO), which consisted of a fresh issue of Rs 850 crore along with an offer for sale amounting to about Rs 76 crore by existing shareholders. In terms of financial growth, Kissht recorded a 45% year-on-year rise in operating revenue, reaching Rs 670 crore in Q1 FY27, while profits surged by 58% to Rs 95 crore. Additionally, the company’s assets under management expanded by 61%, amounting to Rs 8,001 crore during the quarter.