Board of Onemi Technology Solutions approves capital raising of Rs 832 cr

OnEMI Technology Solutions, the listed parent company of digital lending platform Kissht, announced that its Board of Directors has approved a proposal to raise approximately up to Rs 832 crore through the issuance of equity shares on a preferential basis.

Marquee investors, including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, White Oak, 360 One, Groww Mutual Fund, Bandhan Mutual Fund, have participated in the proposed preferential issue.

The company aims to further strengthen its capital position and support its next phase of growth through the fundraise. The 75% of the additional capital raised will be infused in Si Creva Capital Services, the wholly owned subsidiary of the Company to provide Kissht with greater financial flexibility to scale its lending business, strengthen its technology and digital capabilities, expand its product offerings, and deepen its reach across its target customer segments.

The 25 % of the fundraise will used for general corporate purpose which is also expected to support Kissht's broader growth strategy as the company continues to strengthen its position in India's rapidly evolving digital financial services ecosystem.