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Funding · Financial Services

OnEMI Technology Solutions approves Rs 832 crore fundraise

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Kissht logo
Date
Company
Kissht
What it does
Digital lending platform operator
Kind
Funding
Amount
₹832.2 Cr
Stage
public
Sector
Financial Services

What they do

OnEMI Technology Solutions operates Kissht, a digital lending platform that provides both secured and unsecured loans to over 12 million customers

What happened

The company board approved a preferential issue of 2.64 crore equity shares to 34 non-promoter investors to raise up to Rs 832.2 crore

Why it matters

The fresh proceeds will help scale loan books, build software infrastructure, and introduce additional financial offerings following its May 2026 listing

The details

  • The board of OnEMI Technology Solutions approved a preferential issue to raise up to Rs 832.2 crore.
  • The company will issue up to 2.64 crore equity shares at a price of Rs 314.11 per share.
  • A total of 34 non-promoter investors are participating in this round, including Axis Mutual Fund and HDFC Mutual Fund.
  • The company scheduled an extraordinary general meeting on 14 October 2026 to seek shareholder approval for the transaction.
  • Funds will be used to bolster the balance sheet of its Kissht unit and scale credit distribution.
  • The proceeds will also fund software engineering and help introduce novel financial offerings.

The bigger picture

  • The business wants to earn higher credit ratings within twenty-four months to reduce interest expenses on borrowed money.
  • Improved ratings are expected to help the firm diversify its funding sources and increase its overall lending capacity.
  • The company reported strong growth in Q1 FY27, with operating revenue reaching Rs 670 crore and profit hitting Rs 95 crore.

About the business

  • OnEMI Technology Solutions is the parent company of the digital credit provider Kissht.
  • Kissht provides a variety of secured and unsecured loans to borrowers.
  • The platform has served over 12 million customers since its inception.
  • The company operates in the financial sector as a registered Non-Banking Financial Company (NBFC).
  • Management intends to use AI (artificial intelligence) to improve credit underwriting decisions.
  • The firm is transitioning from a digital lender into a broader financial-services platform.

What happens next

  • Seek shareholder approval at the extraordinary general meeting on 14 October 2026.
  • Pursue better independent credit evaluations over the next two years to trim debt expenses.
  • Expand the customer base using AI-driven decision-making tools.

The deal

Type
preferential issue

Investors

  • Axis Mutual Fund (participated) — Institutional investor participating in the preferential issue.
  • HDFC Mutual Fund (participated) — Institutional investor participating in the preferential issue.

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