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OnEMI Technology completes Rs 832 crore preferential issue for Kissht
The parent company of digital lender Kissht has issued 2.65 crore equity shares to 34 institutional and private investors.
OnEMI Technology Solutions, the parent company of digital lending platform Kissht, has completed a preferential issue of equity shares worth Rs 832.20 crore, according to regulatory filings.
The Mumbai-headquartered company allotted 2,64,93,882 fully paid-up equity shares at an issue price of Rs 314.11 per share. The transaction received shareholder approval at an extraordinary general meeting on October 14, followed by board approval on October 23. Stock exchanges BSE and NSE granted trading approval for the newly issued shares on November 8.
The allotment increases OnEMI's paid-up share capital from Rs 17.81 crore to Rs 20.46 crore. The newly issued shares represent approximately 13% of the company's expanded post-issue equity capital.
Investor participation and share allotment
The preferential allotment brought in 24 new institutional and individual investors while 10 existing shareholders expanded their holdings.
Axis Mutual Fund schemes took the largest block, acquiring 63.7 lakh shares valued at nearly Rs 200 crore. The Massachusetts Institute of Technology invested Rs 85 crore across two entities to pick up 27.1 lakh shares.
| Investor | Shares Allotted | Value | Shareholder Status |
|---|---|---|---|
| Axis Mutual Fund schemes | 63.7 lakh | ~Rs 200 crore | New investor |
| Massachusetts Institute of Technology | 27.1 lakh | Rs 85 crore | New investor |
| Ashoka WhiteOak Capital entities | 23.9 lakh | ~Rs 75 crore | New investor |
| Envision Capital | 12.7 lakh | ~Rs 40 crore | Investor |
| First Bridge | 12.1 lakh | Rs 20 crore | Existing investor |
| Anil Shah | 1.6 lakh | ~Rs 5 crore | Individual investor |
| Ameeta Rajendra Naik | 63,671 | Rs 2 crore | Individual investor |
Other institutional participants in the issue included 360 ONE, Alchemy Capital, Groww, HDFC schemes, Bandhan Small Cap Fund, Citigroup Global Markets Hong Kong, and Unity Small Finance Bank.
Planned use of capital
In its regulatory filings, OnEMI did not specify explicit operational line items for how it plans to deploy the proceeds.
Kissht founder and chief executive officer Ranvir Singh said the capital injection will strengthen the company's balance sheet, support disciplined loan growth, maintain underwriting standards, and ensure fair treatment of customers.
Why it matters
Securing institutional capital of this scale four months after listing provides OnEMI with equity runway to expand its lending book without leaning solely on debt financing.
While the preferential issue dilutes existing equity by 13%, the presence of marquee domestic mutual funds and global university endowments signals institutional willingness to fund digital lending assets that maintain profitability.
Financial track record and business metrics
The capital raise follows a period of expansion in Kissht's loan book and quarterly profits.
For the second quarter ended September 2026 (Q2 FY27), Kissht reported disbursements of Rs 4,612 crore. Net profit for the quarter rose to Rs 125.12 crore, up from Rs 62.40 crore in the corresponding period of the previous financial year. Assets under management (AUM) grew 68.4% year on year to cross Rs 10,000 crore.
| Financial Period | Revenue | Net Profit | Disbursements | Assets Under Management |
|---|---|---|---|---|
| Q2 FY27 | Not disclosed | Rs 125.12 crore | Rs 4,612 crore | > Rs 10,000 crore |
| Q2 FY26 | Not disclosed | Rs 62.40 crore | Not disclosed | Not disclosed |
| Q1 FY27 | Rs 669.50 crore | Rs 95.10 crore | Not disclosed | Not disclosed |
| Q1 FY26 | Rs 463.10 crore | Rs 59.70 crore | Not disclosed | Not disclosed |
In the first quarter of FY27, Kissht's revenue from operations reached Rs 669.50 crore, up 44.6% from Rs 463.10 crore in Q1 FY26. Net profit for Q1 FY27 stood at Rs 95.10 crore, compared to Rs 59.70 crore a year earlier.
At the end of June 2026, the platform maintained 45 active lending and co-lending partnerships, operated 101 physical branches across eight states and union territories, and reported an active customer base of 3.49 million.
Market background and structural context
Kissht was founded by Ranvir Singh and Krishnan Vishwanathan to provide digital personal loans, loans against property, and business loans up to Rs 5 lakh. The platform operates its lending operations primarily through its regulated non-banking financial company (NBFC) subsidiary, Si Creva Capital Services.
The company listed on the BSE and NSE on May 8, 2026, after raising Rs 850 crore in fresh capital alongside an offer for sale (OFS) of Rs 76 crore. Its shares listed at a premium of 11.7% over the issue price of Rs 171.
In July 2026, Kissht received regulatory approval to enter mutual fund distribution through a wholly-owned subsidiary, Invincible Minds. Following the completion of the preferential allotment, shares of Kissht traded 5.08% higher to close at Rs 359.70 on the BSE.