Kissht Parent OnEMI Plans Fresh Fundraise Four Months After Rs 926 Cr IPO
OnEMI fundraise plans are back on the table, just four months after the company listed on the stock exchanges. The parent of digital lending platform Kissht is considering raising money through equity shares, warrants, convertible instruments or other eligible securities. The company did not disclose the size of the proposed fundraise or the investors who may participate.
Board meets on September 17
The board will meet on September 17 to consider the proposal. The raise could be carried out through a preferential issue, a private placement or other permissible routes, according to a regulatory filing. The plan stays subject to regulatory and shareholder approvals. The filing also said the trading window has been closed for designated persons and their immediate relatives, and will stay shut until 48 hours after the board meeting outcome is announced.
The IPO and what followed
OnEMI raised Rs 926 crore through its initial public offering, which included a fresh issue of Rs 850 crore and an offer for sale of around Rs 76 crore by existing shareholders. Kissht made its market debut in May, with shares listing at Rs 190 on the NSE and Rs 191 on the BSE. Both were over 11% above the issue price of Rs 171. Since then, the stock has climbed more than 72% to around Rs 329, which puts the company’s market capitalisation at about Rs 5,830 crore.
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Growth in the books
The numbers explain why the market has stayed interested. Kissht’s operating revenue grew 45% year on year to Rs 670 crore in Q1 FY27. Profit rose 58% to Rs 95 crore in the same quarter. Its assets under management increased 61% to Rs 8,001 crore. For a lender, that combination of profit growth and loan book expansion is the part investors watch most closely.
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What lies ahead
Raising fresh capital months after listing is unusual, and it usually signals one of two things. Either the company has a growth plan that needs money faster than internal cash can fund it, or it wants to strengthen its balance sheet before competition heats up. For a digital lender, more capital generally means more loans on the books. Watch the board’s September 17 outcome for the size, because that number will tell the market how ambitious the plan is.
Sudip Kumar is a Writer at Bharat Fast, contributing to the platform for more than six months. With an interest in startups, entrepreneurship, digital media and graphics designing, he enjoys exploring emerging businesses and sharing informative stories with readers.
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