OnEMI Technology Solutions, the parent company of digital lending platform Kissht, has completed a preferential share issue worth ₹832.20 crore, strengthening its capital base as it looks to expand its lending operations. The company allotted 2,64,93,882 equity shares to 34 investors at ₹314.11 per share, according to its exchange filing. The newly issued shares received trading approval from the BSE and NSE on November 8, 2026.
The fundraising attracted a combination of institutional investors, mutual funds and existing shareholders. Of the 34 participants, 24 were new investors, while 10 existing shareholders increased their holdings. The capital raise comes shortly after Kissht crossed ₹10,000 crore in assets under management (AUM), reflecting the rapid expansion of its digital lending business in India.
OnEMI Completes ₹832.20 Crore Preferential Share Issue
OnEMI allotted 2.65 crore equity shares at ₹314.11 apiece, completing the fundraising approved by its board in September 2026.
The shares have a face value of ₹1 each and rank equally with the company’s existing equity shares.
Following the allotment, OnEMI’s paid-up equity capital increased from approximately ₹17.81 crore to ₹20.46 crore. The newly issued shares represent around 13% of the company’s expanded share capital.
| Fundraising detail | Information |
|---|---|
| Total amount raised | ₹832.20 crore |
| Shares allotted | 2,64,93,882 |
| Issue price per share | ₹314.11 |
| Number of investors | 34 |
| New investors | 24 |
| Existing investors increasing stakes | 10 |
| Share allotment approval | October 23, 2026 |
| Trading approval | November 8, 2026 |
The company’s board initially approved the proposed fundraising on September 17. Shareholders subsequently approved the proposal at an extraordinary general meeting on October 14, followed by the final allotment on October 23.
Axis Mutual Fund, MIT and Citigroup Among New Investors
The preferential issue attracted several prominent domestic and international investors.
The 34 participants include 24 investors who did not previously hold shares in OnEMI and 10 existing shareholders who subscribed to additional shares.
Among the new investors are:
- Axis Mutual Fund schemes.
- Ashoka WhiteOak funds.
- Massachusetts Institute of Technology (MIT).
- 360 ONE.
- Bandhan Small Cap Fund.
- Citigroup Global Markets Hong Kong.
- Unity Small Finance Bank.
- Envision India Fund.
- Nippon India Equity Opportunities AIF.
Existing investors from Alchemy, First Bridge, Groww and HDFC also increased their holdings through the issue.
The participation of mutual funds, institutional investors and international entities highlights the interest in OnEMI’s digital lending business and its growth prospects.
The addition of new institutional shareholders also broadens the company’s investor base following its stock market listing earlier in 2026.
How Will Kissht Use the ₹832 Crore Fundraising?
The fundraising is intended to strengthen OnEMI’s balance sheet and provide additional capital to support Kissht’s lending operations.
According to the company’s September announcement, approximately 75% of the proceeds will be infused into Si Creva Capital Services, its wholly owned non-banking financial company (NBFC) subsidiary.
The remaining 25% will be used for general corporate purposes.
The proposed allocation is expected to support several business priorities:
| Allocation | Purpose |
|---|---|
| Approximately 75% | Capital infusion into Si Creva Capital Services |
| Approximately 25% | General corporate purposes |
The capital infusion into Si Creva is particularly important because NBFCs require sufficient capital to support loan-book expansion and maintain regulatory capital adequacy.
The additional funding is expected to give Kissht greater flexibility to expand its lending portfolio, strengthen technology and digital capabilities, introduce new financial products and reach more customers.
The company has also indicated that a stronger capital base could help it pursue multiple credit-rating upgrades over the next two years.
Kissht Targets Credit Rating Upgrades and Lower Borrowing Costs
Kissht’s fundraising strategy is not limited to increasing the amount of capital available for lending.
Founder and CEO Ranvir Singh has said the company is targeting multiple credit-rating upgrades over the next two years.
A stronger net worth and capital position can influence how rating agencies assess an NBFC’s financial strength and ability to meet its obligations.
Higher credit ratings can help financial institutions access a wider pool of lenders and potentially borrow at more competitive rates.
For a digital lending company, borrowing costs are particularly important because they directly influence the economics of its loan products.
If funding costs decline, the company may be able to improve lending margins while maintaining competitive interest rates for customers.
However, rating upgrades are not guaranteed. They depend on several factors, including asset quality, profitability, capital adequacy, governance and the company’s ability to manage credit risk through different economic cycles.
Kissht’s AUM Crosses ₹10,000 Crore
The preferential issue comes as Kissht continues to expand its lending operations.
The company recently announced that its assets under management had crossed ₹10,000 crore, marking a significant milestone for the digital lending platform.
AUM represents the outstanding value of loans managed by a financial institution or lending platform. Growth in this figure generally indicates an expansion in the scale of lending operations, although it does not by itself measure profitability or asset quality.
Kissht offers digital credit products, including personal loans and loans against property, through its technology platform and NBFC subsidiary.
The company uses data-led underwriting models and digital processes to assess borrowers, distribute loans and manage collections.
Its business has expanded beyond its original checkout-financing offering into a broader consumer lending operation.
Q2 FY27 Profit Doubles to ₹125.12 Crore
Kissht reported strong financial performance in the quarter ended September 30, 2026.
The company disbursed ₹4,612 crore in loans during the quarter, while its net profit increased to ₹125.12 crore from ₹62.4 crore in the corresponding quarter of the previous year.
This represents an increase of approximately 100%.
AUM also increased 68.4% year-on-year, reflecting continued expansion in its lending portfolio.
| Financial and operating metric | Q2 FY27 |
|---|---|
| Loan disbursements | ₹4,612 crore |
| Net profit | ₹125.12 crore |
| Net profit in Q2 FY26 | ₹62.4 crore |
| Year-on-year profit growth | Approximately 100% |
| AUM growth | 68.4% |
The combination of higher loan disbursements, rising AUM and improved profitability provides context for the company’s decision to strengthen its capital base.
However, investors will also monitor credit costs, overdue loans, collection efficiency and funding expenses as the business expands.
Rapid lending growth needs to be supported by disciplined underwriting to avoid deterioration in asset quality.
OnEMI’s Fundraising Follows Its ₹926 Crore IPO
The ₹832.20 crore preferential issue comes only a few months after OnEMI raised approximately ₹926 crore through its initial public offering (IPO) in May 2026.
The IPO comprised a fresh issue of ₹850 crore and an offer for sale of approximately ₹76 crore.
The company had earmarked a substantial portion of the fresh issue proceeds for its NBFC subsidiary, Si Creva Capital Services, to support lending growth.
The latest preferential issue represents another major capital-raising exercise following its market debut.
For OnEMI, raising capital through institutional investors provides additional financial resources without relying exclusively on borrowing to fund expansion.
It also gives the company an opportunity to strengthen its balance sheet as it seeks to increase lending volumes and improve its funding profile.
The Bigger Picture
OnEMI’s ₹832 crore preferential issue highlights the growing importance of capital access for India’s digital lending companies. Platforms such as Kissht need sufficient equity capital to support loan-book expansion, maintain regulatory requirements and manage the risks associated with unsecured consumer lending.
The participation of 24 new investors, including mutual funds, international institutions and financial firms, adds to the company’s shareholder base. The fundraising also comes at a time when Kissht is reporting strong growth in AUM, loan disbursements and profitability.
However, the long-term success of the strategy will depend on more than raising capital. The company must maintain credit quality, control borrowing costs and demonstrate that its lending expansion can generate sustainable returns. Its progress towards credit-rating upgrades will be an important indicator of how effectively it manages these priorities.
Looking Ahead
With the preferential issue completed, Kissht has additional capital to support its lending business through Si Creva Capital Services and strengthen its technology infrastructure. The company’s next priorities are likely to include expanding its loan portfolio, diversifying financial products and improving access to funding. Crossing ₹10,000 crore in AUM provides a larger operating base, but maintaining profitability and asset quality will remain essential as the business grows.
Investors will watch how OnEMI deploys the fresh capital and whether its stronger balance sheet helps achieve the targeted credit-rating upgrades over the next two years. The company’s ability to reduce funding costs, maintain disciplined underwriting and generate consistent earnings will determine whether its rapid expansion translates into long-term shareholder value.
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Meta Description: OnEMI Technology Solutions has completed its ₹832.20 crore preferential issue, allotting shares to 34 investors as Kissht’s AUM crosses ₹10,000 crore.
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