OnEMI plans next funding round after market debut

By Divya Shah

OnEMI Technology Solutions, the parent company of digital lending platform Kissht, is considering a fresh capital raise four months after its stock market debut. 

The company’s board is scheduled to meet on September 17 to evaluate proposals for raising funds through equity shares, warrants, convertible instruments, or other eligible securities, according to a regulatory filing. 

The fundraising could be undertaken through a preferential issue, private placement, or other permitted routes, subject to necessary regulatory and shareholder approvals. 

While the company confirmed its intention to explore fundraising avenues, it did not disclose the size of the proposed raise or identify potential investors. 

OnEMI also stated that the trading window for designated persons and their immediate relatives has been closed and will remain shut until 48 hours after the outcome of the board meeting is announced, in line with regulatory requirements. 

The proposed fundraising comes shortly after OnEMI’s public market debut. The company raised $96.5 million (INR 926 crore) through its initial public offering (IPO), comprising a fresh issue of $88.6 million (₹850 crore) and an offer for sale of approximately $7.9 million (₹76 crore) by existing shareholders. 

The latest move signals the company’s intent to strengthen its capital base as it continues to expand its presence in India’s digital lending market through the Kissht platform.