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HT Syndication
Mumbai (Maharashtra) [India], November 11: OnEMI Technology Solutions Ltd, the parent of digital lender Kissht, has allotted 2,64,93,882 equity shares to 34 investors at 314.11 apiece, completing a preferential issue worth 832.20 crore. The new shares received trading approval from BSE and NSE on November 8. The Board approved the allotment on October 23, according to a filing with the exchanges. The shares, with a face value of 1 each, rank equally with the company's existing equity. They take OnEMI's paid-up capital from 17.81 crore to 20.46 crore, which means the new shares make up about 13 per cent of the enlarged capital. The investor list shows a mix of fresh and returning money. Ten of the 34 investors already held shares in the company, among them schemes from Alchemy, First Bridge, Groww and HDFC, and all of them increased their holdings. The other 24 are new, including Axis mutual fund schemes, Ashoka WhiteOak funds, 360 ONE, Bandhan Small Cap Fund, Citigroup Global Markets Hong Kong, Unity Small Finance Bank and the Massachusetts Institute of Technology, the filing showed. From the Board's approval of the issue on September 17 to trading approval on November 8 took about seven weeks, with shareholders approving the proposal at an extraordinary general meeting on October 14. "We are grateful to every investor who has put their trust in Kissht. It is encouraging to see several existing shareholders add to their holdings, and a strong set of new investors join us. This issue gives us a stronger balance sheet to keep building what we set out to: a lender that grows with discipline, underwrites carefully and treats customers fairly. The work from here is to keep earning that trust," said Ranvir Singh, Founder & CEO, Kissht. The completion comes days after the company said Kissht's assets under management had crossed 10,000 crore. In the quarter ended September 30, Kissht disbursed 4,612 crore and reported a net profit of 125.12 crore, double the 62.4 crore a year earlier, with AUM up 68.4 per cent year on year. (ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. ANI will not be responsible in any way for the content of the same.)
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