OnEMI Technology Solutions, the parent company of digital lender Kissht, has completed a preferential issue worth ₹832.20 crore, allotting shares to 34 investors, including Axis Mutual Fund schemes, Citigroup Global Markets Hong Kong and the Massachusetts Institute of Technology.
OnEMI shares have gained around 70% in six months, although they declined in trade on November 11 after four consecutive sessions of gains.
OnEMI allotted 2,64,93,882 equity shares to 34 investors at ₹314.11 apiece, completing a preferential issue worth ₹832.20 crore. The shares, each with a face value of ₹1, received trading approval from the BSE and NSE on November 8.
The company's board approved the allotment on October 23, according to its exchange filing. The newly issued shares rank equally with existing equity shares and account for approximately 13% of the enlarged share capital.
The investor list includes both existing shareholders and new participants. Ten of the 34 investors already held shares in OnEMI and increased their holdings through the issue. These included schemes from Alchemy, First Bridge, Groww and HDFC.