OnEMI Tech shares rise 7% after AUM milestone and fundraise
The parent company of Kissht saw its stock rally following the announcement that assets under management crossed ₹10,000 crore.
Shares of OnEMI Technology Solutions Limited, the parent company of Kissht, rose nearly 7.40 per cent during Thursday's intraday trading session, according to Mint. The rally follows the company's announcement that its assets under management (AUM) have crossed the ₹10,000 crore milestone.
The company, a digital lender, issued a press release on Wednesday after market trading hours regarding the AUM milestone. This development comes days after the firm secured a ₹832 crore fundraise through a preferential issue of equity shares on a private placement basis.
Kissht Chairman, Director and CEO Ranvir Singh said that crossing ₹10,000 crore in AUM is a significant milestone in the company's journey. He stated the growth is built on disciplined underwriting, robust collections and a scalable, technology-led platform.
As per a BSE filing, the company approved the allotment of 2,64,93,882 equity shares with a face value of INR 1 each. The company aims to expand credit offerings across India using AI-led underwriting models and technology-enabled collections infrastructure.
The stock was trading 7.34 per cent higher at ₹338.60 per share on the BSE at 1:17 pm on Thursday. The company's market capitalisation stood at ₹6,030.94 crore at that time.