OnEMI Technology Solutions to invest ₹624 crore in Si Creva rights issue

Mergers & acquisitions
financial services

Blacklitt Research28 October 20262 min read

OnEMI Technology Solutions (NSE: KISSHT) will subscribe ₹624.15 crore of equity in its wholly owned subsidiary Si Creva Capital Services Private Limited on a rights basis, it said in a filing on 28 Oct 2026. The same Board meeting approved unaudited consolidated results for the quarter ended 30 Sep 2026.

Key highlights

Subscription: 23,37,516 equity shares at ₹2,670.14 each
Total investment: ₹624.15 crore, paid in cash
Completion due by end of December 2026
Consolidated profit after tax: ₹125.12 crore for the quarter ended 30 Sep 2026

The investment in numbers

Item	Detail
Recipient	Si Creva Capital Services Private Limited, wholly owned subsidiary
Shares	23,37,516 equity shares of face value ₹10 each, on a rights basis
Price per share	₹2,670.14, including premium of ₹2,660.14
Total value	₹624.15 crore, in cash
Completion	By end of December 2026
Related party	Yes, under Section 2(76) of the Companies Act, 2013; Audit Committee approval is exempt under Regulation 23(5)

Si Creva at a glance

Si Creva Capital Services Private Limited is a Middle Layer Non-Deposit taking Non-Banking Financial Company, incorporated on 8 Jul 2015 and present in India. As on 31 Mar 2026 its paid-up share capital was ₹10.00 crore and its net worth was ₹1,231.98 crore.

Its turnover was ₹1,295.21 crore in FY 2023-24, ₹1,092.48 crore in FY 2024-25 and ₹1,541.33 crore in FY 2025-26.

Preferential issue proceeds and the IPO

The Company realised ₹832.20 crore against the allotment made on 23 Oct 2026 under a preferential issue of up to 2,64,93,882 equity shares. At least 75% of those proceeds is to be used to augment the capital base of Si Creva, and the ₹624.15 crore rights investment equals that 75%.

Of the ₹850 crore fresh issue proceeds from the IPO, which was listed on 8 May 2026 at ₹171 a share, ₹834.12 crore was utilised up to 30 Sep 2026 and ₹15.88 crore is unutilised. Unutilised IPO proceeds are parked in current accounts of the Company.

Results for the quarter ended 30 Sep 2026

Consolidated revenue from operations was ₹731.81 crore for the quarter ended 30 Sep 2026, against ₹669.50 crore for the quarter ended 30 Jun 2026 and ₹505.69 crore for the quarter ended 30 Sep 2025. Consolidated profit after tax was ₹125.12 crore, against ₹62.44 crore a year earlier.

Chokshi & Chokshi LLP gave an unmodified opinion in its Limited Review Report on the unaudited results. During the quarter, Si Creva issued 32,500 secured, 11% non-convertible debentures of ₹1 lakh face value each, aggregating ₹325 crore.

What the rights investment means for OnEMI Technology Solutions shareholders

The ₹624.15 crore moves from the Company to its subsidiary, which stays wholly owned after the investment. Neither the investment's effect on consolidated results or the balance sheet, nor what Si Creva will earn from the added capital, is stated.

The next dated step is completion of the investment by the end of December 2026.

Reference: Original filing (PDF)

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