OnEMI Technology Solutions Limited, the listed parent of digital lending platform Kissht, has received board approval to raise approximately Rs 832 crore through a preferential issue of equity shares, subject to shareholder and regulatory approvals.

The proposed issue will see participation from investors including Axis Mutual Fund, HDFC Mutual Fund, Massachusetts Institute of Technology, White Oak, 360 One, Groww Mutual Fund and Bandhan Mutual Fund.

Of the funds raised, 75% will be infused into wholly owned subsidiary Si Creva Capital Services, providing Kissht with additional capital to expand its lending business, strengthen technology and digital capabilities, broaden product offerings and increase its reach among target customers.

The remaining 25% will be used for general corporate purposes and is expected to support the company’s broader growth strategy.

Kissht also aims to pursue multiple credit rating upgrades over the next two years, with the company stating that stronger capitalisation could support lower borrowing costs, broader access to capital and increased lending capacity.