OnEMI Technology Solutions Board Approves ₹624.15 Crore Rights Issue Investment In Wholly-Owned Subsidiary Si Creva Capital

Mumbai: OnEMI Technology Solutions Ltd will invest ₹624.15 crore in its wholly-owned subsidiary, Si Creva Capital Services Private Limited, through a rights issue. The investment, approved by the company's board on Wednesday, October 28, 2026, will be used to augment Si Creva's capital base.

Investment Details

The investment will be made through the subscription of 23,37,516 equity shares of face value ₹10 each at a price of ₹2,670.14 per equity share, including a premium of ₹2,660.14. These shares will rank pari passu with existing equity shares.

Purpose of Funds

At least 75 per cent of the proceeds from this preferential issue will be utilised to increase Si Creva’s capital base. This is to meet future capital requirements arising from the growth of its business.

Subsidiary Background

Si Creva Capital Services Private Limited, incorporated on July 8, 2015, operates as a Middle Layer Non-Deposit taking Non-Banking Financial Company in India. Its turnover for FY 2025-26 was ₹1,541.33 crore, with ₹1,092.48 crore in FY 2024-25 and ₹1,295.21 crore in FY 2023-24.

Related Party Transaction

Si Creva is a wholly-owned subsidiary of OnEMI Technology, qualifying the transaction as a related party transaction under Section 2(76) of the Companies Act, 2013.

Management Interest

Ranvir Singh, Whole Time Director, and Krishnan Vishwanathan, Managing Director & CEO of Si Creva, also serve as Executive Directors of the company. No other promoters or group companies have interests in Si Creva.

Completion Timeline

The investment is expected to be completed by the end of December 2026. The company confirmed that the Statutory Auditors have provided an unmodified opinion on the unaudited financial results.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.