OnEMI Technology Solutions to Invest INR 6,37,50,00,000 in Subsidiary Si Creva Capital Services
OnEMI Technology Solutions Limited, a company that operates within the Financial Service Industry, has approved a significant investment in its wholly owned subsidiary, Si Creva Capital Services Private Limited. The investment, totaling INR 6,37,50,00,000, aims to strengthen the capital base of Si Creva and fuel its future business growth.The Board of Directors of OnEMI Technology Solutions Limited approved the utilization of the net proceeds from the fresh issue portion of the company's Initial Public Offering (IPO) for this acquisition.
The investment involves the subscription of 30,00,000 equity shares issued by Si Creva on a rights basis. Details of the share structure show that the shares have a face value of INR 10 each, and the investment is being made at a premium of INR 2,115 per share, resulting in a total transaction price of INR 2,125 per equity share.
Si Creva Capital Services Snapshot
Si Creva Capital Services Private Limited, the target entity, is a wholly owned subsidiary of OnEMI Technology Solutions Limited. Financial details regarding the subsidiary reveal its operational scale and capitalization.| Metric | Detail |
|---|---|
| Paid up share capital (March 31, 2025) | INR 8,89,47,120 |
| Networth (as on March 31, 2025) | INR 858.98 crores |
| Industry | Financial Service Industry |
Historical Turnover and Financial Data
The company provided the following historical turnover data for Si Creva:| Financial Year | Turnover (Rupees crores) |
|---|---|
| FY 2022-23 | 829.60 |
| FY 2023-24 | 1295.21 |
| FY 2024-25 | 1092.48 |
Transaction Scope
The total investment amounts to INR 6,37,50,00,000, acquired through 30,00,000 equity shares. The transaction, which is classified as a related party transaction since Si Creva is a wholly owned subsidiary, is stated to be undertaken on an arm's length basis.The primary objective of the acquisition is to augment the capital base of Si Creva, thereby supporting the subsidiary's capital requirement arising out of its business growth. OnEMI Technology Solutions Limited affirmed that following this additional acquisition, Si Creva shall continue to remain a wholly owned subsidiary.
KISSHT Stock Price Movement
OnEMI Technology Solutions slipped by 3.46% to settle at ₹196.07 on Friday. The stock found support near its daily low of ₹194.34, as the equity posted a trading volume of 3.92 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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