16-May-2026      13:01

Board of OnEMI Technology Solutions approves investment of Rs 637.5 cr in Si Creva

The board of OnEMI Technology Solutions at its meeting held today, i.e. on 16 May 2026, has approved, pursuant to the objects of the Initial Public Offering (IPO) of the Company, the utilization of the net proceeds received from the fresh issue portion of the IPO towards augmentation of the capital base of Si Creva Capital Services (Si Creva), a wholly owned subsidiary of the Company, by way of an investment aggregating to Rs 637.50 crore.

The investment shall be made through subscription to 30,00,000 (Thirty Lakh) equity shares of face value of Rs 10/- each at a premium of Rs 2,115/- per equity share, aggregating to Rs 2,125/-  per equity share, offered by Si Creva on a rights basis.

News source: Capital Market - Live News