Onelife Capital RI review - (Not Rated)

•    The company is engaged in the business of financial strategic advisory services and related activities.
•    The promoters’ have exited fully in its equity holdings.
•    The RI appears exorbitantly priced considering losses incurred since FY25 onwards.
•    The counter is well managed by vested interest quarters above RI price to lure investors.
•    There is no harm in skipping this risky bet.

ABOUT COMPANY:
Onelife Capital Advisors Ltd., (OCAL) is engaged in the business of financial strategic advisory services, strategic investments in companies, development of proprietary software applications and operational technology modules. Financial strategic advisory services encompass a range of professional assistance provided to businesses to make informed decisions that optimize their financial resources.

The company provides advisory relating to capital raising through debt and equity financing, turnaround planning, capital budgeting and financial modeling. Further, in order to expand its business into diversified business sectors the company have entered into four key areas which are Investment, Management, Technology, Super App and now aiming to position itself as integrated business platform in diversified businesses. It has strategically invested in its subsidiaries to incubate and operate diversified business segments in accordance with its disclosed group structure. Each subsidiary functions as a focused operating entity, enabling efficient execution of sector-specific business strategies.

As on the date of this Letter of Offer it had 8 subsidiaries which are operating in diversified business segments. OCAL exercises strategic, financial and operational oversight through structured governance frameworks, robust management processes and standardized internal control systems. It has developed multiple proprietary software applications and operational technology modules over the past several years, comprising core transaction systems, workflow automation tools, data management frameworks and reporting engines. Certain modules are currently live and operational, while others are under structured testing, validation and phased deployment. These systems are designed to support key operational functions and its subsidiaries, including customer onboarding, compliance monitoring, transaction processing, partner management and internal reporting.

In this journey, the company has developed integrated Portal or Super App called “Onelifetouch” through which company is in process to integrate all its subsidiaries high growth business verticals through which each business vertical will have the access and opportunity to cross sell and upsell their product and services. The entire journey of “Onelifetouch’ is designed keeping customer centric approach wherein it will deliver a great value for customer as each customer would be able to access all group product from a single platform. In addition, it has developed dedicated technology modules for external stakeholders, including business owners, partners, agents and partners, under the framework of “Ready Technologies”. Ready Technologies is a high-impact digital initiative of OCAL, built on deep expertise in developing enterprise-grade technology across multiple industries including financial services, healthcare, automobiles and e-commerce. The platform is designed to instantly transform small shopkeepers, traders and business owners into powerful online enterprises by providing them with the same advanced technology stack, customer reach, product intelligence, pricing competitiveness and logistics infrastructure used by large online platforms. By delivering zero-cost, instant deployment and scalable digital capabilities, Ready Technologies positions small businesses to aggressively compete, expand market reach and capture digital market share at scale. The offer document is silent on its employees’ strength data.

ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 24000000 equity shares of Rs. 10 each at a fixed price of Rs. 15 per share to mobilize Rs. 36.00 cr. The RI opens for subscription on February 23, 2026, and will close on March 06, 2026. The company is offering RI in the ratio of 300 for 167 to its eligible stakeholders as of the record date of February 16, 2026. The company is asking for full money on application for number of shares applied. Post allotment, RI shares will be listed on BSE and NSE. The company is spending Rs. 0.36 cr. for this RI process, and from the net proceeds, it will utilize Rs. 27.00 cr. investment in its subsidiary Dealmoney Commodities Pvt. Ltd. for its margin money funding, and Rs. 8.64 cr. for general corporate purposes.

The RI is solely lead managed by the company itself., and KFin Technologies Ltd. is the registrar to the issue. 

Post-RI, company’s current paid-up equity capital of Rs. 13.36 cr. will stand enhanced to Rs. 37.36 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 56.04 cr. 

FINANCIAL PERFORMANCE:
On the financial performance front, for the last two fiscals, the company has posted total income / net profit/ - (loss), of Rs. 40.17 cr. / Rs. 0.63 cr. (FY24), Rs. 31.78 cr. / Rs. – (4.88) cr. (FY25). For 3Qs of FY26 ended on December 31, 2025, it posted a loss of Rs. – (7.22) cr. on a total income of Rs. 9.45 cr. Its NAV stood at Rs. 18.88 as of December 31, 2025. 

DIVIDEND POLICY:
The company has not paid any dividends for the reported periods. It will adopt a prudent dividend policy, based on its financial performance and future prospects. The offer document is silent on its dividend policy.

SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 533642 (FV Rs. 10).
The scrip last closed on cum-right basis at Rs. 16.64 on February 13, 2026, and opened on an ex-right basis at Rs. 15.75 on February 16, 2026. Since then, it has marked a high/low of Rs. 17.15 / Rs. 15.75. The scrip last closed at Rs. 16.55 as of February 20, 2026. For the last 52 weeks’ it has posted a high/low of Rs. 17.40 / Rs. 8.80.  

The promoters’ holding has been at NIL for the quarter ended December 31, 2025, and constant at 52.10% for the previous two quarter ended September, 2025. The counter is currently well managed by vested interests and traded above the RI price, to tempt investors.