Digital lender Kissht seeks Rs 1,000 Cr via IPO; investors to sell 8.9M shares
Kisshta may also consider a pre-IPO placement of up to Rs 200 crore, which would reduce the fresh issue size if completed.
OnEMI Technology Solutions Ltd., the Mumbai-based parent of digital lender Kissht, has filed draft papers with India’s markets regulator to raise as much as Rs 1,000 crore through an initial public offering.
The offering will comprise a fresh issue of shares worth up to Rs 1,000 crore and an offer for sale of as many as 8.9 million shares by existing investors, including Ammar Sdn Bhd, Vertex Ventures and Ventureast funds.
The company may also consider a pre-IPO placement of up to Rs 200 crore, which would reduce the fresh issue size if completed.
"The proceeds from its fresh issuance worth Rs 750 crore will be utilised for augmenting the capital base of its Subsidiary, Si Creva, to meet its future capital requirements arising out of the growth of its Subsidiary, Si Creva’s, business; and general corporate purposes," The company said in a release.
The shares are proposed to be listed on the BSE and NSE. JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital Markets, and Centrum Capital are acting as book-running lead managers.
Founded in 2016, Kissht offers small-ticket personal and business loans via its mobile app. Kissht’s customer base is largely urban and mass-market, with a median CIBIL score of 746 and two-thirds earning between Rs 25,000 and Rs 75,000 a month.
As of March 31, 2025, the platform had 53.2 million registered users and a loan book of Rs 40,867 crore across 1.9 million active customers.
The company reported revenue of Rs 1,337 crore and profit after tax of Rs 161 crore in fiscal 2025, compared with Rs 277 million profit in fiscal 2023. Its assets under management have grown at a compounded annual rate of nearly 80% over the same period.
Edited by Jyoti Narayan