Kissht makes strong debut on stock markets, shares up 22%
Kissht raised Rs 926 crore in its initial public offering (IPO), which was a combination of fresh issue of shares and offer of sale (OFS).
Digital lending platform Kissht made its debut on Indian stock exchanges on Friday with share price rising by 12% during early morning trade as against its issue price of Rs 171.
Kissht raised Rs 926 crore in its initial public offering (IPO), which was a combination of fresh issue of shares and offer of sale (OFS). The fresh issue was Rs 850 crore and remaining Rs 76 crore was via OFS.
The issue was oversubscribed 9.5 times.
The company's share price continued to rise through the day and ended at Rs 209 on the NSE registering a 22% increase.
The OFS saw the participation of existing investors of Kissht like Ammar Sdn Bhd, Vertex Venture, Venturest, AION Advisory Services and Endiya Partners. Ahead of the IPO, the company raised Rs 277.8 crore from anchor investors including HDFC Mutual Fund, ICICI Prudential, Whiteoak Capital, Bandhan Bank, Goldman Sachs, New York State Teachers Retirement System, BNP Paribas, and Citigroup.
On the financial performance, Kissht registered an operating revenue of Rs 1,560 crore and a net profit of Rs 199 crore for the nine months of FY26. For FY25, it reported an operating revenue of Rs 1,337 crore and net profit of Rs 160 crore.
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht is a lending tech platform that offers personal and business loans of up to Rs 5 Lakh with minimal documentation. It also offers health-related insurance products and secured loans.
Kissht has become the sixth Indian startup to be listed on the stock exchanges this year. The others include Amagi, Aye Finance, Fractal, Sedemac and Shadowfax. Though there was optimism at the start of the year on more Indian startups getting listed, these went to the backburner following the tension between US and Iran.