Kissht: Digital Lending Platform to Raise Rs 1,000 Crore in IPO

Digital lending platform Kissht, which is managed by OnEMI Technology Solutions, has submitted draft documentation to the Securities and Exchange Board of India (SEBI) in order to raise Rs 1,000 crore via a new share issue. This public offering will also feature an offer-for-sale (OFS) of 8.88 million equity shares from early investors like Vertex Ventures, Ventureast, Endiya Seed, AION Advisory, and Ammar Sdn Bhd, among others.

Details of the Offer

According to the Draft Red Herring Prospectus (DRHP), Ammar Sdn Bhd is set to sell up to 20.89 lakh shares, while Vertex Ventures intends to offload 39.4 lakh shares. Additional selling stakeholders include the Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory, all of whom are seeking partial exits after supporting the company for nearly a decade.

Utilisation of IPO Proceeds

From the funds raised through this new issue, Rs 750 crore will be directed towards its non-banking financial company (NBFC) subsidiary, while Rs 250 crore is earmarked for general corporate needs. Kissht is also contemplating a pre-IPO placement of up to Rs 200 crore, which, if executed, could lead to a decrease in the overall size of the public offering.

Company Background and Growth

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers small-ticket consumer loans and has experienced rapid growth due to collaborations with merchants in sectors such as electronics, fashion, and travel. By March 2025, the company reported a registered user base of 53.2 million and stated that it has assisted over 9 million customers, with 1.9 million active borrowers.

Financial Performance

Financially, Kissht reported an operating revenue of Rs 1,337 crore for FY25, compared to Rs 1,202 crore in FY24. The company’s net profit was Rs 160 crore during the same fiscal period.

IPO Management

The IPO will be coordinated by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital, and Centrum Capital, whereas KFin Technologies will serve as the registrar.