Kissht IPO: Strong Demand from Investors

Kissht has made headlines with its recent IPO, marking a strong demand for its shares that surged over 9 times by the end of bidding. The remarkable subscription was significantly propelled by institutional investors, with the Qualified Institutional Buyers (QIB) segment witnessing nearly 25X oversubscription.

Subscription Details

Data from the exchange indicate that the QIB portion achieved a subscription rate of 24.9X, while Non-Institutional Investors (NIIs) subscribed at a level of 6.5X. In contrast, interest from retail investors was more subdued, recording a subscription rate of 1.83X.

IPO Timeline and Pricing

Kissht’s IPO was available for subscription from April 30 to May 5, with a price range set between Rs 162 and Rs 171. Investors were required to make a minimum investment of Rs 14,094 for a lot comprising 87 shares.

Financial Overview

The initial public offering (IPO) is valued at Rs 926 crore, which includes a fresh issue of Rs 850 crore along with an offer for sale (OFS) of 4.4 million shares, estimated at around Rs 76 crore. Vertex Ventures is set to lead the OFS by selling 1.7 million shares, collaborating with other investors such as Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.

Anchor Investor Participation

Prior to the IPO launch, Kissht successfully secured Rs 278 crore (approximately $30 million) from 22 anchor investors. The anchor book showcased a diverse array of prominent domestic mutual funds and international institutional investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, WhiteOak Capital, Goldman Sachs, Citigroup, and BNP Paribas.

Company Background

Established in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers small-ticket consumer loans and has exhibited impressive growth through partnerships with merchants in sectors such as electronics, fashion, and travel.

Performance Metrics

For the nine-month period concluding in December 2025, Kissht recorded an operating revenue of Rs 1,560 crore, coupled with a net profit of Rs 199 crore. In FY25, the company reported operating revenue of Rs 1,337 crore along with a net profit of Rs 160 crore.