Kissht’s Successful Debut on Indian Stock Exchanges

Digital lending platform Kissht, managed by OnEMI Technology Solutions, marked a notable entry on the Indian stock exchanges. Its shares were listed at Rs 191 each on the BSE, representing an almost 12% increase over the issue price of Rs 171. On the National Stock Exchange (NSE), shares started at Rs 190. After this initial listing, the stock saw a rise of more than 10%, trading around Rs 210 as of 11:20 AM today. At this price point, the firm boasts a market capitalisation of about Rs 3,532 crore ($372 million).

During the subscription phase, the company attracted substantial interest from investors, with the offering being oversubscribed more than nine times. Information from the exchange indicates that the Qualified Institutional Buyers (QIB) segment was subscribed 24.9X, while the Non-Institutional Investors (NIIs) followed with 6.5X. In contrast, the portion reserved for retail investors was less enthusiastic, seeing a subscription rate of just 1.83X.

Details of the IPO

Kissht’s initial public offering (IPO) was open for subscriptions from April 30 to May 5, featuring a price range of Rs 162–171 and a minimum investment requirement of Rs 14,094 for a set of 87 shares. As per its Red Herring Prospectus (RHP), Kissht successfully raised around Rs 926 crore through this IPO, which comprised a fresh equity issue worth Rs 850 crore alongside an offer for sale (OFS) of 4.4 million shares amounting to Rs 76 crore.

The OFS included early investors in Kissht who decided to sell a portion of their holdings. Notable participants included Vertex Venture, Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.

Anchor Investor Support

Before the IPO was launched, Kissht secured Rs 278 crore (around $30 million) from 22 anchor investors. This anchor round attracted participation from several renowned domestic mutual funds and global institutional investors. Key players included HDFC Mutual Fund, ICICI Prudential Mutual Fund, WhiteOak Capital, Goldman Sachs, Citigroup, and BNP Paribas.

Financial Performance

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