Highlights
Kissht’s IPO Launch: Digital Lending Platform Offering Rs 926 Crore
Digital lending platform Kissht, run by OnEMI Technology Solutions, has submitted its RHP to the Securities and Exchange Board of India (SEBI) in April 2025. The company is gearing up to launch its IPO worth Rs 926 crore on April 30. The price range for its shares has been set between Rs 162 and Rs 171, with subscriptions opening on April 30 and closing on May 5. The anchor book will be accessible starting April 29.
Valuation and Issue Details of Kissht
At the top end of the pricing range, the company’s valuation stands at approximately Rs 3,062 crore (around $329 million) following the issue. As reported in its RHP, Kissht has scaled back the size of its fresh issue to Rs 850 crore from the previously suggested Rs 1,000 crore outlined in the earlier DRHP submitted in August 2025. The offer for sale has been adjusted, with the number of equity shares decreasing to 4.4 million from 8.8 million, now estimated to yield around Rs 76 crore.
Key Stakeholders in the Offer for Sale
Vertex Ventures will take the lead in the OFS by offloading 1.7 million shares, with Ammar Sdn Bhd and Ventureast Proactive Fund following suit. Other sellers include the Endiya Seed Co-creation Fund and AION Advisory, both of which are planning to sell portions of their stakes.
Use of Proceeds from the IPO
A significant portion of the funds raised from the fresh issue, totalling Rs 637.5 crore, is earmarked for investment into its subsidiary, Si Creva, to bolster its capital reserves and foster future business expansion. The balance will be used for general corporate needs.
About Kissht
Established in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht specializes in offering small consumer loans and has rapidly expanded through collaborations with merchants in sectors including electronics, fashion, and travel.
As of the filing date, Vertex Ventures holds the position of the largest external shareholder with a 22.68% stake, followed by Ammar Sdn Bhd with 12.13% and Ventureast Proactive Fund with 8.95%. Meanwhile, co-founders Ranvir Singh and Krishnan Vishwanathan possess stakes of 18.78% and 13.52%, respectively.
Financial Performance
For the nine-month period ending December 2025, Kissht reported an operating revenue of Rs 1,560 crore, translating into a net profit of Rs 199 crore. In FY25, the company recorded Rs 1,337 crore in operating revenue, with a net profit of Rs 160 crore.
Management of the IPO
The IPO will be overseen by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital, and Centrum Capital, while KFin Technologies will serve as the registrar.