The Securities and Exchange Board of India (SEBI) has granted approval for the initial public offering (IPO) of OnEMI Technology Solutions, the parent company of digital lending platform Kissht, marking a major step in the fintech’s journey toward public listing.
IPO Structure and Backers’ Exit
The IPO will comprise a fresh equity issue of up to ₹1,000 crore, along with an offer for sale (OFS) of around 8.8 million shares by existing investors. A potential pre-IPO placement is also under consideration, which, if executed, could reduce the size of the fresh issue proportionally.
Among existing investors, Ammar Sdn Bhd plans to sell up to 2.09 million shares, while Vertex Ventures will divest 3.94 million shares. Early backers including Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory are expected to partially exit, concluding nearly a decade-long investment in the company.
Use of IPO Funds
Proceeds from the fresh issue are intended to strengthen the capital base of Kissht’s NBFC subsidiary, Si Creva Capital Services, support business expansion, and meet general corporate requirements.
About Kissht
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht is a digital lending platform specializing in small-ticket consumer loans. The company has expanded through merchant partnerships across sectors such as electronics, fashion, and travel. As of March 2025, the platform had 53.2 million registered users and served over 9 million customers, including 1.9 million active borrowers.
Financially, Kissht reported an operating revenue of ₹1,337 crore in FY25, down from ₹1,674 crore in FY24, and a net profit of ₹160 crore. The IPO will be managed by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital Markets, and Centrum Capital, with KFin Technologies acting as the registrar.
Summary
SEBI has approved the ₹1,000 crore IPO of Kissht, India’s leading digital lending platform, along with an OFS for existing investors including Ammar Sdn Bhd and Vertex Ventures. The proceeds will strengthen the NBFC subsidiary Si Creva Capital Services and fund business expansion. Founded in 2015, Kissht serves over 9 million customers and has 53.2 million registered users, positioning the company for further growth in the small-ticket consumer lending segment.
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