Upcoming IPO: SEBI Approved ₹1,000 Crore Kissht IPO

India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has approved the initial public offering (IPO) of OnEMI Technology Solutions, the parent entity of digital lending platform Kissht.

Kissht IPO Details

According to the draft prospectus, the proposed IPO will consist of a fresh issue of equity shares aggregating up to ₹1,000 crore, alongside an offer for sale (OFS) of approximately 8.8 million shares by existing investors. The company is also evaluating a potential pre-IPO placement, which, if executed, would proportionately reduce the size of the fresh issue.

The OFS will see Ammar Sdn Bhd divest up to 2.09 million shares, while Vertex Ventures plans to sell 3.94 million shares. Other early backers, including Ventureast Proactive Fund, Endiya Seed Co-creation Fund and AION Advisory, are also expected to partially pare their holdings, marking exits after nearly a decade-long association with the company.

Use of IPO Proceeds

Proceeds from the fresh issue are earmarked for strengthening the capital base of Kissht’s NBFC subsidiary, Si Creva Capital Services, supporting business expansion initiatives, and meeting general corporate purposes.

Also Read: Upcoming IPOs This Week (Jan 12- Jan 16): Amagi Media Labs IPO and 5 SME IPO Set to Open Public Offerings

About Kissht

Established in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht focuses on small-ticket consumer lending and has expanded rapidly through partnerships with merchants across categories such as electronics, fashion and travel. As of March 2025, the platform had registered 53.2 million users and served over 9 million customers, including 1.9 million active borrowers.

On the financial front, Kissht reported operating revenue of ₹1,337 crore in FY25, compared with ₹1,674 crore in FY24, while posting a net profit of ₹160 crore during the year. The IPO will be led by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital Markets and Centrum Capital, with KFin Technologies appointed as the registrar.

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