Kissht Operator Files IPO Papers with Sebi

New Delhi, Aug 19 (PTI) OnEMI Technology Solutions, which operates India's digital lending platform Kissht, has filed draft papers with market regulator Sebi seeking its approval to raise funds through an initial public offering (IPO).

The IPO is a combination of fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of 88.79 lakh equity shares by existing investors, according to the draft red herring prospectus (DRHP) filed on Monday.

Under the OFS, shares will be offloaded by Ammar Sdn Bhd, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund Pte Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund and VenturEast SEDCO Proactive Fund LLC.

Proceeds from its fresh issuance worth Rs 750 crore will be utilised for augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements and the rest for general corporate purposes.

The company may opt for a pre-IPO placement of Rs 200 crore. If such placement is completed, the fresh issue size will be reduced accordingly.

Kissht commenced its operations in 2016, and provides swift, accessible and personalised credit solutions to support its customers throughout their financial journeys. It focuses on young individuals within the mass market segment.

As of March 31, 2025, it had 53.23 million registered users and served 9.16 million customers. It maintains a highly granular loan book with over 1.90 million active customers and Rs 4,087 crore in assets under management (AUM) as of March 2025.

Kissht's consolidated revenue from operations and profit after tax stood at Rs 1,337 crore and Rs 161 crore in fiscal 2025.

JM Financial, HSBC Securities and Capital Markets (India) Private Ltd, Nuvama Wealth Management, SBI Capital Markets, and Centrum Capital have been appointed by the company as lead managers to the public offering.