Kissht, operated by OnEMI Technology Solutions, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), seeking to raise Rs 1,000 crore through a fresh issuance of equity shares.
In addition to the fresh issue, the public offering will include an offer-for-sale (OFS) of 88.8 lakh equity shares by early investors.
These include prominent backers such as Vertex Ventures, Ventureast, Endiya Seed, AION Advisory, and Ammar Sdn Bhd, who are collectively looking to partially exit after nearly a decade of investment in the company.
As per the DRHP, Ammar Sdn Bhd intends to sell up to 20.89 lakh shares, while Vertex Ventures will divest approximately 39.4 lakh shares.
Other participating shareholders in the OFS include Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.
Of the total proceeds from the fresh issue, Rs 750 crore is earmarked for infusion into Kissht’s non-banking financial company (NBFC) subsidiary, while the remaining Rs 250 crore will be allocated for general corporate purposes.
The company may also consider a pre-IPO placement of up to Rs 200 crore, which, if executed, would reduce the size of the public offering accordingly.
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht has built a strong presence in the digital lending space by offering small-ticket consumer loans.
Its growth has been driven by strategic partnerships with merchants across sectors including electronics, fashion, and travel.
As of March 2025, the platform reported a registered user base of 5.32 crore and claims to have served over 90 lakh customers, with 19 lakh active borrowers.
On the financial front, Kissht reported operating revenue of Rs 1,337 crore for the financial year 2024–25 (FY25), marking a rise from Rs 1,202 crore in FY24. The company posted a net profit of Rs 160 crore for the same period.
The initial public offering will be managed by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital, and Centrum Capital. KFin Technologies has been appointed as the registrar to the issue.
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