Kissht files DRHP to raise Rs 1,000 Cr via fresh issue

Digital lending platform Kissht, operated by OnEMI Technology Solutions, has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore through a fresh issue of shares. 

The public offer will also include an offer-for-sale (OFS) of 8.88 million equity shares by its early backers including Vertex Ventures, Ventureast, Endiya Seed, AION Advisory and Ammar Sdn Bhd, among others.

According to the DRHP, Ammar Sdn Bhd will offload up to 20.89 lakh shares, while Vertex Ventures plans to sell 39.4 lakh shares. Other selling shareholders include Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory, who are looking for partial exits after nearly a decade of backing the company.

From the fresh issue proceeds, Rs 750 crore will be infused into its NBFC subsidiary, while Rs 250 crore will be allocated for general corporate purposes. Kissht may also explore a pre-IPO placement of up to Rs 200 crore, which, if undertaken, will reduce the size of the public offer.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht provides small-ticket consumer loans and has scaled aggressively on the back of partnerships with merchants across electronics, fashion, travel and other categories. As of March 2025, the company had a registered user base of 53.2 million and claims to have served over 9 million customers, with 1.9 million active borrowers.

Financially, Kissht reported operating revenue of Rs 1,337 crore in FY25 against Rs 1,202 crore in FY24. Its net profit stood at Rs 160 crore during the same fiscal. 

The IPO will be managed by JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital and Centrum Capital, while KFin Technologies will act as registrar.