Liquidity Events
Digital lender Kissht's IPO subscribed 1.9x
OnEMI Technology Solutions, the parent company of Mumbai-based digital lender Kissht , saw its initial public offering (IPO) fully subscribed on the final day of bidding, with bids for 7.35 crore shares against 3.98 crore shares on offer, resulting in an overall subscription of 1.85X. The IPO consists of a fresh issue of shares worth INR 850 crore and an offer for sale of 4.44 lakh shares.Qualified institutional buyers (QIBs) subscribed 4.85X, bidding for 5.48 crore shares against 1.13 crore shares reserved for them. Non-institutional investors (NIIs) subscribed 1.53X, with bids for 1.30 crore shares against 85.36 lakh shares. Retail investors' portion was subscribed 28%, with bids for 56.45 lakh shares against 1.99 crore shares.Kissht had previously raised INR 277.8 crore from anchor investors. Co-founders Ranvir Singh and Krishnan Vishwanathan acquired shares worth over INR 40 crore from existing investors through secondary transactions. At the upper end of the price band of INR 162-171, the IPO values the company at about INR 2,881 crore (USD 294.3 million).Founded in 2015, Kissht operates as a lending tech platform providing digital personal and business loans. The company also offers health-related insurance products and secured loans, including loans against property.During the first nine months of FY26, Kissht reported a profit of INR 199.3 crore and a revenue of INR 1,569.9 crore.
Between Jul 2016 and Apr 2024, Kissht had attracted about USD 152 M from Endiya Partners, Fosun Group, Ventureast, Sistema Asia Fund, Vertex, Sachin Bansal, Northern Arc Capital, Trifecta Capital, SEA Fund and others.
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