Kissht to Launch INR 926 Cr IPO on April 30, Sets Price Band at INR 162–171

Digital lending platform Kissht, operated by OnEMI Technology Solutions, has filed its red herring prospectus (RHP) with the Securities and Exchange Board of India (SEBI) in April 2025 and is set to launch its INR 926 crore initial public offering (IPO) on April 30.

The company has fixed a price band of INR 162–171 per equity share. The issue will open for subscription on April 30 and close on May 5, while the anchor investor portion is scheduled to open on April 29. 

At the upper end of the price band, the IPO is expected to value the company at around INR 3,062 crore (around USD 329 million) on a post-money basis.

According to the RHP, Kissht has reduced the size of its fresh issue to INR 850 crore from the INR 1,000 crore proposed earlier. It has also cut the offer for sale to 4.4 million equity shares from 8.8 million shares, now estimated at around INR 76 crore.

Vertex Ventures will lead the offer for sale by offloading about 1.7 million shares. Other investors, including Ammar Sdn Bhd and Ventureast Proactive Fund, are also planning partial stake sales. Endiya Seed Co-creation Fund and AION Advisory are among the additional shareholders participating in the sale.

A major portion of the proceeds from the fresh issue, amounting to INR 637.5 crore, will be infused into its subsidiary Si Creva. The funds are intended to strengthen the subsidiary’s capital base and support future business growth. The remaining proceeds will be used for general corporate purposes.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht provides small-ticket consumer loans and has expanded through partnerships with merchants across sectors such as electronics, fashion and travel.

As of the filing date, Vertex Ventures held a 22.68% stake in the company, followed by Ammar Sdn Bhd at 12.13% and Ventureast Proactive Fund at 8.95%. The co-founders held 18.78% and 13.52%, respectively.

Financially, the company reported operating revenue of INR 1,560 crore and a net profit of INR 199 crore for the nine-month period ended December 2025. In FY25, it posted operating revenue of INR 1,337 crore and a net profit of INR 160 crore.

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