Kissht IPO Subscribed Over 9 Times, QIBs Lead Demand

Digital lending platform Kissht, operated by OnEMI Technology Solutions, saw strong investor interest in its initial public offering (IPO), which was subscribed more than nine times by the close of bidding on May 5. 

The demand was largely driven by institutional investors, with the Qualified Institutional Buyers (QIB) segment witnessing a sharp 24.9 times subscription.

According to exchange data, the Non-Institutional Investors (NIIs) portion was subscribed 6.5 times, while the retail investor category showed relatively lower participation at 1.83 times. 

The IPO, which opened for subscription on April 30, was priced in the range of INR 162 to INR 171 per share, with a minimum investment of INR 14,094 for a lot size of 87 shares.

The issue size is estimated at INR 926 crore, comprising a fresh issue of INR 850 crore and an offer for sale (OFS) of around 4.4 million shares valued at approximately INR 76 crore. Existing investors such as Vertex Ventures, Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory are participating in the OFS, with Vertex Ventures offloading the largest portion.

Ahead of the IPO, Kissht raised INR 278 crore from 22 anchor investors. The anchor round included domestic mutual funds and global institutional players such as HDFC Mutual Fund, ICICI Prudential Mutual Fund, WhiteOak Capital, Goldman Sachs, Citigroup, and BNP Paribas.

Founded in 2015, Kissht offers small-ticket consumer loans and has expanded through partnerships across sectors like electronics, fashion, and travel. 

For the nine-month period ended December 2025, the company reported operating revenue of INR 1,560 crore and a net profit of INR 199 crore.