Kissht files DRHP for IPO

Mumbai, 20 August 2025:  Fintech lender Onemi Technology Solutions, operating under the brand Kissht, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹1,000 crore through an initial public offering (IPO). The move aims to bolster the capital base of its subsidiary, Si Creva, a mid-tier non-banking financial company (NBFC), supporting future growth.

IPO Structure: ₹1,000 Crore Fresh Issue Combined with 8.88 Million Share Offer-for-Sale by Early Investors

Kissht’s IPO comprises a fresh issue of equity shares worth ₹1,000 crore and an offer-for-sale (OFS) of 8.88 million shares by early investors. Key selling shareholders include Vertex Ventures, Ammar Sdn Bhd, Ventureast, Endiya Seed, and AION Advisory, with Vertex Ventures planning to sell 3.94 million shares and Ammar Sdn Bhd 2.089 million shares. The company may also pursue a pre-IPO placement of up to ₹200 crore, which would proportionately reduce the fresh issue size.

Of the fresh issue proceeds, ₹750 crore is earmarked to strengthen Si Creva’s capital base, facilitating its lending operations to salaried and self-employed borrowers. The remaining ₹250 crore will be deployed for general corporate purposes, enhancing operational flexibility and funding strategic initiatives.

Financial Performance: FY25 Revenue at ₹1,337 Crore, Profit Declines 18% YoY Amid Disbursement Slowdown

Kissht reported operating revenue of ₹1,337 crore in FY25, down 20.1% from ₹1,672 crore in FY24, while net profit declined 18.6% to ₹160.6 crore. The company’s loan disbursement fell 46.8% to ₹9,857.8 crore during the same period, reflecting moderation in lending activity. The lender’s assets under management (AUM) rose to ₹4,086.6 crore, up from ₹2,604.2 crore in FY24, with over 19 lakh active customers as of March 2025.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht provides small-ticket consumer loans through its mobile app, serving electronics, fashion, and travel sectors. Onemi Technology Solutions holds 53.67% promoter stake, with remaining 46.33% held by institutional investors like Sistema PJSFC, and VenturEast. Kissht has registered over 53 million users and 1.9 million active borrowers, positioning it as a leading digital lending platform in India.

The IPO will be managed by ICICI Securities, UBS Securities India, Motilal Oswal, JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital Markets, and Centrum Capital, with KFin Technologies acting as registrar. This filing marks Kissht as one of the first digital lending startups to enter India’s public markets, reflecting growing investor interest in the fintech sector.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source : DRHP