Digital lending platform Kissht, operated by OnEMI Technology Solutions, saw its initial public offering (IPO) subscribed over 9 times by the close of bidding, reflecting strong investor appetite led by institutional participation.
The Qualified Institutional Buyers (QIB) segment was subscribed 24.9 times, emerging as the key driver of demand. The Non-Institutional Investors (NII) category saw a 6.5x subscription, while the retail portion remained relatively subdued at 1.83x.
The IPO, which was open for subscription between April 30 and May 5, was priced in the range of ₹162–₹171 per share, with a minimum investment requirement of ₹14,094 for a lot size of 87 shares.
As per its red herring prospectus, the issue size is ₹926 crore, comprising a fresh issue of ₹850 crore and an offer for sale (OFS) of 4.4 million shares worth around ₹76 crore. Existing investors, including Vertex Ventures, Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory, are partially exiting through the OFS.
Ahead of the public issue, the company had raised ₹278 crore from 22 anchor investors, including major domestic mutual funds such as HDFC Mutual Fund and ICICI Prudential Mutual Fund, along with global institutions like Goldman Sachs, Citigroup, and BNP Paribas.
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers small ticket consumer loans and has scaled through partnerships across categories such as electronics, fashion, and travel.
Financially, the company reported ₹1,560 crore in operating revenue and ₹199 crore net profit for the nine months ended December 2025, while FY25 revenue stood at ₹1,337 crore with a net profit of ₹160 crore.
The strong institutional demand indicates confidence in the company’s growth prospects, even as retail participation remained moderate.
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