Digital lending firm Kissht, operated by OnEMI Technology Solutions, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to
Digital lending firm Kissht, operated by OnEMI Technology Solutions, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at raising up to ₹1,000 crore. This move marks a significant milestone for the fintech company as it prepares to take the public route nearly a decade after its inception.
The IPO will comprise a fresh issue of shares worth ₹1,000 crore along with an Offer for Sale (OFS) by several of its early-stage investors. This dual-structured offer aims to both infuse capital into the business and provide exit opportunities to some long-term investors.
According to the DRHP filed with SEBI, the total size of the IPO includes:
The early backers participating in the OFS include:
These investor exits mark the near end of a decade-long relationship with Kissht, dating back to the firm’s early growth phases. The partial exits reflect a strategic opportunity to unlock value from their early investments, while allowing Kissht to continue on a path of independent growth.
Out of the ₹1,000 crore to be raised through the fresh issue, ₹750 crore will be directed into Si Creva Capital, Kissht’s non-banking financial company (NBFC) subsidiary. This capital infusion will help strengthen Si Creva’s balance sheet, enhance its lending capacity, and support the expansion of its digital lending operations.
The remaining proceeds from the IPO will be used for general corporate purposes, which may include business development, technology upgrades, and operational expansion.
The company has also mentioned in its DRHP that it may consider a pre-IPO placement of up to ₹200 crore. If this placement is successfully executed, the size of the fresh issue in the public offering will be reduced proportionally.
Such placements are typically targeted at institutional investors and can help validate the company’s valuation and investment proposition ahead of the main IPO.
Kissht is a digital lending platform that provides instant credit and financial products to consumers through its proprietary technology stack. Operated by OnEMI Technology Solutions, the platform allows users to access credit across various product categories such as electronics, travel, education, and medical expenses.
The fintech firm operates under a hybrid model, combining technology-driven loan distribution with its NBFC arm, Si Creva Capital, which handles loan disbursements and collections.
Kissht’s model is focused on new-to-credit and underserved customers, leveraging alternative data and machine learning algorithms to assess creditworthiness and offer tailored financial solutions.
Kissht has attracted several prominent venture capital firms and early-stage investors over the years. These include:
These firms are now preparing for partial exits, which is a common route for VCs during the IPO stage of a startup’s lifecycle. The timing of the OFS suggests confidence in market conditions and in Kissht’s readiness to operate as a public company.
Kissht’s IPO filing comes at a time when the Indian fintech space is witnessing renewed investor interest and market activity. After a relatively quiet period for tech IPOs, companies across segments—from digital payments to neo-banking—are now eyeing public markets as a key step in their growth trajectory.
The success of Kissht’s IPO could pave the way for other mid-sized fintech firms with robust customer bases and a strong tech backbone to consider similar moves.
With the DRHP now filed, Kissht awaits SEBI’s review and approval. Following regulatory clearance, the company will proceed with roadshows and investor meetings, likely leading up to its IPO launch date.
In the meantime, the fintech community and capital markets will be watching closely to see how this public debut shapes up, especially considering the high expectations for digital lending firms in India.
Kissht’s decision to go public through a ₹1,000 crore IPO marks a significant chapter in its journey from a VC-backed startup to a mainstream financial services provider. With a clear focus on strengthening its NBFC arm and unlocking investor value, the IPO is poised to attract attention from both institutional and retail investors.
As more fintech firms mature and seek public listings, Kissht’s IPO could serve as a blueprint for capital raising and sustainable scaling in the digital lending space.
