Kissht Kicks Off IPO Journey, Converts Into Public Entity

SUMMARY

At a meeting held on June 17, Kissht’s shareholders passed a resolution to convert the startup to a public limited entity from a private limited company

As per Kissht’s RoC filings, its IPO will comprise a fresh issue of equity shares and offer for sale

While Kissht is expected to file its DRHP by the end of this month, earlier reports suggested that the startup is eyeing an IPO size of $225 Mn

Taking its first formal step towards a public listing, fintech startup Kissht has turned into a public entity.

As per its filings with the Registrar of Companies (RoC), the startup’s shareholders, during a meeting held on June 17, 2025, passed a resolution to convert to a public limited entity from a private limited company – a mandatory step for firms aiming to list on Indian stock exchanges.

Following the move, the company’s name has changed to OnEMI Technology Solutions Limited from OnEMI Technology Solutions Private Limited previously.

The conversion is part of Kissht’s broader plan to raise funds through its IPO. As per the filings, the IPO will comprise a fresh issue of shares and offer for sale (OFS).

According to a report by Livemint, Kissht is expected to file its DRHP by the end of this month. Ahead of the listing, the startup has also strengthened its board by appointing Alok Bansal (PB Fintech cofounder) and Sangeeta Pendurkar (Aditya Birla Fashion and Retail CEO) as independent directors.

Earlier, reports said that the startup was eyeing an IPO of around $225 Mn (nearly INR 1,926 Cr).

Kissht was also said to have roped in ICICI Securities, UBS Securities, and Motilal Oswal as lead bank managers for the public issue.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht is a lending tech platform that claims to offer quick and easy access to personal and business loans of up to INR 5 Lakh with minimal documentation digitally. Kissht also offers health-related insurance products.

The fintech startup has raised more than $142 Mn in funding to date and counts the likes of Endiya Partners, Brunei Investment Authority, among others, as its investors. It competes with the likes of Moneyview, Lendingkart, Capital Float, FlexiLoans, and KredX.

Kissht’s IPO plans come at a time when a growing number of Indian startups are gearing up to go public. In the past week, four new-age tech companies filed their draft IPO papers with SEBI. Just a day ago, Shadowfax filed its DRHP via the confidential pre-filing route. Besides, Curefoods, Pine Labs and Wakefit filed their IPO papers over the last few days.

While investor interest in new-age tech IPOs remains strong, especially in India, profitability continues to be a key focus area. On this aspect, Kissht appears well-positioned.

The fintech startup’s net profit surged 234% to INR 82.46 Cr in FY24 from INR 24.67 Cr in the previous year. Operating revenue surged nearly 60% to INR 412 Cr from INR 258 Cr in FY23.