SEBI Clears Kissht’s INR 1,000+ Cr IPO

SUMMARY

As per the latest update on SEBI website, the regulator issued observations to the startup’s parent OnEMI Technology on January 8

Kissht filed its draft red herring prospectus (DRHP) in August 2025 to raise up to INR 1,000 Cr via fresh issue

In its run up to the IPO, Kissht converted into a public entity in July last year and changed its name to OnEMI Technology Solutions Ltd

Lending tech startup Kissht has secured markets regulator SEBI’s nod to proceed with its public listing.

As per the latest update on SEBI website, the regulator issued observations to the startup’s parent OnEMI Technology on January 8. In SEBI’s parlance, issuance of observations is a green light to proceed with the public offer.

Kissht filed its draft red herring prospectus (DRHP) in August 2025 to raise up to INR 1,000 Cr via fresh issue. Its IPO will also comprise an offer-for-sale (OFS) component of up to 88.8 Lakh shares.

As part of the OFS, investors including Vertex Ventures, Endiya Partners, Ventureast, among others, would pare their stakes.

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

Kissht operates on a hybrid model and currently offers loans against property through 62 branches across six states and one Union Territory.

The startup has raised more than $142 Mn in funding to date. It competes with the likes of Kreditbee, Fibe, Navi Finserv, Moneyview, Lendingkart, among others.

In its run up to the IPO, Kissht converted into a public entity in July last year and changed its name to OnEMI Technology Solutions Ltd from OnEMI Technology Solutions Pvt Ltd previously.

On the financial front, the Mumbai-based startup’s net profit declined 18.6% to INR 160.62 Cr in FY25 from INR 197.29 Cr in the previous fiscal year. Operating revenue fell over 20% to INR 1,337.47 Cr during the year under review from INR 1,674.45 Cr in FY24.

Unsecured personal lending accounted for 98% of its AUM in FY25. The startup plans to to use INR 750 Cr from the IPO proceeds to augment the capital base of Si Creva, its NBFC arm. The startup disburses personal loans through Si Creva.