Kissht DRHP: Rs 1,000 crore fresh issue, Vertex and other investors to sell stake
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OnEMI Technology Solutions, which runs fintech lending app Kissht, has filed its draft red herring prospectus (DRHP) with Sebi for a public listing . The company plans to raise Rs 1,000 crore through a fresh issue of shares, while around 8.8 million equity shares have been put up for sale by existing investors.Kissht said Rs 750 crore from the proceeds will be infused into its in-house non-banking finance company , Si Creva. The rest will go towards general corporate purposes. Additionally, Kissht is looking to raise around Rs 200 crore via a pre-IPO placement, which, if successful, will reduce the overall size of the public issue.According to draft papers, the OFS ( offer for sale) comprises shares held by Vertex Ventures , Ventureast, Endiya Seed and Aion Advisory Services. As per Tracxn, Vertex holds 24% in Kissht, Ventureast 10%, and the Ministry of Finance, Economy of Brunei about 12.5%. The founders collectively own around 26%.Kissht is among the first digital lending startups to file its DRHP. Moneyview is also preparing to file, while ET reported on July 23 that KreditBee secured board approval to convert into a public limited company ahead of its own IPO.Kissht closed FY25 with operating revenue of Rs 1,337 crore, down 20% from Rs 1,674 crore in FY24. Profit slipped 19% to Rs 160 crore, compared with Rs 197 crore a year earlier. ET reported on July 22 that Kissht's business was hit by a slowdown in consumer lending .It disbursed Rs 9,857 crore in FY25, sharply lower than Rs 18,531 crore in FY24. The company also shifted away from short-tenure unsecured loans to longer-tenure products: about 95% of its book now comprises loans with tenure above six months, up from 65% a year ago.Founded in 2015 by former McKinsey executives Ranvir Singh and Krishnan Vishwanathan, Kissht started as a tech-led consumer lending business with a focus on checkout finance. It offers instant personal loans through its own balance sheet as well as partnerships with around 38 lenders.As of March 2025, Kissht had a loan book of Rs 4,086 crore, of which about 60% was on its own books and the rest through partner lenders.
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