Kissht Cofounders Buy ₹400 Cr Shares Ahead of IPO

The cofounders of OnEMI Technology Solutions, the parent company of digital lending startup Kissht, have significantly increased their stakes through secondary transactions valued at over ₹400 Cr. These transactions, which took place on March 4, occurred as the company prepares for its Initial Public Offering (IPO).

Ranvir Singh, cofounder and CEO, acquired approximately 17.7 Lakh shares for about ₹355 Cr. The shares were bought from fellow cofounder Abhijit Bhandari and AION Advisory Services. Bhandari, who is no longer in an executive role, now holds a 1.22% stake in the company.

Krishnan Vishwanathan, cofounder and CFO, also participated in the share acquisition, purchasing around 2.6 Lakh shares for approximately ₹53 Cr from Vertex Ventures SEA Fund III and VenturEast SEDCO Proactive Fund. The transactions were executed at a price of approximately ₹201 per share, exceeding the IPO’s price band of ₹162-171.

These secondary transactions appear to have influenced the IPO’s structure, leading to a reduction in the Offer for Sale (OFS) component to roughly 44.4 Lakh shares from the initially proposed 88.8 Lakh shares. The size of the fresh issue has also been trimmed to ₹850 Cr from ₹1,000 Cr.

Following these deals, Singh’s and Vishwanathan’s stakes in Kissht have risen to 18.8% and 13.5%, respectively. Founded in 2015, Kissht operates as a lending tech platform offering personal and business loans up to ₹5 Lakh with minimal documentation, alongside insurance products and secured loans.

Kissht received SEBI approval for its IPO in January 2026, with anchor bidding scheduled for April 29 and the IPO opening on April 30. The company reported a profit after tax (PAT) of ₹199.3 Cr on operating revenue of ₹1,569.9 Cr in the first three quarters of FY26. In FY25, PAT stood at ₹160.6 Cr, a decrease from ₹197.3 Cr in FY24, with operating revenue falling to ₹1,337.5 Cr from ₹1,674.5 Cr in the previous fiscal year.