OnEMI Technology Solutions, the parent company of lending tech startup Kissht, is set to launch its ₹922 Cr Initial Public Offering (IPO) on April 30. The offering will remain open for bidding until May 5, with anchor bidding scheduled for April 29.
The IPO comprises a fresh issue of shares valued up to ₹850 Cr, a decrease from the initially proposed ₹1,000 Cr outlined in the Draft Red Herring Prospectus (DRHP). Additionally, the offer for sale (OFS) has been reduced to 44.4 Lakh shares.
The company has established a price band of ₹162-171 per share for the public issue. Based on the upper end of this price band, the IPO is expected to value OnEMI Technology Solutions at approximately ₹2,774 Cr (about $294.3 Mn).
Several investors, including Vertex Ventures, Endiya Partners, Ventureast, and AION Advisory Services, are planning to divest their shares through the OFS component.
Kissht, founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, operates as a lending tech platform providing personal and business loans up to ₹5 Lakh with minimal digital documentation. The company also offers health insurance products and secured loans, including loans against property.
Kissht initially filed its DRHP in August 2025 and secured SEBI clearance for the IPO in January.
In the first three quarters of FY26, Kissht reported a profit after tax (PAT) of ₹199.3 Cr on an operating revenue of ₹1,569.9 Cr. In FY25, the company’s PAT decreased by about 18% to ₹160.6 Cr from ₹197.3 Cr in the previous fiscal year. Operating revenue also saw a decline of over 20%, falling to ₹1,337.5 Cr from ₹1,674.5 Cr in FY24.
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