Fintech startup Kissht is moving forward with its Initial Public Offering (IPO) despite prevailing market volatility and geopolitical tensions in West Asia. The company is leveraging its financial performance, significant anchor investor interest, and a refined lending strategy to make a mark on the stock exchanges.
Following a difficult Fiscal Year 2025, which saw declines in both revenue and profit due to regulatory changes concerning unsecured lending, Kissht adjusted its strategy. The company reduced loan disbursements and focused on lower-risk borrowers to maintain profitability, prioritizing quality growth over volume. This approach proved successful, as Kissht reported a Profit After Tax (PAT) of ₹199.3 Crore in the first nine months of FY26.
Kissht’s IPO pitch also highlights its Assets Under Management (AUM) growth, which more than doubled to ₹5,956 Crore between March 2024 and December 2025. This expansion was supported by its in-house Non-Banking Financial Company (NBFC), which allows the startup to maintain control over underwriting, loan pricing, and collections, thereby managing risk more effectively.
To diversify its risk, Kissht is also expanding its secured lending segment, specifically loans against property, which currently accounts for 5% of its revenue but offers long-term asset stability. The company is further enhancing customer engagement by offering cross-sell products like health insurance to its base of 11.17 million registered customers.
In an effort to attract institutional investors, Kissht revised its IPO structure. The fresh issue was reduced by 15% to ₹850 Crore, and the Offer for Sale (OFS) was nearly halved. Additionally, the co-founders purchased shares worth ₹40 Crore at a premium of ₹201 per share, exceeding the IPO price band of ₹162-171.
These measures helped Kissht secure ₹278 Crore from anchor investors, and its public issue was subscribed 24% on its first day. The company is betting on its turnaround strategy and robust financial health for a successful IPO.
In other news, Indian startups collectively raised $204 million across 19 deals last week, a significant increase from the $39 million raised in the previous week. Fintech led the funding as the most funded sector with $57.5 million across three deals. Meanwhile, the government has notified 100% Foreign Direct Investment (FDI) in the insurance sector under the automatic route, raising the cap from 74%.
UPI transactions saw a marginal decline in April, with 2,235 crore transactions processed, down 1.3% from March. However, the average daily transaction value increased by 1.6%.
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