Kissht IPO Subscribes 34% on Day 2; Investor Interest Grows

The public issue of OnEMI Technology Solutions, the parent company of the lending tech platform Kissht, has seen a steady investor response, reaching a 34% subscription rate by the second day of bidding. As of 12:30 IST, the issue had received bids for 1.35 Cr shares against a total offer size of 3.97 Cr shares.

Qualified institutional buyers (QIBs) continued to be the primary drivers of the IPO, subscribing 81% of their allocated portion by bidding for 91.73 Lakh shares against 1.13 Cr shares reserved for them. The non-institutional investor (NII) segment was subscribed 23%, with bids for nearly 20 Lakh shares against 85.36 Lakh shares available. Retail individual investors showed a marginal improvement in interest, with their portion seeing a 13% subscription, based on bids for 25.14 Lakh shares against 1.99 Cr shares on offer.

This follows a 24% subscription rate observed on the first day of bidding. Kissht had previously raised ₹277.78 Cr from anchor investors. The current IPO comprises a fresh issue of shares worth up to ₹850 Cr and an offer-for-sale component of up to 44.4 Lakh shares. The company has set a price band of ₹162-171 per share, which at the upper end, values the company at approximately ₹2,881 Cr ($294.3 Mn).

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht operates as a lending tech platform providing digital personal and business loans up to ₹5 Lakh, alongside health insurance products and loans against property. As of December 2025, the company reported 1.12 Cr registered customers and an Assets Under Management (AUM) exceeding ₹5,956 Cr. The company’s revenue streams include interest on loans, processing fees, late payment and foreclosure charges, and commissions from insurance product distribution.

For the first nine months of FY26, Kissht reported a profit of ₹199.3 Cr on a revenue of ₹1,569.9 Cr. In the full FY25, its profit after tax (PAT) declined by approximately 18% to ₹160.6 Cr, down from ₹197.3 Cr in FY24. Operating revenue also saw a decrease of over 20% to ₹1,337.5 Cr in FY25, compared to ₹1,674.5 Cr in FY24.