Kissht’s parent OnEMI Technology Solutions is set to list after an IPO that was oversubscribed 9.5X. Early investors booked gains through offloading shares via OFS. Ammar Sdn Bhd made ₹19.8 Cr, Vertex Ventures sold shares worth ₹29.2 Cr, while Ventureast reported three funds delivering up to 10.9X returns. The valuation at the upper price band nears ₹2,881 Cr.
OnEMI Technology Solutions’ lending arm Kissht is preparing an IPO to raise ₹850 crore, driven by rising AUM and customer growth. But the pitch has a catch: elevated NPAs and dependence on unsecured personal loans add credit risk. Analysts suggest long-term investors may prefer clarity on post-listing financial stability before betting.
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Ahead of its IPO, Kissht’s parent OnEMI Technology Solutions saw cofounders Ranvir Singh and Krishnan Vishwanathan purchase shares worth over ₹400 crore via secondary transactions from existing investors. The deals on March 4 lifted their stakes and were likely behind the OFS component being cut in half, while the IPO’s fresh issue also reduced.
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