Kissht Secures SEBI Approval for Upcoming IPO

Lending tech startup Kissht has made significant strides by receiving regulatory clearance from the Securities and Exchange Board of India (SEBI), allowing the company to move forward with its initial public offering (IPO). This crucial approval marks a pivotal step towards the company’s plans for a public listing.

SEBI’s Observations and Approval Process

On January 8, SEBI provided its observations regarding Kissht’s draft documents submitted by its parent entity, OnEMI Technology Solutions Ltd. This official nod signifies regulatory approval, paving the way for the launch of the eagerly anticipated public offering.

Draft Red Herring Prospectus Highlights

Kissht submitted its draft red herring prospectus (DRHP) in August 2025, aiming to raise up to ₹1,000 crore through a fresh issue of shares. This move signifies the company’s intent to bolster its capital structure and expand its services in the competitive digital lending landscape.

Offer for Sale Inclusions

The upcoming IPO will also feature an offer for sale of approximately 8,879,575 equity shares from existing stakeholders. Notable selling shareholders include Vertex Ventures, Ventureast Proactive Fund, and Endiya Seed Co-creation Fund, among others, highlighting strong investment backing.

Post-IPO Plans: Pre-IPO Placement

Kissht has indicated that it may opt for a pre-IPO placement, potentially reducing the size of the new issue accordingly. This strategic move could enhance investor confidence and attract additional funding prior to the public offering.

Business Model and Growth Metrics

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht operates a robust digital lending platform focusing on unsecured personal loans of up to ₹5 lakh. The company’s technology-driven underwriting process, coupled with its hybrid operating model, positions it well within the fintech sector. As of the latest report, Kissht has 62 physical branches spread across six states and one Union Territory, primarily catering to its home loan segment.

Financial Performance Overview

As per the latest financial data, Kissht registered a user base of 53.23 million, with 9.16 million customers, of which 1.9 million are considered active. The company reported a decline in profitability for the fiscal year ending March 31, 2025, with net profit falling by 18.6% to ₹160.62 crore compared to ₹197.29 crore in the previous fiscal year.

Upcoming IPO Management Team

The proposed public issue will be managed by a consortium of financial institutions, including JM Financial, HSBC Securities and Capital Markets (India), and Nuvama Wealth Management as joint book-running managers. KFin Technologies Limited has been appointed as the issue registrar, ensuring a streamlined process for investors interested in participating in Kissht’s IPO.