The IPO of OnEMI Technology Solutions, the parent of digital lending platform Kissht, opened for public subscription today at a price band of ₹162–171 per share. Before the issue opened, two things had already happened: its own cofounders bought shares from existing investors at a price above the offer, and a group of 22 anchor investors committed ₹278 crore at the upper band.
According to the company’s RHP, CEO Ranvir Singh acquired approximately 17.7 lakh shares for around ₹35.5 crore on March 4, purchasing from cofounder Abhijit Bhandari and AION Advisory Services. CFO Krishnan Vishwanathan picked up around 2.6 lakh shares for ₹5.3 crore from Vertex Ventures SEA Fund III and VenturEast SEDCO Proactive Fund. Both transactions were at ₹201 per share — roughly 18% above the IPO’s upper band of ₹171.
Bhandari, who is no longer in an executive role at the company, now holds a 1.22% stake, down from 1.8% at the DRHP stage. Following the purchases, Singh’s stake rose to 18.8% and Vishwanathan’s to 13.5%. The secondary transactions are also likely behind the IPO’s OFS component being halved — from 88.8 lakh shares in the DRHP to 44.4 lakh shares in the final RHP — and the fresh issue being trimmed from ₹1,000 crore to ₹850 crore.
On April 29, a day before the IPO opened, Kissht allotted 1.62 crore equity shares to 22 anchor investors at ₹171 per share, raising ₹277.77 crore. Domestic mutual funds took 57% of the allocation — ₹158.32 crore across 13 schemes from seven fund houses, including HDFC MF, ICICI Prudential, WhiteOak Capital, Bandhan MF, Quant MF, Tata MF, and Sundaram MF. Global institutions Goldman Sachs, Citigroup, and BNP Paribas also participated.
The total issue size is ₹925.92 crore, comprising a fresh issue of ₹850 crore and an OFS of around ₹76 crore. Existing investors Vertex Ventures, Ammar Sdn Bhd, Endiya Seed Co-creation Fund, and AION Advisory are partially offloading stakes via the OFS. The IPO is managed by JM Financial, HSBC Securities, Nuvama Wealth Management, SBI Capital Markets, and Centrum Capital, with KFin Technologies as registrar.
Founded in 2015, Kissht offers personal and small business loans of up to ₹5 lakh through its mobile platform, alongside a payments app called Ring. For the nine months ended December 2025, the company reported operating revenue of ₹1,560 crore and a net profit of ₹199 crore. The IPO closes May 5. Allotment is expected on May 6, with listing on BSE and NSE on May 8.
