OnEMI Technology Solutions Ltd, which operates the digital lending platform Kissht, announced on Wednesday that it has successfully raised ₹278 crore from anchor investors prior to its initial public offering (IPO).
The anchor book attracted both domestic mutual funds and global investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Ashoka India Equity Investment Trust, WhiteOak Capital, Bandhan Mutual Fund, Quant Mutual Fund, Goldman Sachs, BNP Paribas, and Citigroup, according to a circular posted on the Bombay Stock Exchange (BSE) website.
In the circular, it was noted that Kissht allocated 1.62 crore equity shares at ₹171 each, which is at the upper end of the established price band, bringing the total transaction size to approximately ₹277.77 crore. Domestic mutual funds comprised 57% of the anchor allocation, receiving shares worth ₹158.3 crore across 13 schemes from seven fund houses.
The total issue size of ₹926 crore is set to open for subscription on April 30 and will close on May 5. The price band for the shares is fixed at ₹162 to ₹171, valuing the company at nearly ₹2,900 crore at the upper price point.
The IPO will include a fresh issue of equity shares aggregating to ₹850 crore, alongside an offer-for-sale (OFS) of approximately 44,39,788 equity shares worth ₹76 crore at the upper band, provided by existing shareholders. The selling shareholders consist of Ammar Sdn Bhd Investor, Vertex Ventures SEA Fund III Pte. Ltd., Vertex Growth Fund Pte. Ltd., Vertex Growth Fund II Pte. Ltd., Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund, and VenturEast SEDCO Proactive Fund LLC.
Funds raised from the fresh issue will be utilized to strengthen the capital base of its subsidiary, Si Creva, to meet upcoming funding needs, along with general corporate purposes.
Founded in 2016, Kissht specializes in providing digital credit solutions aimed at young consumers in the mass market segment. As of March 31, 2025, the platform reported 53.23 million registered users and has served 9.16 million customers.
The lot size for the IPO has been set at 87 equity shares, requiring a minimum investment of ₹14,877 for retail investors at the upper price band. The allocation of shares is structured with 50% reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs).
Listing of the shares is proposed on both the BSE and NSE, with expectations set for May 8. JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are serving as the book-running lead managers for the issue, while KFin Technologies Ltd is designated as the registrar.
Published on April 29, 2026
