Kissht IPO: Issue Subscribed 1.9X On Day 3 Till Now
Superadmin
Lending tech company Kissht’s parent OnEMI Technology Solutions’ IPO got fully subscribed on the final day of bidding. The public issue received bids for 7.35 Cr shares against 3.98 Cr shares on offer, translating to 1.85X subscription, as of 13:35 IST.
Qualified institutional buyers (QIBs) continued to lead the demand, bidding for 5.48 Cr shares as against 1.13 Cr shares reserved for them. Their portion was subscribed 4.85X.
Non-institutional investors (NIIs) followed suit, placing bids for 1.30 Cr shares against 85.36 Lakh shares earmarked for them. This translated to an oversubscription of 1.53X.
Meanwhile, retail investors continued to show a lukewarm response to the IPO. They bid for 56.45 Lakh shares against 1.99 Cr shares on offer, translating to a mere 28% subscription.
OnEMI’s IPO comprises a fresh issue of shares worth up to ₹850 Cr and an offer for sale of up to 44.4 Lakh shares. The company has set a price band of ₹162-171 for the public issue. At the upper end of the price band, the IPO values the company at about ₹2,881 Cr (about $294.3 Mn).
Kissht raised ₹277.8 Cr from anchor investors ahead of the IPO. Its cofounders Ranvir Singh and Krishnan Vishwanathan acquired shares worth over ₹40 Cr from existing investors via secondary transactions in March.
Founded in 2015, Kissht is a lending tech platform that offers digital personal and business loans of up to ₹5 Lakh. It also offers health-related insurance products and secured loans through loans against property.
On the financial front, Kissht reported a profit of ₹199.3 Cr on a revenue of ₹1,569.9 Cr in the first nine months of FY26. In FY25, its profit declined about 18% to ₹160.6 Cr from ₹197.3 Cr. Operating revenue fell over 20% to ₹1,337.5 Cr from ₹1,674.5 Cr in FY24.
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