Temasek-backed consumer lender Kissht IPO is hitting the markets, filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise funds via an initial public offering (IPO). The company was co-founded by Ranvir Singh and Krishnan Vishwanathan, who continue to lead its growth strategy.

The companym formally Onemi Technology Solutions, which operates the Kissht brand, says the proceeds will be used to strengthen the capital base of its lending arm, Si Creva Capital Services, a middle-layer NBFC.

Kissht IPO: Offer structure

As per the DRHP filed on August 18, the IPO comprises a fresh equity issue of ₹1,000 crore and an offer-for-sale (OFS) of 88.8 lakh shares by existing investors. The fresh infusion is earmarked to reinforce Si Creva’s balance sheet and support lending operations.

Alongside the main offer, the company may pursue a pre-IPO placement of up to ₹200 crore. If completed, the size of the fresh issue will be reduced by the amount raised in this pre-IPO round.

Shareholding and selling shareholders

Promoters currently hold 53.67% in Onemi Technology Solutions; co-founders Ranvir Singh and Krishnan Vishwanathan together account for 30.89%. The remaining 46.33% is owned by institutional investors including Temasek (via Vertex), Sistema PJSFC, Endiya Trust, VenturEast and AION Advisory Services. These investors are part of the selling shareholder group in the OFS.

Business snapshot

Kissht, best known for its mobile-first lending platform, extends quick personal loans and consumer credit to individuals across India. Through the IPO and a potential pre-IPO placement, the company aims to fortify the capital of its NBFC subsidiary, positioning itself to expand more sustainably in the fast-growing consumer finance market.

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