Kissht IPO: Digital lending platform Kissht, operated by OnEMI Technology Solutions, closed its public issue with strong demand, led mainly by institutional investors.

The IPO was subscribed over 9 times by the end of the final day of bidding. The Qualified Institutional Buyers portion saw the strongest response at 24.9 times, while the Non-Institutional Investors category was subscribed 2.8 times. Retail participation remained comparatively lower at 1.83 times.

Kissht’s IPO was open from April 30 to May 5, with a price band of Rs 153 to Rs 162 per share. Investors could bid for a minimum lot of 87 shares, requiring an investment of Rs 14,094.

The company’s Rs 926 crore issue included a fresh issue of Rs 850 crore and an offer for sale of around 4.4 million shares, valued at nearly Rs 76 crore. Vertex Ventures led the OFS with 2.3 million shares, joined by Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-Investment and AION Advisory.

Ahead of the IPO, Kissht raised Rs 278 crore from 22 anchor investors. The anchor book included domestic mutual funds and global investors such as HDFC Mutual Fund, ICICI Prudential Mutual Fund, WhiteOak Capital, Goldman Sachs and BNP Paribas.

Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht offers small-ticket consumer credit and has grown through partnerships with merchants across electronics, fashion and other categories.

The company reported operating revenue of Rs 1,560 crore and net profit of Rs 199 crore for the nine months ended December 2025. In FY25, it posted operating revenue of Rs 1,337 crore and net profit of Rs 160 crore.

The final subscription numbers show a clear split in investor appetite.

Institutions backed the issue aggressively, while retail investors remained more measured. For Kissht, the IPO response marks an important public-market test for a lending-tech business built around small-ticket credit and merchant partnerships.

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