Mumbai-based OnEMI Technology Solutions that operates India’s digital lending platform (Kissht), a technology-enabled lender in India has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India ( SEBI) to raise funds through Initial Public Offering (IPO).
About OnEMI Technology Solutions IPO
The IPO, with a face value of Re 1, is a mix of fresh issue of shares up to Rs 1,000 crore and an offer for sale (OFS) up to 88,79,575 equity shares by Investors selling shareholders. The offer also includes a subscription reservation by eligible employees in the employee reservation portion.
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement, aggregating up to Rs 200 crore. The pre-IPO placement if completed, the fresh issue size will be reduced.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
The equity shares are proposed to be listed on BSE and NSE.
About the company
The company primarily offers digital loans through its mobile application for various consumption and business needs. Kissht commenced its operations in the year 2016, and provides swift, accessible and personalised credit solutions to support its customers throughout their financial journeys. It focuses on young individuals within the mass market segment, according to the 1Lattice Report, represents India’s emerging middle class and is aspirational, digitally connected and underpenetrated in credit access.
As of March 31, 2025, it had 5.32 crore registered users and served 91.6 lakh customers. It maintains over 19 lakh active customers and Rs 4,086.64 crore in assets under management (AUM) as of March 31, 2025.
OnEMI Technology Solutions IPO proceeds
The proceeds from its fresh issuance worth Rs 750 crore will be utilised for augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements arising out of latter’s growth and for general corporate purposes.
Selling shareholders
In the OFS, up to 20,89,584 equity shares will be offloaded by Ammar Sdn Bhd, up to 14,31,782 equity shares by Vertex Ventures SEA Fund III Pte. Ltd, up to 12,53,751 shares each by Vertex Growth Fund Pte. Ltd and Vertex Growth Fund II Pte. Ltd.
The other selling shareholders include 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.
OnEMI Technology Solutions financials
Kissht’s consolidated revenue from operations and profit after tax stood at Rs 1,337.46 crore and Rs 160.62 crore in fiscal 2025. Kissht AUM increased from Rs 1,267.92 crore as of March 31, 2023 to Rs 4,086.63 crore as of March 31, 2025, growing at a CAGR of 79.53%.
The PAT grew from Rs 27.66 crore to Rs 160.62 crore at a CAGR of 140.95% between fiscals 2023 and 2025.
OnEMI Technology Solutions IPO lead managers
JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited, and Centrum Capital Limited are the book-running lead managers and KFin Technologies Limited is the registrar of the offer.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
About OnEMI Technology Solutions IPO
The IPO, with a face value of Re 1, is a mix of fresh issue of shares up to Rs 1,000 crore and an offer for sale (OFS) up to 88,79,575 equity shares by Investors selling shareholders. The offer also includes a subscription reservation by eligible employees in the employee reservation portion.
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement, aggregating up to Rs 200 crore. The pre-IPO placement if completed, the fresh issue size will be reduced.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
The equity shares are proposed to be listed on BSE and NSE.
About the company
The company primarily offers digital loans through its mobile application for various consumption and business needs. Kissht commenced its operations in the year 2016, and provides swift, accessible and personalised credit solutions to support its customers throughout their financial journeys. It focuses on young individuals within the mass market segment, according to the 1Lattice Report, represents India’s emerging middle class and is aspirational, digitally connected and underpenetrated in credit access.
As of March 31, 2025, it had 5.32 crore registered users and served 91.6 lakh customers. It maintains over 19 lakh active customers and Rs 4,086.64 crore in assets under management (AUM) as of March 31, 2025.
OnEMI Technology Solutions IPO proceeds
The proceeds from its fresh issuance worth Rs 750 crore will be utilised for augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements arising out of latter’s growth and for general corporate purposes.
Selling shareholders
In the OFS, up to 20,89,584 equity shares will be offloaded by Ammar Sdn Bhd, up to 14,31,782 equity shares by Vertex Ventures SEA Fund III Pte. Ltd, up to 12,53,751 shares each by Vertex Growth Fund Pte. Ltd and Vertex Growth Fund II Pte. Ltd.
The other selling shareholders include 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.
OnEMI Technology Solutions financials
Kissht’s consolidated revenue from operations and profit after tax stood at Rs 1,337.46 crore and Rs 160.62 crore in fiscal 2025. Kissht AUM increased from Rs 1,267.92 crore as of March 31, 2023 to Rs 4,086.63 crore as of March 31, 2025, growing at a CAGR of 79.53%.
The PAT grew from Rs 27.66 crore to Rs 160.62 crore at a CAGR of 140.95% between fiscals 2023 and 2025.
OnEMI Technology Solutions IPO lead managers
JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited, and Centrum Capital Limited are the book-running lead managers and KFin Technologies Limited is the registrar of the offer.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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