The digital lending platform Kisssht, operated by Onemi Technology Solutions, has submitted its concept Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) to raise up to £ 1,000 crore through a new issue of shares. The IPO will also include an offer-for-sell (OFS) of 8.88 million stock shares by early investors, including Vertex Ventures, Ventureast, Endiya Seed, Aion Advisory, and Ammar SDN BHD. Vertex Ventures plans to sell 39.4 Lakh shares. The first time in April that Kissht Icici Securities, UBS Securities India and Motilal Owal hired for his initial public presentation process and were planning to launch a bursary trading. Some of the proceeds of the new edition will be administered £ 750 crore in Kisssht’s NBFC subsidiary, SI Creva, with the remaining £ 250 crore earmarked for general corporate purposes. The company is also considering a pre-IPO placement of up to £ 200 crore, which will reduce the size of the public offer. Rapid Growth Kisssht, founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, offers consumer loans with small tickets and has grown rapidly through merchant partnerships in electronics, fashion, travel and other categories. From March 2025, it had a registered user base of 53.2 million, served over 9 million customers and had 1.9 million active borrowers. The company reported an operating income of £ 1.337 crore in FY25 and a net profit of £ 160 crore, reflecting a 18% year to year decline. The IPO is managed byicici Securities, UBS Securities India, Motilal Owal, JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital and Centrum Capital, with KFIN Technologies acting as registrar. Kisssht is one of the first digital lending businesses that its DRHP has submitted, indicating the growing interest in India’s Fintech space. India’s digital lending market, worth around £ 1.2 trillion in 2022, is expected to grow to more than £ 28 trillion by 2025, driven by the growing demand for small tickets and increased financial digitization, according to a report by International Journal of Research Publication and Reviews (IJRPR). However, the sector faces challenges. From March 2025, loans with more than 90 days chased up to 3.6% – the highest in six quarters – according to the FinTech Association for Consumer Empowerment (Face). Offenses are higher among younger borrowers and in tiger-3 cities and rural areas.
Kisssht files drhp for £ 1,000 crore IPO, early investors to go out partially
