India’s capital markets regulator, Securities and Exchange Board of India, has given its approval to the initial public offering (IPO) plans of digital lending platform Kissht, marking an important milestone for the country’s fintech ecosystem. The approval allows Kissht’s parent company, OnEMI Technology Solutions Ltd, to move ahead with its much-awaited public market debut in the coming months.
The regulatory clearance comes at a time when investor sentiment around technology-led businesses is slowly recovering, especially for firms with clearer paths to profitability and strong customer reach. Kissht’s IPO approval also signals SEBI’s growing comfort with mature fintech models that operate within regulatory frameworks.
Key Details of the Kissht IPO Structure
As per its draft filings, the Kissht IPO will consist of a fresh issue of shares worth up to ₹1,000 crore, along with an offer for sale (OFS) by existing shareholders. Through the fresh issue, the company aims to raise growth capital, while the OFS will allow early investors to partially monetise their holdings after nearly a decade of backing the business.
Several institutional investors are expected to participate in the OFS portion, reflecting confidence in the company’s long-term prospects. Kissht is also exploring the possibility of a pre-IPO placement. If such a round is completed, the size of the fresh issue could be adjusted accordingly.
How Kissht Plans to Use the IPO Proceeds
A significant portion of the funds raised through the fresh issue will be used to strengthen the capital base of Kissht’s NBFC arm, Si Creva Capital Services. This move is aimed at supporting loan book expansion while ensuring compliance with regulatory capital adequacy norms.
Beyond capital infusion into the NBFC subsidiary, the company intends to use the proceeds for general corporate purposes, technology upgrades, and long-term strategic initiatives. By reinforcing its balance sheet, Kissht plans to scale its lending operations responsibly while managing credit risk in a competitive market.
Kissht’s Journey and Business Model
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht has grown into a recognised name in India’s consumer lending space. The platform focuses on offering unsecured personal loans and small-ticket credit products to underserved and new-to-credit consumers.
Over the years, Kissht has built partnerships across multiple merchant categories, including electronics, lifestyle products, and essential services. These partnerships enable customers to access flexible digital credit solutions at the point of purchase, a model that has gained traction with India’s growing smartphone and internet user base.
As of the last reported period, Kissht had over 50 million registered users and close to 2 million active borrowers, indicating strong adoption across both metro and non-metro regions.
Financial Performance and Market Position
While the company has witnessed rapid user growth, its recent financial performance reflects the broader challenges faced by fintech lenders amid tighter regulations and a focus on asset quality. Kissht has been recalibrating its growth strategy to prioritise sustainable lending, better risk controls, and improved unit economics.
Industry observers view this disciplined approach as a positive sign ahead of a public listing, especially as public market investors place greater emphasis on governance, compliance, and long-term profitability.
What the SEBI Approval Means for Indian Fintech
SEBI’s clearance for the Kissht IPO comes during a phase of renewed IPO activity in India. Several companies across sectors have either received approvals or filed draft papers, pointing to a gradually improving listing environment.
For the fintech sector, Kissht’s IPO could act as a sentiment booster, encouraging other mature startups to explore public listings. If successful, the issue may also open the door for greater retail participation in India’s digital finance growth story.
With regulatory approval now secured, Kissht is expected to finalise its IPO timeline based on market conditions, bringing one of India’s prominent digital lenders closer to Dalal Street.