Kissht IPO: Subscription Hits 34% on Day 2, QIBs Lead
Infographic: Kissht IPO: Subscription Reaches 34% on Day 2 Amidst Investor Interest
Key Highlights
Kissht’s parent company, OnEMI Technology Solutions, sees its IPO subscribed 34% on day 2, with strong interest from Qualified Institutional Buyers (QIBs).
Kissht Garners Steady Investor Response on Day 2
The public issue of OnEMI Technology Solutions, the parent company of the lending tech firm Kissht, has experienced a consistent investor response, reaching a 34% subscription rate by midday on the second day of bidding. The issue has attracted bids for 1.35 crore shares against a total offer size of 3.97 crore shares, demonstrating ongoing market engagement with the company’s initial public offering.
QIBs Lead Amidst Mixed Investor Interest
Mirroring the trends from the first day, (QIBs) have shown the most significant interest in the Kissht IPO. They have placed bids for 91.73 lakh shares against the 1.13 crore shares reserved for them, achieving an 81% subscription of their allocated quota. This strong participation from institutional investors highlights confidence in the company’s long-term prospects. In contrast, the portion reserved for Non-Institutional Investors (NIIs) was subscribed 23%, with nearly 20 lakh shares bid for against an offer of 85.36 lakh shares. The interest from Individual Investors (RIIs) showed a marginal improvement compared to the first day, with 25.14 lakh shares subscribed against 1.99 crore shares on offer, resulting in a 13% subscription for this category.
IPO Details and Fundraising Objectives
The company’s public offering had previously seen a 24% subscription on the first day of bidding. Prior to the public issue opening, Kissht successfully raised ₹277.78 crore from anchor investors. The IPO comprises a fresh issue of shares worth up to ₹850 crore, alongside an offer-for-sale component of up to 44.4 lakh shares. The price band for the public issue has been set at ₹162-171 per share. At the upper end of this price band, the IPO is expected to value the company at approximately ₹2,881 crore, equivalent to about $294.3 million, reflecting the market’s valuation of the lending tech platform.
Kissht’s Business Model and Market Position
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht operates as a prominent lending technology platform. It specializes in providing digital personal and business loans, with individual loan amounts extending up to ₹5 lakh. Beyond core lending, the company also offers health-related insurance products and secured loans through its ‘loans against property’ facility. As of December 2025, Kissht had amassed a substantial customer base of 1.12 crore registered users, with its (AUM) exceeding ₹5,956 crore. The company generates revenue through a diversified stream, including interest charged on loans, processing fees, late payment and foreclosure charges, and commissions from the distribution of insurance products.
Financial Performance and Market Outlook
In the first nine months of the fiscal year 2026, Kissht reported a profit of ₹199.3 crore on a revenue of ₹1,569.9 crore. This performance indicates robust growth in the current fiscal period. However, in the fiscal year 2025, the company’s (PAT) saw a decline of approximately 18%, falling to ₹160.6 crore from ₹197.3 crore in FY24. Operating revenue also experienced a decrease of over 20%, dropping to ₹1,337.5 crore from ₹1,674.5 crore in the previous fiscal year. The upcoming performance and market reception of the IPO will be crucial indicators of investor sentiment towards the fintech lending sector and Kissht’s strategic positioning within it.