OnEMI Technology Solutions (Kissht Parent) Lists at 12% Premium
Infographic: Kissht’s Parent OnEMI Technology Solutions Lists at 12% Premium
Key Highlights
OnEMI Technology Solutions, parent of lending tech startup Kissht, debuts on stock exchanges at a 12% premium, signaling strong investor confidence in the fintech sector.
Kissht’s Parent Company Makes Strong Stock Market Debut
OnEMI Technology Solutions, the parent entity of the prominent lending tech startup Kissht, has successfully commenced its journey on the stock exchanges with a robust debut. The company’s shares began trading at ₹191 on the , representing an 11.7% increase over its issue price of ₹171. On the , the listing was equally impressive, with shares opening at ₹190, marking an 11.1% premium. This strong market reception underscores investor confidence in Kissht’s business model and its position within the burgeoning fintech sector.
Significant Market Performance and Valuation
Following the initial listing, the momentum for OnEMI Technology Solutions’ stock continued. By 10:05 IST, the shares had climbed further to trade at ₹196.20 on the BSE, pushing the gain to nearly 15% above the issue price. At this point, the company’s market capitalization was estimated to be around ₹3,300 crore, equivalent to approximately $349 million. This valuation reflects the market’s positive assessment of the company’s growth prospects and financial health.
Details of the Initial Public Offering
The Initial Public Offering (IPO) for Kissht’s parent company was structured with a price band set between ₹162 and ₹171 per share. The offering comprised a fresh issue of ₹850 crore and an offer-for-sale () component that allowed existing shareholders to divest up to 44.4 lakh shares, valued at approximately ₹75.9 crore. The IPO garnered substantial investor interest, achieving an oversubscription of 9.5 times, indicating strong demand for the shares.
Investor Participation and Share Divestments
Several key investors participated in the offer-for-sale, capitalizing on the IPO to realize returns. Ammar Sdn Bhd, identified as one of Kissht’s major shareholders, divested 11.56 lakh shares through the OFS at the upper end of the price band, netting ₹19.8 crore. Other notable selling investors included Vertex Venture and Venturest, venture capital firms that offloaded shares held across various investment funds. AION Advisory Services and Endiya Partners were also among the entities that sold shares via the OFS mechanism.
Anchor Investor Performance and Funding
Prior to the public offering, OnEMI Technology Solutions successfully raised ₹277.8 crore from a group of anchor investors. This list included prominent financial institutions such as HDFC Mutual Fund, ICICI Prudential, Whiteoak Capital, Bandhan Bank, Goldman Sachs, New York State Teachers Retirement System, BNP Paribas, and Citigroup. The significant backing from these anchor investors provided a strong foundation and validation for the IPO.
Kissht’s Business Model and Financial Performance
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht operates as a digital lending platform. It specializes in providing personal and business loans up to ₹5 lakh with a streamlined, minimal documentation process. The company also extends its offerings to include health-related insurance products and secured loans, such as loans against property. For the first three quarters of the fiscal year 2026, Kissht reported a profit after tax () of ₹199.3 crore on operating revenue of ₹1,569.9 crore. Including other income of ₹24 crore, the total revenue for the nine-month period reached ₹1,594 crore. The company’s revenue streams are diversified, encompassing interest income, fees and commissions, and earnings from the solicitation of insurance products. In the fiscal year 2025, Kissht’s profit saw a decline of approximately 18%, falling to ₹160.6 crore from ₹197.3 crore in the preceding fiscal year.
Industry Context and Future Outlook
With the successful listing of OnEMI Technology Solutions, the company becomes the sixth new-age tech firm to go public in 2026. This trend highlights the growing investor appetite for innovative technology-driven businesses, particularly in the financial services sector. Kissht’s performance in the public market will be closely watched as an indicator of the broader sentiment towards Indian fintech startups and their potential for sustained growth and profitability in a competitive landscape.