Kissht cuts IPO size, bids to open April 30
27 Apr 2026, 11:30 AMKissht has cut the fresh issue component from Rs 1,000 crore to Rs 850 crore, while OFS portion has also been reduced from 8.8 million shares to 4.4 million shares.
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Digital lending startup Kissht, which is operated by OnEMI Technology Solutions, has cut the size of its initial public offering (IPO) that will open on April 30, as per its Red Herring Prospectus submitted with the Securities and Exchange Board of India (SEBI).
Kissht has cut the fresh issue component from Rs 1,000 crore to Rs 850 crore, while the offer-for-sale (OFS) portion has also been reduced from 8.8 million shares to 4.4 million shares, now worth approximately Rs 76 crore.
Vertex Ventures will be the biggest seller in the OFS, joined by Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.
Earlier this year, another NBFC Aye Finance also reduced the size of its IPO that later on went to get a lukewarm response. Other new age firms including logistics platform Shadowfax, analytics company Fractal and payments company Pine Labs also cut their IPO size in recent months while fintech firm PhonePe has delayed its IPO citing volatile geopolitical conditions.
Kissht's subscription window for the IPO runs through May 5. It will be open for anchor investors a day prior on April 29.
The company has pegged its share price between Rs 162 and Rs 171, placing its post-issue market valuation at roughly Rs 3,062 crore at the top end.
The bulk of the fresh capital raised via the IPO will flow into its subsidiary Si Creva. It will also use the capital to fuel expansion, with the rest earmarked for general business needs.
Co-founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht focuses on small-ticket consumer lending through merchant tie-ups spanning electronics, fashion, travel, and beyond. Singh and Vishwanathan hold 18.78% and 13.52% stakes respectively, while Vertex Ventures remains the largest outside investor at 22.68%.
On the financial front, the company reported Rs 1,560 crore in operating revenue and Rs 199 crore in net profit for the nine months ending December 2025. For the full year FY25, it clocked Rs 1,337 crore in revenue with a Rs 160 crore profit.
JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital, and Centrum Capital are managing the offering, with KFin Technologies handling registrar duties.
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