Digital lender Kissht plans $225 million IPO; appoints investment banks

06 Apr 2025, 05:48 PM

The company has mandated ICICI Securities, UBS Securities India Private Limited and Motilal Oswal Investment Banking as lead managers for the IPO.

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Digital lending platform Kissht has reportedly appointed investment bankers as it prepares for its initial public offering (IPO).

The company has mandated ICICI Securities, UBS Securities India Private Limited and Motilal Oswal Investment Banking as lead managers for the IPO, reported Mint. It is also finalising a fourth banker. 

"Kissht is likely to file pre-IPO documents with the regulator by June, planning to raise $225 million ( Rs 1,926 crore)," the media daily quoted a source as saying.

The public offering will comprise both primary and secondary components, with approximately 75% of the proceeds to be used for primary capital to fund expansion and strengthen its new secured lending vertical. 

The fintech is reportedly targeting a valuation in the range of $900 million to $1.1 billion (~Rs 9,400 crore), an increase from its $344 million valuation in 2022, when it last raised $80 million from Vertex Growth and Brunei Investment Agency.

Founded by Ranvir Singh and Krishnan Vishwanathan in 2015, Kissht operates in unsecured consumer lending segment, comprising three verticals -- consumption loans, purchase financing (including e-commerce platforms Amazon and Flipkart), and MSME and business-owner loans.

The first and third segments together account for almost 85% of the business, while purchase financing contributes about 15%, Mint reported. 

Kissht also plans a pre-IPO private funding round after it files the draft red herring prospectus.