NEW DELHI, Apr 27: OnEMI Technology Solutions, which operates the digital lending platform Kissht, on Monday fixed a price band of Rs 162–171 per share for its Rs 926-crore initial public offering (IPO), which will open for subscription on April 30.
At the upper end of the price band, the company is valued at nearly Rs 2,900 crore.
The three-day issue will close on May 5, while anchor investor bidding is scheduled for April 29, the company said.
The IPO comprises a fresh issue of equity shares worth Rs 850 crore and an offer-for-sale (OFS) of 44,39,788 shares valued at around Rs 76 crore at the upper price band by existing shareholders, taking the total issue size to Rs 926 crore.
The selling shareholders include Ammar Sdn Bhd Investor, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund Pte Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund, and VenturEast SEDCO Proactive Fund LLC.
Proceeds from the fresh issue will be used to strengthen the capital base of its subsidiary Si Creva to meet future funding requirements, along with general corporate purposes.
Founded in 2016, Kissht offers digital credit solutions focused on young consumers in the mass market segment. As of March 31, 2025, it had 53.23 million registered users and served 9.16 million customers.
The company reported revenue of Rs 1,337 crore and profit after tax of Rs 161 crore in FY25. Its assets under management stood at Rs 4,087 crore, with over 1.90 million active customers.
The lot size has been fixed at 87 equity shares, requiring a minimum investment of Rs 14,877 for retail investors at the upper price band.
About 50% of the issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).
The shares are proposed to be listed on the BSE and NSE, with listing expected on May 8.
JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers, while KFin Technologies is the registrar. (Agency)
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