OnEMI Technology IPO: Kissht operator files draft papers for ₹1,000 crore fresh issue, OFS of 89 lakh shares

OnEMI Technology Solutions, which operates credit platform Kissht, has filed draft papers with market regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering.

The proposed issue comprises a fresh issuance of shares worth up to ₹1,000 crore and an offer for sale (OFS) component of 8,879,575 shares, according to the draft red herring prospectus (DRHP) filed on August 18.

Under the OFS, Ammar Sdn Bhd, Vertex Growth Fund Pte Ltd, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund II Pte Ltd, Endiya Seed Co-creation Fund, Ventureast Proactive Fund II, VenturEast Proactive Fund LLC, VenturEast SEDCO Proactive Fund LLC, Ventureast Proactive Fund and AION Advisory Services LLP are offloading their stake.

The net proceeds will be used to augment the capital base of its subsidiary, Si Creva, to meet future capital needs and general corporate purposes.

JM Financial, Nuvama Wealth Management, HSBC Securities and Capital Markets (India) Pvt Ltd, SBI Capital Markets and Centrum Capital are the issue's book-running lead managers, while KFin Technologies serves as the registrar.

OnEMI Technology Solutions IPO: Financials

About Kissht

Kissht is a tech-enabled lender in India, offering digital loans via its mobile application for various consumption and business requirements. As of March 2025, it had 53.23 million registered users and served 9.16 million customers.

It maintains a high granular loan book with more than 1.9 million active customers and ₹4,086.63 crore in assets under management (AUM).

"In Fiscal 2025, our customers had an average age of 32 years and a median CIBIL score of 746. Further, during Fiscal 2025, 66.80% of our customers earned monthly incomes ranging between ₹25,000 and ₹75,000, and 64.97% of our customers resided in the top 50 cities in India," the company said.