The initial public offering (IPO) of Kissht’s parent company, OnEMI Technology Solutions, has gained significant traction, with the issue being subscribed 60% by the end of the second day. According to BSE data, the IPO received bids for 2.38 crore shares against the 3.97 crore shares on offer. This development highlights the growing investor interest in India’s fintech sector, particularly among institutional investors.
## Kissht: A Closer Look
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht is a lending tech platform that provides digital personal and business loans. The company also offers health-related insurance products and secured loans through loans against property. As of December 2025, Kissht had 1.12 crore registered customers and assets under management (AUM) exceeding ₹5,956 crore.
The company’s revenue model includes interest on loans, processing fees, and commissions from distributing insurance products. Despite a decline in profit after tax (PAT) by about 18% in FY25, Kissht reported a profit of ₹199.3 crore on a revenue of ₹1,569.9 crore for the first nine months of FY26.
## Market Context and Competition
The subscription data reveals that qualified institutional buyers (QIBs) are particularly interested, with their portion being oversubscribed by 1.45 times. This suggests a strong confidence in Kissht’s business model and growth prospects. Non-institutional investors (NIIs) subscribed to 50% of their reserved portion, while retail investors showed less enthusiasm with only 16% subscription.
Kissht’s IPO comes at a time when the Indian fintech sector is witnessing robust growth. The company is positioning itself amid strong competition from other lending platforms and fintech startups. With a price band set at ₹162-171, the IPO values Kissht at approximately ₹2,881 crore, indicating its ambitious growth plans.
## Implications for India’s Startup Ecosystem
The Kissht IPO reflects the broader trends in India’s startup ecosystem where fintech continues to attract significant investor interest. The oversubscription by QIBs underscores the sector’s potential and the increasing trust in digital lending platforms. This IPO could pave the way for other fintech companies considering public listings, signaling a maturing market.
As the IPO progresses, founders and investors in the fintech space should closely monitor the final subscription levels and post-listing performance. These indicators will provide insights into market sentiment and potential valuation benchmarks for future public offerings.
