Synopsis
Digital lending platform Kissht is preparing for its initial public offering. The IPO is scheduled to launch on April 30. Kissht aims to raise Rs 926 crore through this offering. The company has set a price band of Rs 162 to Rs 171 per share.Listen to this article in summarized format
The IPO price band has been fixed at Rs 162-171 per share, as per a public advertisement. The issue consists of a fresh issue worth Rs 850 crore along with an offer for sale (OFS) of 4.4 million shares, which is expected to rake in around Rs 76 crore.
The revised structure marks a reduction from what the company had initially proposed. Earlier, Kissht had planned to raise Rs 1,000 crore through a fresh issue and sell 8.8 million shares via the OFS component.
Per the advertisement, the anchor investor portion will open on April 29, a day before the IPO launches for public subscription on April 30. The issue will remain open until May 5.
Kissht has stated that a significant portion of the funds raised, that is around Rs 637.5 crore, will be invested in its in-house non-banking financial company, Si Creva. The remaining proceeds will be used for general corporate purposes.
The book running managers for the IPO include JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited, and Centrum Broking Limited.
Some of the existing investors selling shares through the OFS include Vertex Ventures, Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.
Founded in 2015 by former McKinsey executives Ranvir Singh and Krishnan Vishwanathan, Kissht began as a tech-driven consumer lending platform focused on checkout finance. It now offers instant personal loans both through its own balance sheet and in partnership with around 38 lenders.
The company said that it has crossed 63 million registered users as of December 31, 2025 and served over 11 million users.
In terms of financial performance, Kissht reported operating revenue of Rs 1,337 crore for FY25, which is 20% lower than the Rs 1,674 crore it reported in FY24. Profit also declined by 19%, falling to Rs 160 crore from Rs 197 crore the previous year.
This company's competitor, KreditBee, entered the unicorn club earlier this month. KreditBee reached a valuation of $1.5 billion after raising $280 million in a funding round led by Hornbill Capital, Dragon Funds, and Motilal Oswal Alternates.
