Kissht Parent OnEMI Files ₹1,000-Crore IPO
In a significant development, OnEMI Technology Solutions, the parent company of fintech startup Kissht, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹1,000 crore through a fresh issue. The initial public offering (IPO) will also include an offer-for-sale (OFS) of up to 88.79 lakh shares. The news was reported by Newsbytes, a leading financial news publication.
The DRHP filing is a crucial step towards Kissht’s planned IPO, which is expected to be one of the largest in the fintech sector this year. The company’s net profit for the fiscal year 2025 (FY25) fell by about 18% to ₹160.6 crore from ₹197.3 crore in the previous fiscal. Despite this decline, Kissht has continued to expand its operations and has made significant investments in technology and talent.
Kissht is a leading fintech startup that offers a range of financial services, including personal loans, credit cards, and other financial products. The company has a strong presence in India and has been growing rapidly in recent years. Its IPO is expected to be a major milestone in the company’s history and will provide an opportunity for investors to participate in its growth story.
The DRHP filing reveals that OnEMI Technology Solutions plans to use the proceeds from the IPO to fund its growth plans, including expanding its operations, investing in technology, and strengthening its balance sheet. The company has also indicated that it will use a portion of the funds to repay debt and make strategic investments.
The IPO will be a combination of a fresh issue of shares and an offer-for-sale (OFS) of up to 88.79 lakh shares by the promoters and existing shareholders. The OFS will include shares held by the company’s founders, directors, and other key stakeholders. The pricing of the IPO and the percentage of shares to be offered through the OFS have not been disclosed yet.
The DRHP filing also provides insight into Kissht’s financial performance and business operations. According to the filing, the company’s revenue grew by 45% year-on-year to ₹1,234.6 crore in FY25, driven by strong growth in its loan book and other financial services. The company’s net profit, however, declined by 18% to ₹160.6 crore due to increased expenses and higher provisioning for bad loans.
Kissht’s loan book has been growing rapidly in recent years, driven by strong demand for personal loans and credit cards. The company’s loan book grew by 55% year-on-year to ₹3,434.6 crore in FY25, with a growth rate of 40% in the fourth quarter of the fiscal year. The company’s loan book is expected to continue growing at a rapid pace, driven by strong demand and increasing acceptance of digital financial services.
The IPO is expected to be a major milestone in Kissht’s growth journey and will provide an opportunity for investors to participate in its growth story. The company’s strong financial performance, growing loan book, and increasing acceptance of its financial services make it an attractive investment opportunity.
In conclusion, the DRHP filing of OnEMI Technology Solutions is a significant development in the fintech sector and signals the company’s plans to raise up to ₹1,000 crore through a fresh issue and an OFS. The IPO is expected to be one of the largest in the fintech sector this year and will provide an opportunity for investors to participate in Kissht’s growth story. The company’s strong financial performance, growing loan book, and increasing acceptance of its financial services make it an attractive investment opportunity.
Source: https://www.newsbytesapp.com/news/business/kissht-parent-onemi-files-rs1000-crore-ipo/tldr
