The IPO of Kissht parent OnEMI Technology Solutions was oversubscribed on its third day, May 5, as the digital lender moved towards a stock-market listing expected on May 8. The company is looking to raise Rs 850 crore through a fresh issue of shares, while existing investors will offer 4.44 million shares for sale.
The price band has been fixed at Rs 162-171 per share, valuing OnEMI at Rs 2,881 crore. Several early investors are partially exiting through the offer for sale, including Vertex Ventures, Endiya Seed Co-Creation Fund and Ventureast. Together, the selling group will offload shares worth Rs 75.9 crore. OnEMI plans to use Rs 637.5 crore of the IPO proceeds to strengthen the capital base of Si Creva, its wholly owned subsidiary, while the rest will be marked for general corporate purposes. Si Creva operates the company's lending platforms, Kissht and Ring.
Kissht offers instant, paperless credit through its mobile app, including personal loans, credit lines and loans against property. It provides loans of up to Rs 5 lakh, targeting underserved and emerging borrowers.
Kissht offers instant, paperless credit through its mobile app, including personal loans, credit lines and loans against property. It provides loans of up to Rs 5 lakh, targeting underserved and emerging borrowers.
Company history: Ranvir Singh and Krishnan Vishwanathan, both former McKinsey consultants with finance backgrounds, founded the company in Mumbai in 2015. Singh is an IIT Bombay alumnus and holds an MBA from IIM Bengaluru, while Vishwanathan graduated from IIT Delhi and has an MBA from the Yale School of Management.
The company had raised $133 million across various private funding rounds. In 2025, Sachin Tendulkar reportedly picked up a 0.4% stake in Kissht through a Rs 12-crore investment in compulsorily convertible preference shares. He became the platform's brand ambassador as part of the investment. Scale and financials: The IPO comes as OnEMI's lending book has continued to expand.
Si Creva's assets under management stood at Rs 2,523.7 crore as of March 2025, up 68.3% from Rs 1,499.2 crore a year earlier. For the nine months ended December 2025, its AUM rose further to Rs 3,099.4 crore. At the company level, OnEMI had more than 2.8 million active customers and Rs 5,955.7 crore in assets under management as of December 31, 2025. For the nine months ended December 2025, OnEMI reported revenue from operations of Rs 1,559.9 crore and a profit of Rs 199.2 crore. That is higher than its full-year FY25 performance, when revenue and profit were Rs 1,337.47 crore and Rs 160.62 crore, respectively. FY25 itself was a weaker year for the company. Revenue from operations fell 20% from Rs 1,674.4 crore in FY24, while profit declined 18.6% from Rs 197.2 crore. JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets and Centrum Broking are the book-running lead managers for the public issue.
The company had raised $133 million across various private funding rounds. In 2025, Sachin Tendulkar reportedly picked up a 0.4% stake in Kissht through a Rs 12-crore investment in compulsorily convertible preference shares. He became the platform's brand ambassador as part of the investment. Scale and financials: The IPO comes as OnEMI's lending book has continued to expand.
Si Creva's assets under management stood at Rs 2,523.7 crore as of March 2025, up 68.3% from Rs 1,499.2 crore a year earlier. For the nine months ended December 2025, its AUM rose further to Rs 3,099.4 crore. At the company level, OnEMI had more than 2.8 million active customers and Rs 5,955.7 crore in assets under management as of December 31, 2025. For the nine months ended December 2025, OnEMI reported revenue from operations of Rs 1,559.9 crore and a profit of Rs 199.2 crore. That is higher than its full-year FY25 performance, when revenue and profit were Rs 1,337.47 crore and Rs 160.62 crore, respectively. FY25 itself was a weaker year for the company. Revenue from operations fell 20% from Rs 1,674.4 crore in FY24, while profit declined 18.6% from Rs 197.2 crore. JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets and Centrum Broking are the book-running lead managers for the public issue.