OnEMI Technology Solutions Ltd, which operates digital lending platform Kissht, on Monday fixed a price band of ₹162-171 per share for its ₹926-crore that will open for subscription on April 30.
At the upper end of the price band, the company is valued at nearly ₹2,900 crore.
The three-day issue will close on May 5, while anchor investor bidding is scheduled for April 29, the company announced.
The IPO comprises a fresh issue of equity shares aggregating to ₹850 crore and an offer-for-sale (OFS) of 44,39,788 equity shares worth ₹76 crore at the upper end by existing shareholders. This takes the total issue size to ₹926 crore.
The selling shareholders include Ammar Sdn Bhd Investor, Vertex Ventures SEA Fund III Pte. Ltd., Vertex Growth Fund Pte. Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund, and VenturEast SEDCO Proactive Fund LLC.
Proceeds from the fresh issue will be used to augment the capital base of its subsidiary, Si Creva, to meet future funding requirements, along with general corporate purposes.
Founded in 2016, Kissht provides digital credit solutions focused on young consumers in the mass market segment. As of March 31, 2025, the platform had 53.23 million registered users and had served 9.16 million customers.
The company reported revenue from operations of ₹1,337 crore and profit after tax of ₹161 crore in FY25, while its assets under management stood at ₹4,087 crore, with over 1.90 million active customers.
The lot size has been fixed at 87 equity shares, with a minimum investment of ₹14,877 for retail investors at the upper price band.
About 50 per cent of the issue is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors (NIIs).
The shares are proposed to be listed on the BSE and NSE, with listing expected on May 8.
JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers to the issue, while KFin Technologies Ltd is the registrar.