Kissht IPO opens April 30, aims to raise ₹930cr
What's the story
Digital lending platform Kissht has announced its initial public offering (IPO) on April 30. The company hopes to raise ₹926 crore through the share sale. The price band for the IPO has been set at ₹162-171 per share. At the upper end of this range, Kissht is looking at a post-money valuation of around ₹3,062 crore.
Financial details
Fresh issue and OFS component in IPO
The IPO will comprise a fresh issue of ₹850 crore and an offer for sale (OFS) of 4.4 million shares, which is expected to fetch around ₹76 crore. The company has revised its initial plan, which was to raise ₹1,000 crore through a fresh issue and sell 8.8 million shares via OFS. A major chunk of the funds raised, around ₹637.5 crore, will go into Kissht's in-house non-banking financial company Si Creva.
Management team
Who are the book running managers for the IPO?
The book running managers for the IPO are JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking. Among the existing investors selling shares through OFS are Vertex Ventures, Ammar Sdn Bhd, Ventureast Proactive Fund, Endiya Seed Co-creation Fund, and AION Advisory.
Company history
What does Kissht do?
Founded in 2015 by former McKinsey executives Ranvir Singh and Krishnan Vishwanathan, Kissht started as a tech-driven consumer lending platform for checkout finance. It now offers instant personal loans through its own balance sheet and partnerships with around 38 lenders. The company has over 63 million registered users as of December 31, 2025, and has served more than 11 million users.
Market position
The company's financials and competitor's recent funding round
Kissht reported an operating revenue of ₹1,337 crore for FY25, down 20% from the ₹1,674 crore it posted in FY24. Its profit also fell by 19%, dropping to ₹160 crore from ₹197 crore last year. The company's competitor KreditBee became a unicorn this month with a valuation of $1.5 billion after raising $280 million in a funding round led by Hornbill Capital, Dragon Funds, and Motilal Oswal Alternates.