IPO · Financial Services

Kissht parent lists with 22% first-day gain

What they do

OnEMI Technology Solutions, parent of lending app Kissht, listed on BSE and NSE on May 8, 2026

Shares closed at ₹208.4 on BSE, up 21.9% from the ₹171 issue price, giving a market cap of ₹3,511.2 Cr

The IPO was 9.5X oversubscribed, and the fresh proceeds will fund loan growth via its NBFC balance sheet

OnEMI Technology Solutions, the parent of lending platform Kissht, listed on BSE and NSE on May 8, 2026.
The stock opened at ₹191 on BSE and ₹190 on NSE, a premium of about 11% over the issue price of ₹171.
Shares closed the first day at ₹208.4 on BSE, up 21.9% from the issue price, and at ₹209.02 on NSE, up 22.2%.
The market capitalisation at close was ₹3,511.2 Cr (about $370.7 Mn).
The IPO was 9.5X oversubscribed, with bids for 37.76 Cr shares against 3.97 Cr on offer.
Qualified institutional buyers (QIBs) subscribed 24.87X, non-institutional investors 6.57X, and retail investors 2.03X.
The IPO comprised a fresh issue of ₹850 Cr and an offer for sale (OFS) of up to 44.4 Lakh shares worth ₹75.9 Cr.
Anchor investors put in ₹277.78 Cr across 22 funds, including HDFC Mutual Fund, Goldman Sachs, and Citigroup.

Kissht is the sixth new-age tech company to go public in 2026, even as peers like PhonePe delayed their listing plans.
Regulatory clarity from the RBI has made compliance a do-or-die test, favouring stronger players like Kissht.
The company deliberately chose not to disburse more loans to maintain profitability, a shift from aggressive growth.
Kissht is diversifying beyond unsecured lending into loans against property (LAP) and health insurance.

Kissht is a lending technology platform offering digital personal and business loans up to ₹5 Lakh.
It also provides health insurance products and secured loans through loans against property.
As of December 2025, it had 1.12 Cr registered customers and 2.87 Mn active users.
Assets under management (AUM) stood at ₹5,956 Cr in December 2025, up from ₹2,604 Cr in March 2024.
Revenue streams include interest income, fees and commissions, and marketing, commission and rewards from insurance solicitation.
Loans against property contribute about 5% to overall revenue.
In the nine months to December 2025, profit after tax was ₹199.3 Cr on operating revenue of ₹1,569.9 Cr.
In FY25, profit after tax was ₹160.6 Cr, down 18.6% from FY24, and operating revenue fell over 20% to ₹1,337.5 Cr.

The company plans to use the fresh issue proceeds to expand its assets under management (AUM) through its NBFC balance sheet.

HDFC Mutual Fund (anchor) — One of the anchor investors in the IPO.
ICICI Prudential (anchor) — One of the anchor investors in the IPO.
WhiteOak Capital (anchor) — One of the anchor investors in the IPO.
Bandhan Bank (anchor) — One of the anchor investors in the IPO.
Goldman Sachs (anchor) — One of the anchor investors in the IPO.
New York State Teachers Retirement System (anchor) — One of the anchor investors in the IPO.
BNP Paribas (anchor) — One of the anchor investors in the IPO.
Citigroup (anchor) — One of the anchor investors in the IPO.
Vertex Ventures (seller) — Sold shares worth ₹29.2 Cr across three funds; still holds 2.8 Cr shares worth ₹472 Cr.
Ammar Sdn Bhd (seller) — Sold 11.56 Lakh shares worth ₹19.8 Cr; still holds 1.45 Cr shares worth ₹248 Cr.
Ventureast (seller) — Sold shares worth ₹15.4 Cr; best performing fund Proactive Fund LLC sold 2.64 Lakh shares worth ₹4.5 Cr.
Endiya Partners (seller) — Sold 5.35 Lakh shares worth ₹9.2 Cr; still holds 67.28 Lakh shares worth ₹115 Cr.
AION Advisory Services (seller) — Sold 1.38 Lakh shares worth ₹2.4 Cr.