Ahead of IPO, founders invest Rs 40 crore in Kissht at premium

Promoters of OnEMI Technology Solutions Ltd, which operates the digital lending platform Kissht, have infused nearly Rs 40 crore into the company, ahead of its initial public offering IPO that will open for subscription on April 30, sources said.

Promoters of OnEMI Technology Solutions Ltd, which operates the digital lending platform Kissht, have infused nearly Rs 40 crore into the company, ahead of its initial public offering (IPO) that will open for subscription on April 30, sources said. Founders Ranvir Singh and Krishnan Vishwanathan have collectively invested at Rs 201 per share, higher than the IPO price band of Rs 162-171, signalling confidence in the business, they added. According to the Red Herring Prospectus, promoters -- Singh and Vishwanathan -- hold, in aggregate, 32.30 per cent stake in the company. The development comes at a time when primary market investors are closely tracking promoter dilution and valuation metrics in new listings. Kissht has reported a sharp scale-up in operations, with assets under management (AUM) rising from about Rs 1,267 crore in FY23 to Rs 5,955 crore in the first nine months of FY26. Revenue from operations increased from Rs 984 crore to Rs 1,675 crore during the same period. Profitability also improved, with profit after tax (PAT) growing from Rs 27.7 crore in FY23 to Rs 197 crore in FY24. Market participants said participation by founders at a premium to the IPO band reflects confidence in the company's intrinsic value. The Rs 926-crore IPO comprises a fresh issue of equity shares aggregating to Rs 850 crore and an offer-for-sale (OFS) of 44,39,788 equity shares worth Rs 76 crore at the upper end by existing shareholders. The three-day issue will close on May 5. 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. The shares are expected to list on the BSE and NSE on May 8.