Kissht IPO Surpasses Expectations with Overwhelming Demand

Kissht's parent company, OnEMI Technology Solutions Ltd, launched a strongly-subscribed IPO, securing 9.50 times the proposed shares on the last bidding day. The IPO, valued at Rs 926 crore, is aimed at funding future growth and expanding the capital base of its subsidiary, Si Creva. Shares will list on BSE and NSE.

OnEMI Technology Solutions Ltd, the digital lending innovator behind Kissht, celebrated a landmark moment as its initial public offering (IPO) garnered 9.50 times its proposed shares on the final day of bidding. Strong interest from institutional investors significantly drove this interest.

Overall, the company sought bids for ₹37,76,71,176 shares compared to the 3,97,62,250 shares on offer. The IPO is segmented at a price range of Rs 162-171 per share, culminating in a valuation close to Rs 2,900 crore.

Proceeds from this offering will primarily enhance the capital base of Si Creva, a subsidiary, while covering general corporate expenses. Major players like JM Financial and HSBC led the budding stock market entry, with plans to list on both BSE and NSE.