Kissht IPO

Listed

MainboardOpens 30 April 2026Closes 5 May 2026

OnEMI Technology Solutions Limited, incorporated in 2016, is a leading technology-driven digital lender in India. Operating under the popular brand names Kissht (digital lending) and Ring (payments and credit app), the…

Live GMP Subscription Allotment

Price band

₹162 - ₹171

Issue size

₹925.92 Cr

Lot size

87 shares

Type

Mainboard

GMP

₹27 (+15.8%)

Est. listing

₹198

Est. profit / app

₹2,349

Retail quota

35.00%

Key ratios

As per RHP / filings

Face value

₹1

EPS

15.77

P/E ratio

10.84

RoNW

15.97%

ROE

17.74%

Debt / Equity

1.5

Timeline

IPO Opens

30 Apr

IPO Closes

5 May

Allotment

6 May

Listing

8 May

IPO Timeline & Listing Details

Event	Date	Details
IPO Open Date	30 April 2026	Subscription starts
IPO Close Date	5 May 2026	Subscription ends
Allotment Date	6 May 2026	Allotment
Listing Date	8 May 2026	Listing

Investment Categories

Category	Lots	Amount
Retail (Min)	1	₹14,877
Retail (Max)Just less than ₹2,00,000	13	₹1,93,401
SHNI (Min)Just above ₹2,00,000	14	₹2,08,278
SHNI (Max)Below ₹10,00,000	67	₹9,96,759
BHNIAbove ₹10,00,000	68	₹10,11,636

IPO Reservation Details

Category	Reservation
QIB (Qualified Institutional Buyer)	50.00%
NII (Non-Institutional Investor)	15.00%
SHNI (Small Non-Institutional Investor)	5.00%
BHNI (Big Non-Institutional Investor)	10.00%
Retail	35.00%
Total	100.00%

IPO Objectives

Augmenting the capital base of the Subsidiary, Si Creva Capital Services, to meet future capital requirements arising from business growth (₹637.50 Cr).
General Corporate Purposes.

Strengths

The company maintains a Massive User Base, with over 63 million registered users and 11 million customers served as of December 2025.
It benefits from high Brand Recognition via its dual-brand strategy, with 'Kissht' and 'Ring' catering specifically to the digital credit and payments segments.
The platform utilizes Scalable AI Tech, featuring a cloud-native architecture integrated across KYC, automated risk assessment, and collections processes.
The business has Experienced Backing, supported by marquee global investors and a founding team with deep expertise in the fintech and lending sectors.
It leverages Diversified Funding through its own NBFC and various partner financial institutions, ensuring access to scalable capital sources.

Weaknesses

There is significant Unsecured Lending Risk, as approximately 94% of the lending portfolio is unsecured, making it highly vulnerable to credit cycles or economic downturns.
The company faces Revenue Volatility, with total income experiencing a de-growth to ₹1,352 Cr in FY25 compared to ₹1,700 Cr in FY24.
It carries substantial Contingent Liabilities exceeding ₹1,790 Crores, which poses a potential risk to the long-term financial stability of the firm.
The Competitive Landscape is intense, with the company facing pressure from both traditional established banks and numerous well-funded digital lending startups.
The IPO saw Muted Subscription demand, with a Day 1 status of only 0.25x, suggesting that investors are currently adopting a cautious approach to the issue.

Financial Performance

Period Ended	31 Dec 2025 (9M)	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets (₹ Cr.)	3,568.78	2,701.1	1,796.53	1,275.2
Revenue (₹ Cr.)	1,583.93	1,352.69	1,700.3	1,001.51
PAT (₹ Cr.)	199.27	160.62	197.29	27.67
Net Worth (₹ Cr.)	1,254.34	1,005.99	804.57	566.23

Peer Comparison

Company	P/B Ratio	P/E Ratio	RONW (%)	Net Worth (₹ Cr.)
OnEMI Tech (Kissht)	0.91	10.84	15.97%	1,254.34
Bajaj Finance Limited	5.12	30.16	16.68%	0
SBI Cards	3.89	28.26	13.78%	0

Subscription Details

Daily Bids Status

Category	Day 1	Day 2	Day 3
QIB	0.69x	1.51x	25.97x
NII	0.11x	0.53x	6.9x
S-HNI	0.07x	0.26x	3.53x
B-HNI	0.13x	0.66x	8.59x
RII	0.06x	0.17x	2.13x
Total	0.25x	0.63x	9.96x

Overall Subscription Statistics

Category	Shares Offered	Shares Bid	Bid Amount (₹ Cr)
QIB	1,08,29,478	28,12,22,802	4,808.91
NII	81,22,109	5,60,81,766	959
Small NII	27,07,370	95,58,081	163.44
Big NII	54,14,739	4,65,23,685	795.56
RII	1,89,51,587	4,03,57,560	690.11
Total	3,79,03,174	37,76,62,128	6,458.02

Company Details

OnEMI Technology Solutions Ltd.
10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla (West), Mumbai, Maharashtra, 400070
+91 22 6947 5600
compliance@kissht.com
https://kissht.com/

Registrar Details

Kfin Technologies Ltd.
04067162222, 04079611000
kissht.ipo@kfintech.com
https://ipostatus.kfintech.com/

Frequently Asked Questions

What is the business model of OnEMI Technology?

OnEMI operates a digital lending and payments ecosystem through the Kissht and Ring apps, providing instant credit for consumers and MSMEs. Lending is facilitated through its own NBFC, Si Creva.

When does the Kissht IPO open and close?

The IPO opened on April 30, 2026, and is scheduled to close on May 5, 2026.

What is the current Grey Market Premium (GMP) for OnEMI IPO?

As of May 3, 2026, the GMP is approximately ₹4, suggesting an estimated listing price of ₹175 (a ~2.34% premium).

What is the minimum investment for retail investors?

A retail investor needs to apply for a minimum of 1 lot (87 shares), which costs ₹14,877 at the upper price band.

What are the major risks associated with this IPO?

The primary risks include a high percentage of unsecured loans (94%), significant contingent liabilities, and the competitive nature of the fintech lending sector.

Where will the shares be listed and what is the date?

The shares are proposed to list on the BSE and NSE mainboards on May 8, 2026.

Kissht IPO News & Updates

Follow the latest updates for Kissht IPO, including grey market moves and allotment news.

Kissht IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

Kissht IPO Details

Issue size, price, financials, and company info

Kissht IPO GMP

Live grey market premium and listing estimate

Kissht IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Kissht IPO Allotment

Allotment date, chances, and check by PAN

Kissht IPO Review

SWOT, strengths, risks, and IPO review

Kissht IPO FAQ

Common questions on dates, GMP, and allotment

Kissht IPO Registrar

Registrar website and how to check allotment

Kissht IPO Timeline

Open, close, allotment, and listing dates

Kissht IPO News

Updates, blogs, and latest IPO news

Sources

We match Kissht IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

SEBIRules for IPO allotment and disclosures in India
NSEExchange notices, bidding data, and listing updates
BSEExchange notices and IPO allotment check tools
RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
Kfin Technologies Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, and How allotment chances work.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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