Kissht IPO: Check IPO Date, Live Subscription and Key Details
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 company provides seamless consumer credit solutions for online and offline purchases. Its subsidiary, Si Creva Capital Services, an NBFC, manages the lending operations, KYC, and collections. As of December 2025, the platform boasts over 63 million registered users and a significant AUM of ₹5,955.75 Crores, focusing on personal loans, MSME business loans, and loans against property.
Price Range
₹162.0 - ₹171.0
Issue Size
₹925.92 Cr
Lot Size
87 shares
IPO Type
Mainboard
GMP
₹4(+2.34%)
Est. Listing Price
₹175
Estimate Profit
₹348
Retail Portion
35.00%
Key Metrics
Check Live GMPGMPFace Value
₹1
EPS
15.77
P/E Ratio
10.84
RoNW
15.97%
ROE
17.74%
Debt to Equity
1.5
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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.
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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 |
|---|---|
| QIB | 0.69x |
| NII | 0.11x |
| S-HNI | 0.07x |
| B-HNI | 0.13x |
| RII | 0.06x |
| Total | 0.25x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,08,29,478 | 74,27,973 | 127.02 |
| NII | 81,22,109 | 8,94,621 | 15.3 |
| Small NII | 27,07,370 | 1,80,264 | 3.08 |
| Big NII | 54,14,739 | 7,14,357 | 12.22 |
| RII | 1,89,51,587 | 11,82,852 | 20.23 |
| Total | 3,79,03,174 | 95,05,446 | 162.54 |
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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.
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