KishT Operator OnEMI Tech Secures ₹278 Cr from Anchor Investors Ahead of April 30 IPO Listing

OnEMI Technology Solutions Ltd Mobilises ₹278 Crore from Anchor Investors Ahead of Maiden Public Offering

OnEMI Technology Solutions Ltd, the parent company of digital lending platform Kissht, has successfully mobilised ₹278 crore from anchor investors, ahead of its maiden public offering. This significant development comes just days before the company's initial public offering (IPO) opens for subscription on April 30 and closes on May 5.

The anchor book saw participation from a mix of domestic mutual funds and global investors, including HDFC Mutual Fund (MF), ICICI Prudential MF, Ashoka India Equity Investment Trust, WhiteOak Capital, Bandhan MF, Quant MF, Goldman Sachs, BNP Paribas, and Citigroup, among others. According to a circular uploaded on the BSE's website, Kissht allocated 1.62 crore equity shares at ₹171 apiece, which is also the upper end of the price band. This takes the transaction size to ₹277.77 crore.

The allocation breakdown reveals that domestic mutual funds accounted for 57% of the anchor allocation, with shares worth ₹158.3 crore allotted across 13 schemes of seven fund houses. The ₹926-crore issue comprises a fresh issue of equity shares aggregating to ₹850 crore and an offer-for-sale (OFS) of 44,39,788 equity shares worth ₹76 crore at the upper end by existing shareholders.

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Comparison of Issue Size and Allocation

The selling shareholders include Ammar Sdn Bhd Investor, Vertex Ventures SEA Fund III Pte. Ltd., Vertex Growth Fund Pte. Ltd., Vertex Growth Fund II Pte. Ltd., Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund, and VenturEast SEDCO Proactive Fund LLC. 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.

Kissht, founded in 2016, provides digital credit solutions focused on young consumers in the mass market segment. As of March 31, 2025, the platform had 53.23 million registered users and had served 9.16 million customers. The lot size has been fixed at 87 equity shares, with a minimum investment of ₹14,877 for retail investors at the upper price band.

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The IPO has been reserved for qualified institutional buyers (QIBs) at 50%, retail investors at 35%, and non-institutional investors (NIIs) at 15%. The shares are proposed to be listed on the BSE and NSE, with listing expected on May 8. JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers to the issue, while KFin Technologies Ltd is the registrar.