OnEMI Technology Solutions, the parent company of lending platform Kissht, has successfully secured ₹277.8 crore from anchor investors. This significant capital infusion comes just before the launch of its highly anticipated initial public offering. The move signals strong institutional confidence in the company's growth trajectory and business model ahead of its market debut.
Anchor Round Attracts Marquee Investors
The company allocated 1.62 crore equity shares to a diverse group of anchor investors at a price of ₹171 per share. This price represents the upper end of the IPO's proposed price spectrum, indicating robust demand. The successful placement underscores the market's positive reception of the lending technology firm's public offering.
Domestic mutual funds played a pivotal role, acquiring 57% of the total anchor allocation, equivalent to 92.6 lakh shares. Prominent participants included HDFC Mutual Fund, ICICI Prudential, Whiteoak Capital, and Bandhan Bank through various schemes. This strong domestic participation highlights the local market's belief in the company's long-term potential.
The round also saw participation from notable international institutions, further diversifying the investor base. Key global names such as Goldman Sachs, New York State Teachers Retirement System, BNP Paribas, and Citigroup contributed to the funding. Their involvement adds a layer of global validation to OnEMI's financial standing and future prospects.
Details of the Public Offering
The initial public offering is scheduled to open for subscription on April 30 and will conclude on May 5. The public issue comprises a fresh issuance of shares worth up to ₹850 crore. Additionally, it includes an offer for sale (OFS) component of 44.4 lakh shares from existing stakeholders.
OnEMI Technology has established a price band of ₹162 to ₹171 per equity share for its public issue. At the upper end of this price band, the IPO is expected to value the company at approximately ₹2,881 crore. This valuation reflects the company's market position and growth expectations within the competitive fintech landscape.
Company Origins and Stakeholder Activity
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht operates as a digital lending platform. It provides a range of financial products, including personal and business loans up to ₹5 lakh, as well as insurance products. The company has carved a niche for itself by offering accessible credit solutions through its technology-driven platform.
The offer for sale component will allow some of the company's early backers to partially liquidate their holdings. Existing investors such as Vertex Ventures, Endiya Partners, and Ventureast are slated to offload a portion of their shares. This move provides an exit opportunity for venture capital firms that supported the company's initial growth phases.
A Look at Financial Performance
The company has demonstrated strong recent performance, reporting a profit after tax of ₹199.3 crore in the first nine months of fiscal year 2026. During this same period, its operating revenue reached ₹1,569.9 crore. These figures suggest a positive momentum heading into the public listing and a recovery in its financial health.
However, the company's performance in the preceding fiscal year showed a downturn compared to the year before. For fiscal year 2025, its profit after tax declined by about 18% to ₹160.6 crore, while operating revenue fell over 20%. This mixed financial history presents a comprehensive picture for potential investors evaluating the company's consistency.
The successful completion of the anchor investment round provides OnEMI Technology Solutions with significant momentum for its upcoming IPO. The strong backing from both domestic and international institutional investors sets a positive precedent for the public subscription period. This public offering marks a critical milestone for Kissht as it seeks to leverage public markets for its next phase of expansion.