OnEMI Technology Solutions Limited, the parent company of digital lending platform Kissht, recently filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise Rs 1,000 crore from a fresh issue of equity shares. The public offering also involves an offer-for-sale (OFS) of 8.88 million equity shares.

Among its shareholders, Ammar Sdn Bhd will be offloading shares worth Rs 20.89 lakh, followed by Vertex Ventures SEA Fund III and Endiya Seed Co-creation Fund, which will be selling shares worth Rs 14.31 lakh and Rs 9.67 lakh, respectively. Further, Vertex Growth Fund Pte. Ltd. and AION Advisory will offload shares worth Rs 12.53 lakh and Rs 2.50 lakh, respectively.

Background

Founded in 2016, Kissht claims to service young and digitally savvy credit-seeking customers. Its services include credit assessment, loan disbursal, and collections.

The DRHP also sheds light on various business features of the company:

  • Underwriting models: Kissht analyses data variables including banking & transactional data, credit history, and others using AI/ML algorithms. It houses 34 specialised sub-models that factor in multiple parts of a customer’s profile, like occupation type, credit bureau data depth, banking behaviour, etc.
  • Collections: It utilises an AI-driven Automated Collections System (ACS) alongside tele-callers to improve its recovery outcomes.
  • Automated system-based early warning triggers: Kissht uses early warning triggers that automatically curb approvals when pre-defined risk thresholds are breached.

How will the IPO proceeds be deployed?

The company contends that its net proceeds will be used for the following purposes:

  • Augmenting the capital base of its subsidiary, Si Creva: Kissht aims to meet future capital requirements arising from this venture’s growth and has earmarked Rs 750 crore for this purpose. Si Creva is a non-banking financial company (NBFC) aiming to augment its Tier 1 capital base.
  • General corporate purposes: These include capital expenditure, expenses for information technology (IT) infrastructure, rental, and administrative costs, among others. The platform won’t utilise more than 25% of the gross proceeds for this purpose.

Key metrics

  1. Assets and liabilities: As of March 31, 2025, the company holds non-current assets worth Rs 539.7 crore and current assets worth Rs 2,161.3 crore. Conversely, it faces total liabilities of Rs 1,695.1 crore. 
  2. Income and expenses: The company reported expenses worth Rs 1,136.4 crore as of March 31, 2025. This included finance costs, impairment of financial instruments, depreciation & amortisation, and employee benefits expenses, among others. Meanwhile, it reported a total income of Rs 1,352.6 crore. 
  3. Revenue: The company’s revenue from operations fell 20.1% year-over-year (YoY) to Rs 1,337.4 crore as of March 31, 2025. Moving forward, Kissht’s net profit fell 18.5%…

Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We blogs.grocliq.com want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at [email protected]

 

 

Categorized in:

Blog,

Last Update: August 22, 2025