Kissht makes stock market debut at 12% top charge over IPO tag

Mumbai-based fully digital lending startup Kissht, plug by OnEMI Technology Options, listed on the BSE this day at Rs 191 per portion, nearly about 12% bigger than the topic tag of Rs 171. It climbed additional to shut at Rs 208, giving the firm a market cap of Rs 3,511 crore.

Vertex Ventures, Endiya Companions, and Ventureast — among the many firm’s early backers — bought section of their holdings at a top charge by the OFS (provide within the marketplace) route of the IPO, and are sitting on essential paper beneficial properties on their remaining stake. Others who bought their shares likewise are Ammar Sdn Bhd, and Aion Advisory. Whereas Ammar Sdn bought 1.1 million shares, Vertex bought around 1.6 million, and Ventureast around 700,000 shares.

Their weighted realistic charge of acquisition of the shares stood between Rs 79 to Rs 124, in maintaining with disclosures made by the firm in its red herring prospectus (RHP).

Even at the listing tag of Rs 191, the total investors stand to maintain won vastly from their wager on the firm. Kissht had raised around $133 million prior to the IPO.

The firm’s public arena used to be start for subscription from April 30 to May possibly possibly possibly 5, with a tag band of Rs 162-171 and a minimal funding of Rs 14,094 for plenty of 87 shares.

“At Endiya Companions, we wrote the predominant institutional cheque for Kissht in 2017, when mass-market digital lending used to be silent at a actually early stage,” acknowledged Sateesh Andra, managing director, Endiya Companions.

Based mostly in 2015 by former McKinsey executives Ranvir Singh and Krishnan Vishwanathan, Kissht started as a client lending platform focussed on checkout finance. It has since expanded into immediate deepest loans by the spend of each and each its accept steadiness sheet and partnerships with around 38 lenders.

Sooner than its IPO, Kissht raised Rs 278 crore (around $30 million) from 22 anchor investors. The anchor spherical observed participation from a combination of domestic mutual funds and world institutional investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, WhiteOak Capital, Goldman Sachs, Citigroup, and BNP Paribas.

The firm has witnessed rapidly boom in most modern years. Its belongings beneath administration (AUM) rose from around Rs 1,267 crore in FY23 to Rs 5,955 crore within the predominant 9 months of FY26. Earnings from operations elevated from Rs 984 crore to Rs 1,675 crore right by the identical duration, while salvage profit rose to Rs 197 crore within the December quarter of FY26 from Rs 27.7 crore in FY23.