Founders Invest ₹40 Crore in Kissht Ahead of IPO Launch
Ahead of IPO, founders invest ₹40 crore in digital lending platform Kissht at premium
Mint
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Founders Ranvir Singh and Krishnan Vishwanathan have invested nearly ₹40 crore in OnEMI Technology Solutions Ltd, the parent company of digital lending platform Kissht, ahead of its IPO opening on April 30. Their investment at ₹201 per share exceeds the IPO price band of ₹162-171, reflecting confidence in the company's growth and valuation.
- 01Founders invested ₹40 crore ahead of IPO.
- 02Investment price of ₹201 per share is above IPO band.
- 03Kissht's assets under management increased significantly.
- 04Company reported substantial revenue growth.
- 05IPO proceeds will support subsidiary funding and corporate purposes.
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Founders of OnEMI Technology Solutions Ltd, Ranvir Singh and Krishnan Vishwanathan, have collectively invested nearly ₹40 crore in their digital lending platform Kissht ahead of its initial public offering (IPO) scheduled for April 30. Their investment at ₹201 per share is above the IPO price band of ₹162-171, indicating strong confidence in the company's prospects. The promoters hold a combined 32.30% stake in Kissht. The company has demonstrated impressive growth, with assets under management soaring from approximately ₹1,267 crore in FY23 to ₹5,955 crore in the first nine months of FY26, and revenue increasing from ₹984 crore to ₹1,675 crore during the same period. Profitability has also improved, with profit after tax rising from ₹27.7 crore in FY23 to ₹197 crore in FY24. The IPO aims to raise ₹926 crore, comprising a fresh issue of equity shares worth ₹850 crore and an offer-for-sale of 44,39,788 equity shares valued at ₹76 crore. Proceeds will be used to enhance the capital base of its subsidiary, Si Creva, and for general corporate purposes. Shares are expected to list on the BSE and NSE on May 8.
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The investment by founders may boost investor confidence, potentially leading to a successful IPO and increased funding for future growth.
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