By Mr. Abhay Ray 
Introduction
Kissht, an online lending platform, is preparing to tap the capital markets with an initial public offering and has hired investment bankers for the process, two people aware of the development told Mint.The company hired ICICI Securities, UBS Securities India Private Limited and MotilalOswal Investment Banking and is finalising a fourth banker, one person said. Kissht is likely to file pre-IPO documents with the regulator by June, planning to raise $225 million (₹1,926 crore), the person added. “The IPO will be a mix of primary and secondary share sales, with 75% expected to be primary capital raised to fund growth and new business lines,” the person said, requesting anonymity.
About Kissht and Valuation
Founded by Ranvir Singh and Krishnan Vishwanathan in 2015, Kissht’s business model is centred on unsecured consumer lending comprising three verticals consumption loans, purchase financing (including e-commerce platforms Amazon and Flipkart), and MSME and business-owner loans.
The first and third segments together account for almost 85% of the business, while purchase financing contributes about 15%, the person said. The company recently entered the secured lending space with its loans against property (LAP) business.
Kissht is looking at a valuation of $900 million to $1.1 billion for its public listing, the second person said. Kissht previously raised funding of about $80 million in 2022, at a valuation of about $344 million, from Vertex Growth and Brunei Investment Agency.
Kissht Partners with ICICI, UBS, and Motilal Oswal for $225 Million IPO
Kissht, a prominent fintech company, is preparing for a $225 million IPO, marking a significant step in its growth journey. To lead this public offering, Kissht has partnered with top investment firms ICICI Securities, UBS, and Motilal Oswal. The collaboration with these renowned firms underscores strong investor confidence and positions Kissht for a successful launch. With a growing customer base and increasing demand for its financial services, the IPO will provide the necessary capital to accelerate its expansion and strengthen its market presence. As the fintech sector continues to evolve, this IPO represents a pivotal moment for Kissht, aiming to further solidify its standing in the competitive landscape.
Kissht Pre-IPO Round
Kissht also plans a pre-IPO private funding round after it files the draft red herring prospectus, the first person added.“The funds from the IPO and pre-IPO round will primarily be used to expand the loan book and invest in technology infrastructure,” he said. “A significant portion of the proceeds will also be allocated to growing the company’s newly launched loans against property business secured lending segment,” the person said. Kissht said earlier it expects the new business to contribute 12-14% of its overall loan book this year.
The company did not respond to queries from Mint. Emails sent to ICICI Securities and UBS Investment Banking did not elicit a response at the time of publishing the story. MotilalOswal declined to comment. On a consolidated basis, Kissht reported a 54 percent growth in disbursements to ₹18,527 crore in FY24 from the previous year, credit rating firm Crisil said.
This led to an increase in assets under management to ₹2,669 crore, up from ₹1,319 crore the year before. It reported a consolidated net profit (provisional) of ₹202 crore, a 3.4x jump from FY23, on a total income of ₹1,700 crore in FY24, as per Crisil.
Kissht on $225 Million IPO, Teams Up with ICICI, UBS, and MotilalOswal
Kissht, a leading fintech company, is targeting a $225 million initial public offering (IPO) to fuel its expansion. The company has partnered with major investment firms ICICI Securities, UBS, and Motilal Oswal to manage the IPO process, signaling strong confidence in its growth trajectory. With a rapidly expanding customer base and increasing demand for its financial products, this IPO will provide Kissht with the capital needed to enhance its market position. The collaboration with top-tier financial institutions will help ensure the successful execution of the IPO, positioning Kissht for long-term success in the competitive fintech landscape.
Conclusion
Kissht’s $225 million IPO marks a pivotal moment in the company’s growth, setting the stage for expanded market reach and increased investment. By partnering with industry giants ICICI Securities, UBS, and MotilalOswal, Kissht is positioning itself for a successful public offering, backed by strong investor confidence and strategic financial support. As the fintech landscape continues to evolve, this move will not only provide the capital necessary for further expansion but also solidify Kissht’s presence in a competitive market. With these partnerships, Kissht is poised to continue its growth trajectory, offering innovative financial solutions to a growing customer base.