Temasek Holdings-backed Onemi Technology Solutions, the fintech operating under the consumer lending brand Kissht, has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise funds via an initial public offering (IPO). The proposed issue is aimed at augmenting the capital base of its subsidiary Si Creva Capital Services, a middle-layer non-banking finance company (NBFC).
According to the draft red herring prospectus (DRHP) filed on August 18, the IPO will comprise a fresh issuance of equity shares worth Rs 1,000 crore, along with an offer-for-sale (OFS) of 88.8 lakh shares by existing investors. The fresh capital infusion is expected to strengthen Si Creva’s balance sheet and support its lending operations.
Promoter and Investor Shareholding
Currently, the promoters hold a 53.67 percent stake in Onemi Technology Solutions. Within this, co-founders Ranvir Singh and Krishnan Vishwanathan collectively hold 30.89 percent. The remaining 46.33 percent shareholding is distributed among several institutional investors. These include Temasek Holdings, through its subsidiary Vertex, Russia-based Sistema PJSFC, Endiya Trust, VenturEast, and AION Advisory Services..
As per the draft filing, all these investors will participate as selling shareholders in the IPO via the OFS route. Their partial exits are expected to provide liquidity while broadening the company’s shareholder base.
Pre-IPO Placement on the Cards
Alongside the IPO, Kissht may also consider a pre-IPO placement of equity shares worth up to Rs 200 crore. If the company is able to conclude this placement successfully, the size of the fresh issue component will be reduced accordingly.
Kissht operates primarily as a digital lending platform, offering personal loans and consumer credit through its mobile application. The proposed IPO and potential pre-IPO round underline the company’s intent to strengthen its financial foundation and expand its reach in India’s growing digital lending market. With strong backers and rising demand for digital credit, Kissht’s public market debut will be closely tracked by both investors and rivals in India’s competitive fintech ecosystem.