Kissht Parent OnEMI Technology Launches ₹8,500 Cr IPO; Targets India’s Digital Credit Boom
OnEMI Technology IPO Opens April 30; ₹8,500 Cr Issue Bets Big on India’s Digital Credit Boom
OnEMI Founder-CFO Krishna Vishwanathan Drives ₹8,500 Cr IPO Vision
Backed by Sachin Tendulkar, OnEMI Technology Eyes Strong Debut with ₹8,500 Cr IPO
Bilkul Bazaar | By Rafat Quadri
Ahmedabad } 29 April 2026
OnEMI Technology Solutions Limited, the parent company of digital lending platform Kissht, has announced its Initial Public Offering (IPO), setting a price band of ₹162–₹171 per equity share. The issue will open for subscription on April 30 and close on May 5, 2026.
The IPO comprises a fresh issue of up to ₹8,500 crore along with an offer-for-sale (OFS) of up to 4.43 million shares by existing investors, including Vertex Ventures and Ventureast funds.
Backed by brand ambassador Sachin Tendulkar—a symbol of consistency and integrity—OnEMI Technology Solutions Limited, the parent of Kissht (derived from the Hindi-Urdu word for EMI), is launching its IPO from April 30 to May 5, 2026, with a price band of ₹162–₹171 per share, aiming to raise ₹8,500 crore through a fresh issue along with an offer-for-sale.
The company operates a technology-driven digital lending platform focused on India’s emerging middle class, with over 63 million registered users and strong FY26 financial traction. Proceeds will primarily be used to strengthen its NBFC subsidiary to fuel future growth, while investors will watch its scalable tech-led model, asset quality, and regulatory environment closely.
A Bet on India’s Credit-Hungry Digital Consumer
OnEMI operates in India’s fast-growing fintech lending space, offering instant digital loans through its mobile-first platform. The company primarily caters to young, aspirational consumers in the emerging middle-class segment—an audience that remains significantly underpenetrated in formal credit markets.
With 63.73 million registered users and over 11.17 million customers, the platform has scaled rapidly, driven by a strong digital interface and high customer satisfaction reflected in its Net Promoter Score (NPS) of 95.
Financial Strength and Scale
The company has demonstrated strong financial traction:
- Revenue (9M FY26): ₹15,599 million
- Net Profit (9M FY26): ₹1,992.69 million
- Assets Under Management (AUM): ₹59,557.53 million
- Active customers: 2.87 million
Its loan book remains highly granular, with a focus on salaried individuals earning ₹25,000–₹75,000 monthly—accounting for nearly 68% of its user base.
Tech-Driven Lending Model
A key differentiator for OnEMI is its deep integration of artificial intelligence and machine learning in credit underwriting and risk management.
The company uses 400+ data variables and operates 39 specialized underwriting models, enabling rapid loan approvals and risk assessment. Its proprietary tech stack includes:
- Loan Origination System (LOS)
- Loan Management System (LMS)
- Automated Collections System (ACS)
An in-house team of over 331 engineers and product specialists supports this ecosystem, underscoring its technology-first approach.
Use of IPO Proceeds
The company plans to deploy ₹6,375 crore from the fresh issue to strengthen the capital base of its NBFC subsidiary, Si Creva, to support future lending growth and expansion.
This move is expected to enhance lending capacity and deepen partnerships with banks and NBFCs, as OnEMI currently works with 47 lending partners across its platform.
Industry Tailwinds
India’s digital lending ecosystem is witnessing rapid expansion, fueled by:
- Rising smartphone penetration
- Increased financial inclusion
- Growing demand for small-ticket, instant credit
OnEMI’s focus on young, digitally native borrowers positions it well to benefit from these structural trends.
Management & Expert Quotes
Krishna Vishwanathan, Founder & CFO, OnEMI Technology Solutions Limited:
“At OnEMI, our vision has always been to make credit simple, transparent, and accessible for India’s emerging middle class. This IPO marks a significant milestone in our journey as we scale our technology-led lending platform and deepen financial inclusion across the country. With strong data science capabilities and a customer-first approach, we are building a resilient, future-ready credit ecosystem.”
Chirag Jain, Head – Investor Relations & Strategy- OnEMI Technology Solutions Limited
“We believe our differentiated digital model, combined with a granular loan book and strong partnerships, positions us well to deliver sustainable growth. The capital raised will further strengthen our balance sheet and enable us to accelerate our expansion across customer segments and geographies.”
Divyesh Vijay, SBI CAPS (VP- Equity Capital Markets)
“OnEMI represents a compelling play on India’s fast-evolving digital lending landscape. Its robust underwriting framework, scalable platform, and strong customer metrics make it well-positioned to capture the growing demand for formal credit among underserved segments.”
Risks to Watch
Despite strong growth prospects, investors should consider:
- Regulatory oversight in digital lending and NBFC sectors
- Dependence on partner lenders for off-book loans
- Credit risk in mass-market lending
- Competition from fintech and traditional banks
IPO Snapshot
- Company: OnEMI Technology Solutions Ltd (Kissht)
- Issue Size: ₹8,500 crore (Fresh Issue) + OFS
- Price Band: ₹162 – ₹171
- IPO Dates: April 30 – May 5, 2026
- Lot Size: 87 shares
- AUM: ₹59,557 crore
- Revenue (9M FY26): ₹15,599 million
- Net Profit (9M FY26): ₹1,992.69 million
Outlook
OnEMI’s IPO comes at a time when investors are increasingly eyeing India’s fintech space for long-term growth opportunities. With a strong user base, scalable tech platform, and expanding credit ecosystem, the offering is likely to attract significant interest.
However, valuation comfort, regulatory clarity, and asset quality performance will remain key factors determining investor response.
Disclaimer: This article is for informational purposes only and not investment advice. Readers should consult financial advisors before investing.
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