As a fintech startup, Kissht has officially transformed into a public entity, marking its initial formal move toward going public.

Kissht, established in 2015 by Ranvir Singh and Krishnan Vishwanathan, is a lending tech platform that asserts it provides quick and easy access to personal and business loans of up to INR 5 Lakh with minimal digital documentation.  Kissht also offers health-related insurance products.

The startup’s shareholders, according to its submissions to the Registrar of Companies (RoC), passed a resolution during a meeting on June 17, 2025, to change from a private limited company to a public limited company—a necessary move for companies looking to list on Indian stock exchanges.

As a result of the move, the company’s name has changed from OnEMI Technology Solutions Private Limited to OnEMI Technology Solutions Limited.

Related: Morgan Stanley Divests PB Fintech Stake Worth ₹19.1 Crore

The conversion forms a component of Kissht’s wider strategy to generate funds via its IPO.  According to the filings, the IPO will consist of a new issuance of shares and an offer for sale (OFS).

A report from Livemint states that Kissht is anticipated to submit its DRHP by the end of this month.  Prior to the listing, the startup bolstered its board by bringing on Alok Bansal (cofounder of PB Fintech) and Sangeeta Pendurkar (CEO of Aditya Birla Fashion and Retail) as independent directors.

Reports had previously stated that the startup was considering an IPO of approximately $225 million (almost INR 1,926 crore).

It was also mentioned that Kissht has enlisted ICICI Securities, UBS Securities, and Motilal Oswal as lead bank managers for the public offering.

The fintech startup has secured over $142 million in funding so far, with investors including Endiya Partners and the Brunei Investment Authority, among others.  It goes up against companies such as Moneyview, Lendingkart, Capital Float, FlexiLoans, and KredX.

The plans for Kissht’s IPO coincide with an increasing number of Indian startups preparing to go public.  In the last week, four tech companies focused on new-age technologies submitted their draft IPO documents to SEBI.  Shadowfax submitted its DRHP through the confidential pre-filing route just a day ago.  In addition, the IPO documents of Curefoods, Pine Labs and Wakefit were submitted in the past few days.

Although there is still considerable investor interest in new-age tech IPOs—particularly in India—profitability remains a primary area of concern.  In this regard, Kissht seems to be strategically positioned.

In FY24, the net profit of the fintech startup skyrocketed by 234% to INR 82.46 Cr, up from INR 24.67 Cr in the prior year.  Operating revenue skyrocketed by almost 60% to INR 412 Cr from INR 258 Cr in FY23.