In this fast generation, people are taking loans for education, business, and many other purposes. During this time, one of the leading companies, Kissht, is launching its IPO, which might be a good opportunity for investors to invest, along with doing proper company research and analysis of financial statements.
Weāll cover the companyās business model, financial performance, risks, strengths, and valuation. Youāll also get insights into market sentiment and expert views.
| Review By | Recommendation |
| IPOWatch |
Strengths:
- As of today, the app has 50+ million downloads, 11.7 million happy customers, and a 4.7-star rating on the Play Store.
- The firm has designed a robust data-first, ML-driven risk management system that assures asset quality, accurate credit decisions, and consistent outperformance.
- Customers can get exposure to a diversified and scalable funding model, supported by strong credit ratings.
- A smart, integrated system built on modern cloud and AI-built technology.
Weaknesses:
- Around 98% of its total assets (AUM) comes from unsecured loans. Any decrease in the demand for those loans can negatively affect the business and cash flow.
- The company’s growth depends on continuously launching new products, keeping up with new technologies, and innovating the platform. If failed to do so, it can adversely affect the business and its cash flow.
- In FY25, the firm has experienced a negative cash flow of ā¹661.43 crore, which means the company is spending more than earning.
- The firm has a pending contingent liability of ā¹1,793.49 crore. If the company had to pay those liabilities could negatively affect the companyās financial health.
Promoters & Track Records, if any
- Ranvir Singh, aged 47 years, is the Chairman, Chief Executive Officer, and Executive Director of the Company. He holds 24,291,232 Equity shares, representing 18.78% of pre-Offer Equity capital.
- Krishnan Vishwanathan, aged 50 years, is the Chief Financial Officer and Executive Director of the Company. He holds 17,493,894 Equity shares, representing 13.52% of pre-Offer Equity capital.
Comparison with the peer industry
| Company | EPS (ā¹) | PE Ratio | ROE% | NAV (ā¹) |
| OnEMI Technology | 33.09 | 5.16 | 17.74% | 187.58 |
| Bajaj Finance Limited | 26.89 | 32.73 | 19.19% | 155.60 |
| Cholamandalam Investment & Finance Company Limited | 50.72 | 29.31 | 19.71% | 281.45 |
| HDB Financial Services Limited | 27.40 | 27.26 | 14.72% | 198.80 |
| SBI Cards & Payment Services Limited | 20.15 | 39.61 | 14.82% | 144.86 |
Industry Peer Group P/E ratio
The P/E ratio ranges from a low of 24.70 to a high of 34.36, with an average of 30.83.
Expansion
- As per the RHP, IPO money (Fresh issue) will be used for the companyās expansion. Details are below the line.
- ā¹637.50 from the IPO money would be used to augment the capital base of our Subsidiary, Si Creva, to meet its future capital requirements arising out of the growth of our Subsidiary, Si Crevaās business.
- The rest of the money would be used for the General Corporate Purpose.
OnEMI Technology Solutions IPO – Should You Apply or Not?
Kissht is a digital lending platform that provides personal loans, business loans, and property loans. I am talking about OnEMI Technology solutions, a parent company of Kissht, which is coming with its ā¹926 crores IPO opening on the 30th of April.
The company has a track record of consistent growth. In March 2023, the AUM was ā¹1,268 crore, and by March 2025, it increased to ā¹4,087 crore, meaning a growth of 79% CAGR. Profit and revenue are also growing, indicating excellent revenue generation and cost management.
However, cannot ignore the risk that around 98% of AUM is coming from unsecured loans with no security. The firm is also saying that once listed, this will be the only company that is focused on digital lending. The IPO is valued at a P/E of 5.16x on the upper price band, indicating the IPO is priced attractively. As of 28th April, the GMP of the Kissht IPO is ā¹7.5, indicating a listing gain of 4.39%.
My Verdict: We all know, every sector has its own time to be at the top. Along with the in-depth research and prioritising your test, one should invest in the companies. Recently, Kissht IPO is going to launch, along with the good financials and consistency in net profit between 2023 and 2025.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the companyās RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
