Temasek Holdings-backed Onemi Technology Solutions, operating under the brand Kissht, has filed preliminary documents with SEBI to raise capital through an IPO. The funds are intended to strengthen the capital base of its subsidiary, Si Creva, a middle-layer NBFC.
The proposed IPO will include a fresh issue of equity shares worth ₹1,000 crore and an offer-for-sale of 88.8 lakh shares by existing investors, according to the draft document filed on August 18.
Promoters collectively hold 53.67% of Onemi, including 30.89% owned by Ranvir Singh and Krishnan Vishwanathan. The remaining 46.33% is held by investors such as Temasek (through Vertex), Russia-based Sistema PJSFC, Endiya Trust, VenturEast, and AION Advisory Services, all of whom will participate in the IPO through the offer-for-sale component.
Kissht, which provides digital loans via its mobile app, may also pursue a pre-IPO placement of ₹200 crore. If successfully raised, the fresh issue size will be reduced by the amount of the pre-IPO funds.
The company plans to use ₹750 crore of the fresh proceeds to bolster Si Creva’s capital for future growth, with the remainder allocated for general corporate purposes.
Founded in 2016, Onemi Technology Solutions currently manages over 19 lakh active customers with ₹4,086.6 crore in assets under management (AUM) as of March 2025, up from ₹2,604.2 crore in FY24. For the year ended March 2025, disbursements fell 46.8% to ₹9,857.8 crore, while profit dropped 18.6% to ₹160.6 crore. Revenue from operations declined 20.1% to ₹1,337.5 crore.
The IPO is being managed by JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Capital as merchant bankers.
