Kissht raises Rs 278 crore from anchor investors ahead of Rs 926 crore IPO

Synopsis

Digital lending platform Kissht has secured Rs 278 crore from anchor investors. This comes ahead of its initial public offering scheduled to begin on April 30. The company aims to raise Rs 926 crore through the public issue. Kissht has shown significant growth in assets under management and revenue. It plans to use the funds for business expansion.

Digital lending platform Kissht has raised about Rs 278 crore from anchor investors ahead of its IPO (initial public offering starting) on April 30, the company said in an exchange filing.

It allotted Rs 1.62 crore equity shares to 22 anchor investors at Rs 171 apiece, totalling Rs 277.8 crore. The anchor book primarily saw participation from domestic mutual funds, which accounted for 57% of the allocation across multiple schemes.

Investors in the anchor round included HDFC Mutual Fund, ICICI Prudential Mutual Fund, Bandhan Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, and Quant Mutual Fund. Global institutions such as Goldman Sachs-backed funds, the New York State Teachers Retirement System, BNP Paribas Financial Markets, and Citigroup Global Markets, Mauritius, also participated.

No bids were received from life insurance companies or pension funds, with the unsubscribed portion subsequently allocated to domestic mutual funds.

The public offering comprises a fresh issue of approximately 49.7 million shares for Rs 850 crore, and an offer for sale (OFS) of 4.4 million shares, which is expected to fetch around Rs 76 crore, taking the total issue size to Rs 926 crore. At the upper end of the price band, the company is targeting a post-money valuation of Rs 3,062 crore.

Founded in 2015 by former McKinsey executives Ranvir Singh and Krishnan Vishwanathan, Kissht started as a consumer lending platform focussed on checkout finance. It has since expanded to include instant personal loans, both through its own balance sheet and in partnership with about 38 lenders.

The company has witnessed rapid growth in recent years. Its assets under management (AUM) rose from around Rs 1,267 crore in FY23 to Rs 5,955 crore in the first nine months of FY26. Its revenue from operations grew from Rs 984 crore to Rs 1,675 crore during the same period, while net profit increased to Rs 197 crore in the December quarter of FY26 from Rs 27.7 crore in FY23.

Kissht said it had over 63 million registered users as of December 31, 2025, and has served more than 11 million users to date.

The anchor round, which precedes the IPO, is typically seen as an indicator of institutional demand for the issue. As per regulations, if the final offer price discovered through the book-building process exceeds the anchor allocation price, anchor investors will be required to pay the difference.

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