Digital Lender Kissht Seeks More Capital Post-IPO

Digital lending platform Kissht is returning to the public markets for additional funding just four months after its stock market debut. The company's parent, On EMI Technology Solutions, has secured shareholder approval to raise up to ₹832 crore (approximately $10 million) through a preferential issue of equity shares.

This proposed fundraise follows Kissht's initial public offering, where it raised around ₹926 crore. The new proceeds are earmarked primarily for its lending arm, Si Creva, with 75% intended to support loan-book growth. The remainder will be allocated for general corporate purposes.

The move to seek further capital so soon after listing has drawn attention, placing Kissht among other listed startups like Ola Electric, Ather Energy, and Swiggy, which have also tapped public markets for follow-on funding through methods such as Qualified Institutional Placements (QIPs) and preferential issues.

Market analysts suggest several reasons for this trend. Companies may be pursuing accelerated growth strategies or capitalizing on favorable market valuations. In Kissht's case, its share price has nearly doubled since its IPO, allowing it to raise capital with less dilution. Some firms may also intentionally set lower IPO fundraising targets to ensure a successful listing, planning to secure additional funds later as needed.