Digital Lender Kissht prepares $225 million IPO, TAPS ICICI Securities, UBS and Motilal Oswal
Online lending platform Kissht is preparing to leverage the capital markets through an IPO and has hired investment bankers to carry out the process Mint.
The company hired ICICI Securities, UBS Securities India Private Limited and Motilal Oswal Investment Banking and is finalizing a fourth banker, one person said. KISSHT may submit pre-IPO documents to regulators by June, planning to raise $225 million ( ₹The person added, 19.26 million).
The person asked to be anonymously said: “The IPO will be a hybrid of primary and medium-sized stake sales, with 75% capital raised to fund growth and new business lines.”
The second person said Kissht’s public listing valuation is between $900 million and $1.1 billion. Kissht previously raised about $80 million in 2022, with a valuation of about $344 million, which is funded by Vertex Growth and Brunei Investment Agency.
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, KISSHT’s business model focuses on unsecured consumer loans, including three verticals – consumer loans, purchasing financing (including E-Commerce Platforms and Flipkart), as well as MSME and MSME and MSME and MSME and Businessandinger Loans.
The person said the first and third parts accounted for almost 85% of the business, while the purchase financing was about 15%. The company recently entered a secured loan space with its loans for its property (LAP) business.
Front round
The first person added that Kissht also plans to plan a former IPO private fund after submitting the draft prospectus for Red Herring.
“The funds in the IPO and pre-IPO round will be mainly used to expand the loan book and invest in the technical infrastructure,” he said. The person said, “A large portion of the gains will also be allocated to the company’s newly initiated loans for real estate operations – secure the loan sector.”
Kissht earlier said it expects the new business to contribute 12-14% of the total loan book this year.
The company did not respond Mint. Emails sent to ICICI Securities and UBS investment banking did not elicit a response when the story was posted. Motilal Oswal declined to comment.
Based on the merger basis, KISSHT reports a 54% increase in payments ₹Credit ratings firm Crisil said the previous year’s fiscal 24 was $1.852.7 billion.
This leads to the increase in the management assets ₹26.69 billion, from ₹The previous year was 13.19 million. It reports the consolidated net profit (temporary) ₹202 million, from 3.4 times of fiscal year 23, total revenue is ₹According to the crisis, it was 17 billion in fiscal year 24.
