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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital infusion into subsidiary Si Creva
Strengthening the capital base of the non-banking finance subsidiary Si Creva Capital Services to support its future lending and growth requirements.
General corporate purposes
Funds earmarked for general corporate purposes.
(₹ in Crore)
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OnEMI Technology Solutions Limited, widely known by its Kissht brand, is a technology-led consumer lender that offers digital credit through a mobile application. It provides quick, app-based personal loans to salaried and self-employed borrowers, along with loan-against-property products aimed at small businesses and individuals. The company also runs a payments app called Ring, and its lending activity is carried out together with its non-banking finance subsidiary, Si Creva Capital Services. Incorporated in June 2016 and headquartered in Mumbai, the company has built a large digital customer base. As of December 2025 it reported roughly 63.7 million registered users and about 11.2 million customers served, with assets under management of close to Rs 5,956 crore. Earlier, as of March 2025, it counted around 53.2 million registered users and 9.16 million customers, a workforce of about 1,278 permanent employees, and a highly rated app with more than a million reviews. The business is built around proprietary, data-driven credit assessment that supports fast underwriting and disbursal at scale. Its model blends lending from its own books with partner-led arrangements, and it serves both online and offline merchants with instant consumer credit and EMI-based payment options. Revenue grew from about Rs 1,002 crore in FY2023 to Rs 1,700 crore in FY2024 before moderating to Rs 1,353 crore in FY2025, while profitability improved sharply from the earlier years. The company remains exposed to a large share of unsecured lending and to evolving regulation of digital lending and non-banking finance.
The company raised about Rs 278 crore from anchor investors ahead of the issue, allotting 1,62,44,216 shares at Rs 171 each. Participating anchors included HDFC Mutual Fund, ICICI Prudential Mutual Fund, Ashoka India Equity Investment Trust, White Oak Capital, Bandhan Mutual Fund, Quant Mutual Fund, Goldman Sachs, BNP Paribas and Citigroup, among others.
Source: RHP • Analysis provided for informational purposes
Last Updated: 8 July 2026, 5:30 PM
Technology-led lending platform
The company disburses loans quickly through its own mobile app, using a digital-first process that reduces manual steps for borrowers.
Large and growing user base
A steadily expanding pool of registered users and active customers gives the business scale and a source of repeat lending.
Data-driven underwriting
Proprietary risk and credit-assessment models help the company evaluate borrowers and price loans without relying solely on traditional bureau data.
Hybrid lending model
Combining lending from its own balance sheet with partner-led loans lets the company grow disbursals while managing capital use.
Experienced leadership
Promoters bring backgrounds across finance and technology, relevant to running a regulated digital-lending business.
High unsecured-loan exposure
A large share of the loan book is unsecured, which raises the risk of defaults and credit losses in a downturn.
Dependence on customer acquisition
Growth relies on continuing to add and retain borrowers at scale, which can be costly and competitive.
Regulatory exposure
Changes to digital-lending and non-banking finance rules could affect how the company sources, prices, or collects loans.
OnEMI Technology Solutions Limited
10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla (West), Mumbai, Maharashtra, 400070
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Technology and operational reliance
Heavy dependence on its own platforms means any system failure or data issue could disrupt lending operations.
Ongoing capital needs
Sustaining loan growth requires continual access to funding, and the balance sheet also carries sizeable contingent liabilities.