IPO of India’s digital lending platform signals fintech’s next chapter

The IPO, valued at INR9259 million, represents a pivotal moment for the country’s rapidly expanding fintech sector. Kissht is among the first digital lending platforms in India to go public, highlighting growing momentum in this space. The Shares of Kissht will be listed on the National Stock Exchange of India Limited and BSE Limited.

Established in 2016, Kissht a technology-enabled lender in India, primarily offering digital loans through its mobile application for various consumption and business needs. Kissht provides credit solutions to support customers throughout their financial journeys. It is focused on young individuals within the mass market segment, representing India’s emerging middle class, which is aspirational, digitally connected and underpenetrated in terms of credit. 

Proceeds from the IPO will be used to augment the capital base of its subsidiary to meet its future capital requirements, as well as for general corporate purposes. 

“This transaction underscores the growing appetite for innovative financial services companies in India’s capital markets and highlights the increasing sophistication of the country’s equity ecosystem”, said Pallavi Gopinath Aney, partner and co-head of the firm’s India Group at A&O Shearman. 

The A&O Shearman team was led by partners Pallavi Gopinath Aney and Mark Leemen, supported by Nabil Shadab, Shinjan Alok, and Rajshree Agarwal.