IPO-bound Kissht, which is operated by Onemi Technologies Private Ltd announced that its wholly owned NBFC subsidiary, Si Creva Capital Services Private Ltd, received a notable upgrade in its credit rating from CRISIL Ratings.
CRISIL raised the long-term rating to CRISIL A-/Stable from CRISIL BBB+/Stable, and the short-term rating to CRISIL A1 from CRISIL A2+, said the company.
Additionally, the ratings assigned to the company’s non-convertible debentures have also seen an upgrade. The upgrade in rating is indicative of Kissht’s robust business momentum, enhancing profitability, and solid capitalisation profile.
As emphasized in the rating rationale, assets under management (AUM) rose from around ₹4,087 crore on 31 March 2025 to ₹5,533 crore on 30 September 2025, fueled by ongoing growth in its unsecured personal loan segment.
Further the company stated that CRISIL acknowledged Kissht’s scalable digital lending approach, prudent underwriting practices, and robust capital reserves.
The upgrade highlights the effectiveness of Kissht’s unified digital and lending framework, which provides completely digital, technology-enhanced credit solutions for consumers throughout India.
“This CRISIL rating upgrade is a significant milestone for Kissht and reflects the strength of our business model, our focus on responsible lending, and our commitment to sustainable growth. We remain dedicated to expanding access to transparent and reliable financial solutions while maintaining prudent risk management standards,” said Ranvir Singh, Founder and CEO of Kissht.
Kissht IPO details
In August 2025, Kissht submitted its draft red herring prospectus (DRHP) to SEBI for a public offering. The firm intends to raise ₹1,000 crore through a new issuance of shares, alongside approximately 8.8 million equity shares offered for sale by current investors.
Kissht noted that ₹750 crore of the funds raised will be invested into its own non-banking finance company, Si Creva, while the remainder will be allocated to general corporate purposes. Furthermore, Kissht aims to secure around ₹200 crore through a pre-IPO placement, which, if achieved, will decrease the total size of the public offering.
According to draft papers, the Offer for Sale (OFS) includes shares owned by Vertex Ventures, Ventureast, Endiya Seed, and Aion Advisory Services. As reported by Tracxn, Vertex holds a 24% stake in Kissht, while Ventureast retains 10%, and the Ministry of Finance, Economy of Brunei possesses approximately 12.5%. The founders together hold about 26% of the company.
Established in 2015 by former executives from McKinsey, Ranvir Singh and Krishnan Vishwanathan, Kissht began as a technology-driven consumer lending firm that focuses on checkout finance. It provides immediate personal loans both through its balance sheet and in collaboration with roughly 38 lenders.
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