Temasek subsidiary-backed Kissht files for Rs 1,000 crore IPO to augment NBFC subsidiary’s capital base

Temasek Holdings-backed Onemi Technology Solutions - the fintech operating under the brand Kissht - has filed preliminary papers with the Sebi to raise funds via an IPO to augment the capital base for its subsidiary Si Creva, a middle-layer NBFC.

The IPO will be a mix of fresh issuance of equity shares worth Rs 1,000 crore, and an offer-for-sale of 88.8 lakh shares by investors, as per the draft document filed on August 18.

Promoters hold 53.67 percent stake in Onemi, including 30.89 percent shareholding by Ranvir Singh and Krishnan Vishwanathan, while the remainder 46.33 percent shares are held by investors including subsidiaries of Vertex Holdings (which is a wholly-owned subsidiary of the Government of Singapore's global investment company Temasek Holdings), Ammar Sdn Bhd, Endiya Trust, VenturEast and AION Advisory Services. All the investors mentioned above will be selling shareholders in IPO through an offer-for-sale component.

Kissht, which offers digital loans through its mobile application may also consider a pre-IPO placement worth Rs 200 crore. If it manages to close the pre-IPO round, the fresh issue size will be reduced to the extent of the amount raised.