Endiya Partners, a Hyderabad-based early-stage venture capital firm, marks a significant milestone as Kissht (OnEMI Technology Solutions Limited) listed on the BSE and NSE on May 08. The listing represents Fund I’s first public market exit and caps a nine-year journey from seed investment to public markets.
Endiya wrote the first institutional cheque into Kissht in June 2017, when the segment was still early and not widely understood. The firm invested in every subsequent round through to the IPO, a nine-year commitment that is uncommon among early-stage investors.
Kissht today serves 11.17 million customers, has grown AUM to Rs 5,956 Cr as of December 31, 2025, and reported 9MFY26 PAT of Rs 199 Cr. Net NPA stands at 0.31% with provision coverage of 89%. The IPO was subscribed 9.5 times overall, with qualified institutional buyers subscribing their portion 24.87 times.
Fund I has delivered 2.0x DPI prior to the Kissht public market exit, representing a strong outcome for a seed fund of its vintage.
Ranvir Singh, Co-Founder and CEO of Kissht, said: “From our seed round in 2017 through COVID, a funding winter, and the pressures of scaling a digital lending business, Endiya never wavered. That combination of early conviction and long-term patience is rare in any investor, and it made a real difference to how we built Kissht.”
Krishnan Vishwanathan, Co-Founder of Kissht, added: “In the early days, conviction is lonely. You are building for a segment most don’t fully understand yet, with a product that does not exist. Endiya Partners didn’t just back the idea. They validated the segment.”
Sateesh Andra, Managing Partner at Endiya Partners, said: “We wrote the seed cheque in 2017 when the segment was still early and not widely understood. Nine years later, Kissht has served 11.17 million customers across India. Kissht joins Darwinbox in showing what patient, conviction-led investing produces when founders build with discipline.”