Sebi approves 5 IPOs including that of Kissht and Alcobrew Distilleries
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Capital markets regulator Sebi has approved five IPOs spanning digital lending, alcoholic beverages, textiles, precision engineering and engineered fabrics. One of the largest offerings in the pipeline is from OnEMI Technology Solutions, the company behind digital lending platform Kissht. The proposed IPO carries a face value of Re 1 and will consist of a fresh issue of shares worth up to Rs 1,000 crore, along with an offer for sale of up to 88,79,575 equity shares by existing investor shareholders. The issue will also include a reservation portion for eligible employees. The company may also undertake a pre-IPO placement of up to Rs 200 crore, which, if completed, will lead to a corresponding reduction in the size of the fresh issue. Founded in 2016, Kissht offers digital loans through its mobile application, providing credit for consumption and business needs, positioning itself as a fast, personalised lending platform. Another company ...