PB Fintech founder, AB Fashion CEO join Kissht board

Online lending platform Kissht has appointed Alok Bansal, co-founder of PB Fintech Ltd, and Sangeeta Pendurkar, chief executive of Aditya Birla Fashion and Retail Ltd, as independent directors on its board ahead of its public market listing.

- Mansi Verma

The startup has filed for conversion to a public limited company and plans to submit its draft red herring prospectus for an initial public offering by the end of July, two people with direct knowledge of the development told Mint.

"The company is also in talks to onboard more independent directors, particularly those with banking or finance backgrounds," one of them said.

Kissht is working with JM Financial, SBI Capital Markets Ltd, and two other bankers to lead the IPO, the second person said. Mint was the first to report on Kissht's plans to file pre-IPO documents to raise about $225 million.