OnEMI Technology Solutions Limited IPO: High GMP or Risky Bet? Full Details

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OnEMI Technology Solutions Limited IPO
OT
OnEMI Technology Solutions Limited IPO
Fintech · Digital Lending · Kissht & Ring Apps · NBFC Services
📋 Mainline IPO Fresh + OFS NSE, BSE
₹171
Upper Price
₹925.92 Cr
Issue Size
May 8, 2026
Listing Date
₹2,881.06 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Thursday, 30 April 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 5 May 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 6 May 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 7 May 2026
Unallotted funds returned; shares credited to demat
🏷️
Friday, 8 May 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date30 April 2026 (Thu)
IPO Close Date5 May 2026 (Tue)
Listing Date8 May 2026 (Fri)
Face Value₹1 per share
Price Band₹162 to ₹171
Issue Price (Upper Band)₹171 per share
Issue TypeBook Build — Fresh + OFS
Lot Size87 shares
Total Issue Size5,41,47,390 shares (₹925.92 Cr)
Fresh Issue4,97,07,602 shares (₹850 Cr)
Offer for Sale (OFS)44,39,788 shares (₹75.92 Cr)
Pre-Issue Shares11,87,75,420
Post-Issue Shares16,84,83,022
Promoter Holding (Pre)32.30%
Market Cap (Pre-IPO)₹2,881.06 Cr
Listing ExchangeNSE, BSE
Lead ManagerJM Financial Limited
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹171
Investor TypeLotsSharesAmount
Retail — Minimum187₹14,877
Retail — Maximum131,131₹1,93,401
S-HNI (sNII) — Min141,218₹2,08,278
S-HNI (sNII) — Max675,829₹9,96,759
B-HNI (bNII) — Min685,916₹10,11,636
⚠️ Note: Investors can bid for a minimum of 87 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net Offer
Not more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore
Metric31 Dec 202531 Mar 202531 Mar 202431 Mar 2023
Total Assets3,568.782,701.101,796.531,275.20
Total Income1,583.931,352.691,700.301,001.51
PAT199.27160.62197.2927.67
EBITDA488.45403.37358.9697.71
Net Worth1,254.341,005.99804.57566.23
Total Borrowing2,047.521,507.58784.30387.89
Income Growth
FY 2022–23₹1,001.51 Cr
FY 2023–24₹1,700.30 Cr
FY 2024–25₹1,352.69 Cr
🎯 Key Performance Indicators
17.74%
ROE
FY 2024–25
1.50
Debt/Equity
FY 2024–25
15.97%
RoNW
FY 2024–25
23.51%
ROE (9M FY26)
Dec 31, 2025
1.63
Debt/Equity (9M)
Dec 31, 2025
21.18%
RoNW (9M)
Dec 31, 2025
0.91x
Price/Book
Dec 31, 2025
Kissht
Lending Tech
Brand
⚖️ Valuation & EPS
Pre-IPO EPS
₹13.52
FY25 earnings + pre-issue shares
P/E: 12.65x
Post-IPO EPS
₹15.77
Annualised 9M FY26 + post-issue shares
P/E: 10.84x
Price to Book Value
0.91x
At ₹171 (post-issue book)
Market Cap (Pre-IPO)
₹2,881.06 Cr
At issue price ₹171
ℹ️ Pre-IPO EPS (₹13.52) based on pre-issue shares (11,87,75,420) and FY25 earnings. Post-IPO EPS (₹15.77) based on post-issue shares (16,84,83,022) and annualised 9M FY26 earnings (Dec 31, 2025). Indicative figures from the RHP.
🎯 Objects of the Issue
Net proceeds utilisation
1
Augmenting the capital base of Subsidiary, Si Creva, to meet its future capital requirements
₹637.50 Cr
2
General Corporate Purposes
Balance
Total Net Proceeds Goal ₹637.50 Cr
🏢 About OnEMI Technology Solutions Limited
Est. 2016 · Mumbai, Maharashtra · Fintech & Payments

OnEMI Technology Solutions Limited is a technology-enabled digital lender in India, primarily offering consumer credit through its flagship mobile applications — Kissht (digital lending) and Ring (payments app). The company empowers merchants and consumers with seamless EMI-based payment solutions for various consumption and business needs.

The company operates through its NBFC partner, Si Creva Capital Services, providing personal loans to salaried/self-employed individuals and MSME loans for business growth. As of Dec 2025, OnEMI serves a massive user base of 63.73 million registered users with an AUM of Rs 59,557.53 million, leveraging a scalable, cloud-native technology platform.

Brand Ecosystem
📱
Kissht
Leading digital lending platform for instant credit and EMI solutions
💳
Ring App
Payments app enabling seamless credit and payment for daily needs
🏛️
Si Creva Capital
NBFC partner for disbursement, KYC, and collection of consumer loans
📊
AUM Base
₹5,955 Cr Asset Under Management with diversified funding sources
Competitive Strengths
👥Large customer base with 63.73 million registered users as of Dec 2025
⚙️Cloud-native, AI-built technology platform integrated across key functions
🛡️Comprehensive risk management systems ensuring superior asset quality
💰Access to diversified and scalable funding sources for continuous growth
Company Promoters
RS
Ranvir Singh
Promoter, OnEMI Technology Solutions Limited
KV
Krishnan Vishwanathan
Promoter, OnEMI Technology Solutions Limited
📅 Key Dates
IPO Opens30 Apr 2026
IPO Closes5 May 2026
Allotment6 May 2026
Refund & Share Credit7 May 2026
Listing Day8 May 2026
💡 Quick Summary
Price Band₹162 – ₹171
Upper Price₹171 / share
Lot Size87 shares
Min. Investment (Retail)₹14,877
Issue Size₹925.92 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Registrar
Kfin Technologies Ltd.
📞 040-67162222
[email protected]
Lead Manager
JM Financial Limited
📍 Registered Address
OnEMI Technology Solutions Ltd.
10 th Floor, Tower 4, Equinox Park,
LBS Marg, Kurla (West), Mumbai,
Maharashtra — 400070
📞 +91 22 6947 5600
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the OnEMI Technology IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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