About OnEMI Technology IPO
OnEMI Technology Solutions IPO Details
The OnEMI Technology Solutions IPO is a 100% book-built issue of ₹926 crores, comprising a fresh issue of ₹850 crore and an offer for sale (OFS) of ₹76 crore, with a face value of ₹10 per equity share. The company filed the DRHP with SEBI on August 18, 2025.
The price band of this issue is set between ₹162 and ₹171 per share and the lot size for an application is 87 shares. The IPO will open for subscription from April 30 to May 5, 2026, on the BSE and NSE platforms, with a tentative listing date fixed as May 8, 2026. The book-running lead managers (BRLMs) of the OnEMI Technology Solutions IPO are JM Financial, HSBC Securities, Nuvama Wealth Management, SBI Capital Markets and Centrum Capital, while the registrar of the issue is KFin Technologies.
OnEMI Technology Solutions IPO Date & Timeline
The OnEMI Technology Solutions IPO is officially set to open for subscription on Apr 30, 2026 and will close on May 5, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on August 18, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on May 6, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on May 7, 2026. Finally, the OnEMI Technology Solutions Ltd.'s shares are tentatively scheduled to list on the stock exchanges on May 8, 2026.
OnEMI Technology IPO Timeline
| IPO Open Date | Thu, Apr 30, 2026 |
| IPO Close Date | Tue, May 5, 2026 |
| Tentative Allotment | Wed, May 6, 2026 |
| Initiation of Refunds | Thu, May 7, 2026 |
| Credit of Shares to Demat | Thu, May 7, 2026 |
| Tentative Listing Date | Fri, May 8, 2026 |
| Cut-off time for UPI mandate confirmation | - |
OnEMI Technology IPO Details
| Detail | Description |
|---|---|
| IPO Date | 30 Apr to 5 May, 2026 |
| Listing Date | - |
| Face Value | ₹ 1 per share |
| Issue Price Band | ₹ 162 to ₹ 171 |
| Lot Size | 87 Shares |
| IPO Type | Fresh capital cum OFS |
| Total Issue Size | 5,41,47,390 shares (agg. up to ₹ 926 Cr) |
| Fresh Issue(Ex Market Maker) | 4,97,07,602 shares (agg. up to ₹ 850 Cr |
| Offer for Sale | 44,39,788 shares of ₹1 (agg. up to ₹ 76 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,87,75,420 shares |
| Share Holding Post Issue | 16,84,83,022 shares |
OnEMI Technology Solutions IPO GMP
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The OnEMI Technology Solutions IPO GMP is currently trading at ₹18, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹189, which is 10.53% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹171 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹18 and a lot size of 87 shares.
OnEMI Technology GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | ₹171.00 | ₹18 | - |
| - | ₹171.00 | ₹26 | - |
| - | ₹171.00 | ₹28 | - |
| - | ₹171.00 | ₹13.25 | - |
| - | ₹171.00 | ₹1.5 | - |
| - | ₹171.00 | ₹4 | - |
| - | ₹171.00 | ₹4 | - |
| - | ₹171.00 | ₹3.6 | - |
| - | ₹171.00 | ₹4.5 | - |
| - | ₹171.00 | ₹4.5 | - |
| - | ₹171.00 | ₹4 | - |
| - | ₹171.00 | ₹7.5 | - |
| - | ₹171.00 | ₹0 | - |
Company Background
OnEMI Technology Solutions Ltd. is a private company that was incorporated in June 2016. However, it changed to a public limited company in 2025 to list on the stock exchange in India. The company was formed with a vision to bridge the credit gap between the underserved demographics of India. Since it is headquartered in Mumbai, India, it has evolved from an early-stage startup to a well-known digital lending and payments company. Currently, OnEMI primarily focuses on providing consumer credit solutions to India's growing middle class.
Operations & Product Range
OnEMI Technology Solutions Ltd. is a financial and technology company that functions as a digital lender and is highly scalable in nature. Its main products include quick personal loans for day-to-day expenses and secured loans, such as loans against properties that cater to small businesses that have assets and need funds to expand. At first, the company connected individuals digitally, particularly those underserved by banking institutions, which formed its target customer segment. Its mobile applications are proprietary in nature and offer seamless services.
Facilities & Capacity
OnEMI Technology Solutions Ltd. mainly operates through its highly sophisticated digital infrastructure, unlike conventional banking institutions, which operate through their branch networks. OnEMI Technology Solutions Ltd. operates its corporate business activities through its headquarters located in Kurla, Mumbai. However, the true essence of this business is its highly efficient technological system, which uses its AI models and data analysis to make quick decisions about loans. As of March 2025, the highly scalable digital facility had successfully served over 530.26 lakh registered users, including 90.16 lakh customers.
Brands & Market Presence
With its flagship digital brands, "Kissht" and "Ring," OnEMI Technology Solutions Ltd. has established a reputable market presence. "Kissht" serves as a digital lending platform, while "Ring" functions as a payments application. The company has created a strong presence within India, with a considerable portion of its customer base residing within India's top 50 cities. Moreover, the market presence of its brands is evident through high user engagement, such as high ratings on the Google Play Store, backed by more than one million user reviews, indicating high brand trust within the financial services industry.
Revenue Streams & Business Model
The main source of revenue for OnEMI Technology Solutions Ltd. is the strong hybrid lending model, which incorporates interest income as well as processing fees from consumer credit, as well as EMI-based payment solutions offered by the firm. The business model incorporates on-book lending, which implies that the firm lends money directly through Si Creva Capital Services, which is a non-banking financial company (NBFC) that partners with the firm in the process. The firm is also able to expand its capacity in terms of loan origination through off-book partnerships with financial institutions.
Management & Shareholding
The strategic direction of OnEMI Technology Solutions Ltd. is spearheaded by its core promoters, Ranvir Singh and Krishnan Vishwanathan, both of whom bring deep expertise in financial services, technology and risk analytics. Before the IPO, the promoters held a significant 30.89% stake in the company, but after the IPO, the promoter shareholding will be diluted to accommodate the public market participants.
Board & Key Management
The leadership of OnEMI Technology Solutions Ltd. is led by a team of experts with many years of experience. Ranvir Singh serves as the Chairman and Executive Director and gives strategic direction to the firm and the daily operations. To ensure good governance, the board includes Independent Directors Yogesh Chadha, Alok Bansal and Sangeeta Tanwani for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
OnEMI Technology IPO Financial Information
Latest Revenue
155.99
₹ Crore
Profit After Tax
199.27
₹ Crore
Net Worth
1,254.34
₹ Crore
Total Borrowing
2,047.52
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 3,568.78 | 155.99 | 199.27 | 1,254.34 | 1,242.32 | 2,047.52 | |||
| 31 Mar 2025 | 2,701.10 | 133.74 | 160.62 | 1,005.99 | 995.32 | 1,507.58 | |||
| 31 Mar 2024 | 1,796.53 | 167.44 | 197.29 | 804.57 | 794.50 | 784.30 | |||
| 31 Mar 2023 | 1,275.20 | 98.44 | 27.67 | 566.23 | 556.17 | 387.89 | |||
| Amount in ₹ Crore | |||||||||
OnEMI Technology Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 17.74% |
| ROCE | - |
| Debt/Equity | 1.50 |
| RoNW | 15.97% |
| PAT Margin | - |
| EBITDA Margin | - |
| Price to Book Value | 0.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.52 | 15.77 |
| P/E (x) | 12.65 | 10.84 |
OnEMI Technology Solutions IPO Objectives
OnEMI Technology Solution intends to use the IPO proceeds for strategic purposes:
- • Funding the capital requirements of its subsidiary, Si Creva Capital Services
- • General corporate purposes
OnEMI Technology Solutions IPO Review
OnEMI Technology Solutions Ltd. is in a prominent position in the growing fintech and digital lending industry in India. By providing financial solutions to the emerging middle class, which is digitally savvy and in need of instant financial solutions, OnEMI is filling a critical gap in the financial industry. OnEMI’s model is unique in that it is highly scalable without relying on its balance sheet.
The company has reported a profitable and growing financial sheet for the upcoming FY25, as the company reported robust operating revenues of ₹1,337.46 crore and a PAT of ₹160.62 crore. Furthermore, the company’s proprietary algorithms have also been successful in maintaining the asset quality in the unsecured lending business.
However, investors must also be cautious of industry-specific risks, such as the company’s reliance on unsecured personal loans and changing regulations by the RBI on digital lending. OnEMI Technology Solutions IPO is a mature fintech company that seeks to strengthen its capital base for the next round of credit growth.
Conclusion
OnEMI Technology Solutions IPO is an opportunity for investors to invest in a growing company that has a strong foundation in the Kissht and Ring platforms, aligning it well with India's ongoing digital financial inclusion narrative. The management shows a strong commitment to long-term success by keeping high-quality assets through AI-driven underwriting and using a strategy that can easily attract more customers.
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Competitive Strengths
Advanced, proprietary AI-powered risk management and fast credit underwriting models
A huge and growing base of registered users and active customers in India.
A scalable business model with a mix of an in-house NBFC and partner-led loan deployments
An accomplished founding team with support from marquee institutional investors
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 87 | 14877 |
| Individual investors (Retail) (Max) | 13 | 1131 | 193401 |
| S-HNI (Min) | 14 | 1218 | 208278 |
| S-HNI (Max) | 67 | 5829 | 996759 |
| B-HNI (Min) | 68 | 5916 | 1011636 |