Kissht IPO: Sachin Tendulkar as investor to make losses from OnEMI Technology issue?

Kissht IPO: OnEMI Technology, which is set to launch its initial public offering (IPO) on April 30, is backed by names like Temasek and master blaster Sachin Ramesh Tendulkar. The legendary cricketer is likely to sit on losses on his investment in the company, considering the IPO price and his cost of acquisition of its equity shares.

OmEMI Technology Solutions, which operates digital platforms likes Kissht and Ring, is set to raise a total of Rs 926 crore via IPO, selling its shares of Rs 162-171 apeice, with a lot size of 87 equity shares. The three-day bidding for the issue shall conclude on Tuesday, May 05. The issue includes a fresh share sale of Rs 850 and OFS of up to 44.4 lakh equity shares from select investors.

In 2025, Sachin Ramesh Tendulkar acquired 53,778 Series Z4 Compulsorily Convertible Preference Shares (CCPS) in OnEMI Technology Solutions at Rs 2,232 per share (face value Rs 10) through private placement, said the red herring prospectus (RHP) filed by the company. The purchase was made in three equal tranches of 17,926 CCPS in February 2025 and two in June 2025.

Sachin Tendulkar owned 5,37,780 equity shares in the company, as of February 26, 2026, post stock split and his effective buy price turned to be Rs 223.2 apeice. At the current valuations, his stake is valued at Rs 12 crore but as of upper end of the IPO price, hit stake is valued at Rs 9.20 crore, signaling a notional loss of Rs 2.8 crore.

In an official response to Business Today, OnEMI Technology Solutions said that Sachin Tendulkar holds an aggregate shareholding of 0.42 per cent in the company. His investment reflects his association with the company and he is also engaged with us as a brand ambassador, supporting our efforts to build a trusted and consumer-focused platform.

"With respect to the investment price and specific transaction details, we would like to note that the Company has made all relevant disclosures in its offer-related documents that are available in the public domain. We are not in a position to provide any additional details beyond what has already been disclosed. We remain focused on building a disciplined and scalable business," it said.

One should note that, the cost of acquisition of Sachin Ramesh Tendulkar is highest among all the shareholders disclosed in the RHP of the company. Selling shareholders will make up to 11 times profit based on their cost of acquisition, and promoters will make up to 162 times return based on their cost of acquisition.

For the nine months ended on December 31, 2025, OnEMI Technology Solutions reported a net profit of Rs 199.27 crore, with a revenue of Rs 1,583.93 crore. The company currently commands a total market capitalization of Rs 2,881.06 crore. Last heard, OnEMI Technology was commanding a grey market premium of Rs 7-8 per share, suggesting a 4-5 per listing pop for investors.