Kissht Parent OnEMI Technology IPO GMP Indicates Modest Listing Pop Ahead Of April 30 Debut

OnEMI Technology Solutions, the parent company of Kissht, is set to launch an initial public offering (IPO) to raise over Rs 900 crore from the primary market. The company provides financing solutions such as personal loans and Loans Against Property (LAP). Ahead of its listing, the grey market premium (GMP) indicated a premium of over 4% for the issue.

Investors who want to bid for shares in the IPO must check the following details before making an investment call.

OnEMI Technology IPO GMP Today

According to InvestorGain, the GMP for the OnEMI Technology IPO stood at Rs 7.5 on April 28. It indicates a listing price of Rs 178.5 apiece at a premium of 4.39% on the upper limit of the price band.

Note: GMP does not represent official data and is based on speculation.

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OnEMI Technology IPO: Key Details

The OnEMI Technology IPO is a book build issue of Rs 925.92 crore. It comprises a fresh issue of 4.97 crore shares worth Rs 850 crore and an offer-for-sale (OFS) of 44 lakh shares amounting to Rs 75.92 crore.

To participate in the IPO, retail investors need to bid for a single lot size of 87 shares, requiring an investment of Rs 14,877. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,08,278. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,11,636.

The price band for the IPO is set between Rs 162 and Rs 171 per share.

Subscription window for the IPO will be open from April 30 to May 5, with the allotment expected to be finalised on May 6. The company will transfer shares to the demat accounts of successful bidders on May 7 and refunds for non-allottees will be done on the same day.

The shares of the company are scheduled to list on the BSE and NSE on May 8.

Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the offer. Retail investors will be allocated a minimum of 35% of the issue and at least 15% will be reserved for Non-Institutional Investors.

JM Financial Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.

Use Of Proceeds

The company will use proceeds from the IPO to augment the capital base of its subsidiary and for general corporate purposes.

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About OnEMI Technology

OnEMI Technology Solutions is a digital lending platform that offers a wide range of loan products. Its brands include Kissht and PaywithRING.

Financials

The company reported a 20.44% year-on-year (YoY) decline in total income to Rs 1,352.7 crore in FY25 from Rs 1,700.3 crore in FY24. Profit after tax (PAT) fell 18.6% YoY to Rs 160.6 crore in FY25 from Rs 197.3 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.