OnEMI Tech makes firm debut, lists at 11% premium

The company raised Rs 925 crore. Of the total float, Rs 850 crore was raised via the issuance of 4.97 crore fresh equity shares of Re 1 each, while promoters and selling shareholders offloaded 44 lakh shares worth Rs 75.92 crore through the Offer for Sale route. The offer was opened for bidding on April 30 and closed on May 05.

OnEMI Technology IPO: Subscription details

The IPO has received overall bids for 37.76 crore shares against its offer of 3.79 crore shares. This translates into an overall subscription of 9.96 times.

The Qualified Institutional Buyers (QIBs) segment led the pack, subscribing to the issue 26 times.

While the Non-Institutional Investors category has been subscribed to 7 times, the retail investor segment received a subscription of 2x.

OnEMI Technology IPO: Book runner and registrar

The lender’s issue is being managed by JM Financial, HSBC Securities, Nuvama Wealth Management, and SBI Capital Markets. The registrar of the issue is Centrum Capital.

OnEMI Technology IPO: Issue size

The company said it raised Rs 277.78 crore from anchor bidding ahead of its opening. According to its press release, OnEMI Tech allocated 1.62 crore equity shares at Rs 171, which is the upper end of its price band.

About OnEMI Technology

OnEMI Technology Solutions is a technology-enabled lender in India, primarily offering digital loans through its mobile application for various consumption and business needs.

Incorporated in 2016, the company operates under the brand names Kissht (digital lending platform) and Ring (payments app). OnEMI empowers online and offline merchants with seamless consumer credit solutions and EMI-based payments. Its NBFC partner, Si Creva Capital Services, handles loan disbursement, KYC, and EMI collections.