OnEMI Technology IPO Day 3 LIVE: GMP, subscription status, price band to review. Apply or not?

OnEMI Technology Solutions IPO Day 3 LIVE: The initial public offering (IPO) of OnEMI Technology Solutions Ltd opened on 30 April 2026, and it will remain open for bidding until 5 May 2026. So, bidders have just one day to submit their applications for the book build issue. The company has declared the OnEMI Technology Solutions IPO price band at ₹162 to ₹171 per share. The company aims to raise ₹926 crore through its initial public offering. Of these, ₹926 crore, the company aims to raise ₹850 crore through the issuance of fresh shares, while the remaining ₹76 crore is reserved for the offer-for-sale (OFS) route. JM Financial Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue.

OnEMI Technology Solutions IPO GMP today

According to market observers, the company's shares are trading at a premium of ₹2 in the grey market today. This means OnEMI Technology Solutions IPO GMP today is ₹2.

OnEMI Technology Solutions IPO subscription status

After the end of bidding on day 2, the public issue was subscribed 0.60 times, the retail portion was booked 0.16 times, the NII segment was filled 0.50 times, while the QIB segment was booked 1.45 times.

OnEMI Technology Solutions IPO review

Assigning a ‘subscribe’ tag to the public issue, Anand Rathi says, "At the upper price band, the company is valued at 1.4x FY25 P/B, implying a post-issue market capitalisation of ₹28,810 million. Approximately 94% of its loan book is unsecured, reflecting a higher-risk lending profile. With evolving consumer lifestyles, the company has successfully scaled its digital loan distribution and is well-positioned to benefit from future growth opportunities. It has built a user base of 53 million, supported by a proven platform and significant headroom in India’s underpenetrated credit market. Considering these factors, the IPO appears fairly valued and is recommended as “Subscribe – Long Term.”

Choice Broking has also assigned a ‘buy’ tag to the book build issue, saying, "Given its technology-driven business model, expanding customer base, and growth trajectory, we believe the company is well-positioned for the future. Accordingly, we assign a “SUBSCRIBE” rating for this issue."

Adroit Financial Services, Arihant Capital Markets, Equivision, BP Equities, Geojit Investments, HDFC Securities, Hem Securities, Marwadi Shares & Finance, and Ventura Securities have also assigned an ‘apply’ tag to the public issue.