OnEMI Technology IPO: Price band Rs 162-171, GMP up 2% -Check key dates, expert view

The company’s CEO, Ranvir Singh in an interview with FE also asserted confidence over the fund raising adding that he believes the investor demand remains decent despite the heat of the West Asia conflict.

The lending startup via the issuance of fresh equity aims to fund the capital requirements business, Si Creva. Here are the five things you should know about the offer.

OnEMI Technology IPO: Issue Size and BRLM

The total issue size stands at Rs 925.92 crore, of which Rs 850 crore will be raised via the issuance of 4.97 crore fresh equity shares of Re 1 each, while over 44 lakh shares aggregating to Rs 75.92 crore will be raised by investors through the offer for sale route.

The book running lead managers for the issue are JM Financial, HSBC Securities and Capital Market (India), Nuvama Wealth Management, and SBI Capital Markets, while Centrum Capital is the registrar to the offer.

OnEMI Technology IPO: Key dates

The IPO which was opened for public bidding today will bid for three days and close on Tuesday, May 5. Investors won’t be able to bid tomorrow i.e. on May 1 over the closure of stock market in observance of the Maharashtra Day.

This will be followed by the usual weekend closure of BSE and NSE. Bidding will then resume on Monday May 4. Share allotment will be finalised on May 6, and investors will receive the shares in their demat accounts on May 7. The refund process is also likely to be completed by the latter date.

The company is expected to list on NSE and BSE by Friday, May 8.

OnEMI Technology IPO: GMP up over 2%

As per the current data, the shares of OnEMI Tech are trading in the unlisted markets at a grey market premium of 2.63%, or Rs 4.5 on the upper end of the price band. This translates into an estimated listing price of Rs 175.5.

However, it is important to note that gmp is an unofficial metric to determine the listing price and fluctuates based on market mood and sentiment.

OnEMI Technology IPO: Lot size

Retail applicants can bid for a minimum of one lot comprising 87 shares equating to Rs 14,887 (based on upper end of the price band), while the maximum they can bid for is13 lots. For small institutional investors (sNII) can bid for minimum of 14 lots aggregating to Rs 2,08,278, and maximum of 67 lots.

Big non-institutional investors can bid for a minimum of 68 lots valued at Rs 10,11,636.

OnEMI Technology IPO: Expert Take

Brokerage firm Anand Rathi Research Team, has said that the IPO appears fairly valued and has recommended it as “Subscribe- Long Term”, stating these factors,

“At the upper price band, the company is valued at 1.4x FY25 P/B, implying a post-issue market capitalization of Rs 28,810 million.”

The brokerage said 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.”