OnEMI Technology IPO sees muted demand, fully booked on Day 3; GMP flat

OnEMI Technology IPO comprises a combination of fresh issue of 49.7 million equity shares amounting to ₹850 crore and an OFS of 4.4 million equity shares amounting to ₹75.92 crore

OnEMI Technology IPO

SI Reporter New Delhi

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OnEMI Technology IPO subscription status Day 3: OnEMI Technology has received a lacklustre response from investors for its initial public offering (IPO), which opened for public subscription on Thursday, April 30, 2026. According to data from the National Stock Exchange (NSE), the public issue was subscribed to only 1.04 times as of 12:50 PM on Tuesday, May 5, 2026.

The three-day subscription window for the IPO closes today. So far, the issue has received bids for 41.43 million shares against 39.76 million shares on offer. Demand has been strongest in the qualified institutional buyers (QIBs) segment, which has been subscribed to 2.35 times. In contrast, non-institutional investors (NIIs) and retail investors have subscribed 1.14 times and 26 per cent, respectively, of their reserved quotas. OnEMI Technology is a fintech company operating the digital lending platform Kissht. It primarily offers digital loans through its mobile application for various consumption and business needs.

OnEMI Technology IPO GMP

Muted investor sentiment was also reflected in the grey market. According to sources tracking unofficial market activity, OnEMI’s unlisted shares were trading almost flat at ₹172 per share, implying a marginal grey market premium of ₹1, or 0.58 per cent, over the upper end of the IPO price band of ₹171.

OnEMI IPO details

The IPO comprises a combination of fresh issue of 49.7 million equity shares amounting to ₹850 crore and an offer for sale (OFS) of 4.4 million equity shares amounting to ₹75.92 crore.

Under the OFS, Ammar Sdn Bhd, Vertex Growth Fund Pte Ltd, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, AION Advisory Services LLP, VenturEast Proactive Fund LLC, VenturEast SEDCO Proactive Fund LLC and Ventureast Proactive Fund will divest a part of their stake.

The issue is priced in the range of ₹162-171 per share, with a lot size of 87 shares. At the upper end of the price band, retail investors need to invest a minimum of ₹14,877 for one lot, while a maximum application of 13 lots (1,131 shares) requires ₹1,93,401.

Kfin Technologies is the registrar for the issue. JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers.

OnEMI Technology IPO allotment date, listing date

With the issue closing today, the basis of allotment is expected to be finalised on Wednesday, May 6, 2026. Shares are likely to be credited to successful applicants’ demat accounts by Thursday, May 7, 2026. The stock is scheduled to list on the NSE and BSE tentatively on Friday, May 8, 2026.

OnEMI Technology IPO objectives

According to the red herring prospectus (RHP), the company aims to utilise ₹637 crore from the net fresh issue proceeds for augmenting the capital base of Subsidiary, Si Creva, to meet its future capital requirements. The remaining funds will be used for general corporate purposes.

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First Published: May 05 2026 | 1:03 PM IST