OnEMI Technology IPO will open on April 30 with an issue size of Rs 925 crore and price band of Rs 162–171 per share. Check key dates, lot size, allotment timeline, and full details.

OnEMI Technology IPO to open April 30: Check price band, objectives of Rs 925 crore issue

The IPO is a book-build issue comprising fresh equity worth Rs 850 crore, while the company’s investors will offload equity worth Rs 75 crore via the offer for sale route.

Here are the major details you need to know about the IPO

OnEMI Technology IPO: Issue Size and BRLMs

The company will issue over 4.97 crore fresh equity shares, with a face value of Rs 1 each amounting to Rs 850 crore, while investors will offload over 44 lakh shares aggregating to Rs 75.92 crore. This brings the total issue size at Rs 925.92 crore.

The IPO is being handled by JM Financial, HSBC Securities and Capital Market (India), Nuvama Wealth Management, and SBI Capital Markets. Centrum Capital is the registrar to the offer.

OnEMI Technology IPO: Key Dates

Kissht parent company, OnEMI Tech will open its IPO for public bidding on Thursday, April 30, and bid for three days with the IPO closing its bidding on Tuesday, May 1. Investors should note that stock exchanges will be closed on Friday, May 1 in observance of Maharashtra Day so no bidding will take place on that day.

The share allotment is expected to be finalized just a day after bidding closure, i.e. on Wednesday, May 6. Investors will receive their shares and requisite refunds on Thursday, May 7, and the company is expected to list on bourses by Friday, May 8.

OnEMI Technology IPO: Lot Size

Retail applicants are required to bid for a minimum of one lot comprising 87 shares amounting to Rs 14,887 (based on the upper price). While small non-institutional investors may bid in lots of 14 aggregating to Rs 2,08,278.

For Big non-institutional investors the lot size stands at 68, valued at Rs 10,11,636.

OnEMI Technology IPO: Utilization of funds

According to the company’s DRHP, it will utilize the majority of its fresh proceeds towards funding the growth of its subsidiary. Of the total fresh float, Rs 750 crore will be deployed to meet the capital requirements of its subsidiary, Si Creva’s business.

While the remaining amount will be deployed towards general corporate purposes.