OnEMI Technology Solutions IPO 2026: Price Band, Dates

What is happening with the Kissht IPO

OnEMI Technology Solutions Ltd, the company behind the digital lending platform Kissht, is opening its mainboard IPO for subscription on April 30, 2026. The issue closes on May 5, 2026, with allotment expected on May 6 and listing slated for May 8 on BSE and NSE. The IPO is priced in a band of ₹162 to ₹171 per share and is structured as a book-built issue. The total issue size is stated as ₹925.92 crore, and multiple reports also refer to it as a ₹926 crore issue due to rounding. The offering includes a fresh issue component and an offer for sale (OFS) by existing shareholders. Ahead of the opening, the company mobilised ₹278 crore from anchor investors, indicating institutional participation at the upper end of the price band.

IPO dates, price band, and key milestones

The subscription window runs from April 30 to May 5, 2026. Anchor investor bidding took place on April 29, 2026, just ahead of the public issue. The allotment is expected to be finalised on May 6, 2026. Several disclosures also mention demat credit and refunds for non-allottees on May 7, 2026. The shares are expected to list on May 8, 2026 on BSE and NSE. The issue is being brought to market after the company filed its red herring prospectus (RHP) with SEBI on April 25, 2026, following earlier draft filing and regulatory clearance timelines mentioned in the sources.

Issue size and structure: fresh issue and OFS

The OnEMI Technology Solutions IPO is a book-built issue of ₹925.92 crore. It consists of a fresh issue aggregating to ₹850 crore and an OFS aggregating to ₹75.92 crore. In share terms, the fresh issue is up to 4,97,07,602 equity shares, while the OFS is up to 44,39,788 equity shares. The overall issue size is reported as up to 5,41,47,390 equity shares. The face value is ₹1 per share.

How much retail investors need to apply

The lot size is 87 equity shares. At the upper price band of ₹171, the minimum retail application works out to ₹14,877 for one lot, which matches the minimum investment disclosed. The maximum retail investment is listed as ₹1,93,401 at the upper band (13 lots). For non-institutional categories, the application sizes cited include 14 lots (₹2,08,278) for small NIIs and 68 lots (₹10,11,636) for big NIIs, based on the upper band. These figures help applicants evaluate capital commitment before bidding.

Anchor investors and allocation details

OnEMI Technology said it raised ₹278 crore from anchor investors ahead of the IPO. According to the disclosure referenced, 1.62 crore equity shares were allocated at ₹171 per share, translating to a transaction size of ₹277.77 crore. The anchor book included domestic mutual funds and global investors such as HDFC Mutual Fund, ICICI Prudential Mutual Fund, Ashoka India Equity Investment Trust, WhiteOak Capital, Bandhan MF, Quant MF, Goldman Sachs, BNP Paribas, and Citigroup, among others. Domestic mutual funds accounted for 57% of the anchor allocation, with shares worth ₹158.3 crore allotted across 13 schemes of seven fund houses. Separately, promoters Ranvir Singh and Krishnan Vishwanathan were reported to have invested ₹40 crore in the company at a premium ahead of listing, at the ₹171 level.

Where the fresh issue proceeds will be used

The company has stated that proceeds from the fresh issue will be used to augment the capital base of its subsidiary, Si Creva, to meet future funding requirements. Another disclosure quantifies this: ₹637.5 crore from the fresh issue is intended for augmenting the capital base of Si Creva to meet future capital requirements arising out of business growth. The remainder is earmarked for general corporate purposes. These uses align with the company’s positioning as a digital lending platform where regulated lending entities and capital adequacy are central operating needs.

Company context: platform and reported operating metrics

OnEMI Technology Solutions operates the Kissht digital lending app and is also associated with the Ring payments platform. One source cites 63.73 million registered users and assets under management (AUM) of ₹5,955.75 crore as of December 31, 2025. The company offers financing products such as personal loans and loans against property (LAP), as referenced in the material. While investors often look for growth and unit economics in fintech offerings, the publicly stated IPO documentation in the provided text focuses mainly on the offer structure, participation details, and intended use of funds.

Valuation, GMP, and what the unofficial market is indicating

At the upper end of the price band, the company is valued at about ₹2,881 crore, and another report describes the valuation as nearly ₹2,900 crore. The grey market premium (GMP) cited as of April 29, 2026 was around ₹6 per share, implying an expected listing price near ₹177 and a potential gain of roughly 3.5%. Another mention puts the GMP range at ₹6 to ₹7, or about 4%. These are unofficial indicators and can change quickly, but they provide a snapshot of sentiment ahead of listing.

Shareholder selling and who is participating in the OFS

The OFS portion includes sales by existing shareholders, with names listed such as Ammar Sdn Bhd Investor, Vertex Ventures SEA Fund III Pte. Ltd., Vertex Growth Fund Pte. Ltd., Vertex Growth Fund II Pte. Ltd., Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, and AION Advisory Services LLP, among others. The OFS is up to 44.39 lakh shares and is described as being worth about ₹75.92 crore (about ₹76 crore at the upper band). One disclosure also notes Ammar Sdn Bhd is selling 11.5 lakh shares worth ₹19.77 crore at the upper end.

Key IPO facts at a glance

Lead managers and registrar

The book-running lead managers named for the issue are JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking. KFin Technologies Ltd is the registrar. These intermediaries will handle the book-building process, allocation workflow, and investor servicing through the IPO lifecycle.

What to track next

With the IPO opening on April 30, the next key events are subscription trends through May 5, the finalisation of allotment on May 6, and the expected listing on May 8. Investors will also monitor how the issue prices within the ₹162 to ₹171 band and whether the anchor participation translates into broader demand across categories. For applicants, the most practical checkpoints are the cut-off price decision, category-wise quota limits, and the final allotment outcome before listing on BSE and NSE.