OnEMI Technology Shares Set for Strong Debut Today as GMP Indicates One of the Most Promising Listings in Recent History!
Shares of OnEMI Technology Solutions, the parent company of the digital lending platform Kissht, are anticipated to debut on the stock market this Friday, with promising indications from the grey market suggesting a robust listing. Currently, the shares reflect a grey market premium (GMP) of 16%, forecasting an opening price of approximately Rs 198–199 compared to the set issue price of Rs 171 per share. If this trend holds, investors could potentially realize listing gains of Rs 27-28 per share. Furthermore, OnEMI successfully raised Rs 926 crore during its IPO, which was open for subscription from April 30 to May 5 and garnered impressive demand, with an overall subscription rate of 9.96 times on the final day.
The IPO drew significant interest from institutional investors, with the Qualified Institutional Buyer (QIB) segment—excluding anchor subscriptions—seeing a staggering subscription rate of 25.97 times. Non-institutional and retail investor participation was notably strong as well, recording subscription rates of 6.91 times and 2.13 times, respectively, translating to over 1.53 lakh applications received. In preparation for the IPO, OnEMI had secured Rs 277.78 crore from anchor investors, allotting 1.62 crore shares at the fixed issue price of Rs 171. The public offering of Rs 926 crore included a fresh issue of Rs 850 crore and an offer for sale amounting to Rs 76 crore, enhancing the company’s capital structure considerably.
Founded in 2016, OnEMI Technology Solutions has established itself in the digital lending landscape, operating under the Kissht and Ring brands. As of December 31, 2025, the company reported 63.73 million registered users, with total assets under management standing at Rs 5,956 crore. Financially, OnEMI recorded total income of Rs 1,583.9 crore along with a profit after tax of Rs 199.3 crore for the nine months ending December 2025. For FY25, notable figures included revenue of Rs 1,352.7 crore and a profit of Rs 160.6 crore. With a post-issue P/E ratio of 10.84 and an implied market capitalization of Rs 2,881 crore at the upper issue price, the company’s IPO proceeds are strategically allocated to fortifying the capital base of its NBFC subsidiary, Si Creva Capital Services, to drive future loan growth. Market participants will closely monitor this listing to assess if it meets its expected debut day performance amidst strong institutional demand and a favorable operational history.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova team.)