OnEMI Technology Solutions Limited, the fintech company operating the popular digital lending platform Kissht, has launched its much-awaited initial public offering (IPO).

The IPO is a Book Built Issue aggregating to approximately ₹925.92 crore.

The issue consists of:

• Fresh Issue: 4.97 crore shares worth ₹850 crore
• Offer For Sale (OFS): 0.44 crore shares worth ₹75.92 crore

The IPO subscription window opened on April 30, 2026, and will close on May 05, 2026.

The company’s shares are proposed to be listed on both:

• BSE
• NSE

with a tentative listing date of May 08, 2026.

About OnEMI Technology Solutions

OnEMI Technology Solutions Limited operates in India’s rapidly growing digital lending and fintech sector.

The company is best known for its fintech platform:

• Kissht
• Pay with Ring

These platforms mainly target India’s mass-market consumers by offering quick and accessible credit solutions.

The company provides several financial products including:

• Personal loans
• Loan Against Property (LAP)
• Instant EMI financing
• Consumer credit solutions

Its business model focuses on technology-driven lending and financial inclusion.

How The Company Earns Revenue

OnEMI Technology Solutions generates revenue through multiple streams within the fintech ecosystem.

Major revenue sources include:

• Interest income
• Loan origination fees
• Customer acquisition services
• Fintech partnerships with lenders
• EMI financing services

The company works with financial institutions and lending partners to expand access to digital credit for consumers across India.

OnEMI IPO Price Band Details

The company has fixed the IPO price band at:

• ₹162 to ₹171 per equity share

At the upper price band of ₹171, the estimated market capitalisation of the company after listing will be approximately:

₹2,881.06 crore

The valuation has attracted attention from investors tracking India’s expanding fintech and consumer lending sector.

IPO Lot Size And Investment Details

The minimum IPO lot size has been fixed at:

• 87 shares per lot

Retail investors need a minimum investment of:

₹14,877

for one lot at the upper price band.

For High Net-Worth Individuals (HNIs), the minimum investment requirement is:

• 14 lots
• 1,218 shares

requiring an investment of approximately:

₹2,08,278

IPO Timeline And Important Dates

The major dates for the OnEMI Technology Solutions IPO are:

Investors are closely monitoring subscription trends during the IPO period.

Lead Managers And Registrar

Several leading investment banking and financial institutions are managing the IPO process.

The Book Running Lead Managers (BRLMs) are:

• JM Financial Limited
• HSBC Securities and Capital Markets (India) Pvt. Ltd.
• Nuvama Wealth Management Limited
• SBI Capital Markets Limited
• Centrum Broking Limited

The registrar for the IPO is:

KFin Technologies Limited

Grey Market Premium (GMP) Update

According to available market information, the Grey Market Premium (GMP) for the IPO is currently estimated at:

₹0

This suggests neutral unofficial market sentiment ahead of listing.

However, market experts repeatedly caution that:

• GMP is unofficial
• No regulated trading occurs in the grey market
• GMP does not guarantee listing performance

The GMP mainly reflects temporary demand and supply trends in the unorganised market.

What Is Kissht?

Kissht is one of India’s recognised digital lending and EMI financing platforms.

The platform focuses on providing:

• Fast digital loan approvals
• Consumer financing
• EMI-based purchasing options
• Credit accessibility for underserved consumers

The fintech platform uses technology and digital verification systems to simplify lending processes for customers.

Growth Of India’s Digital Lending Sector

India’s fintech and digital lending industry has witnessed rapid expansion in recent years.

Factors driving growth include:

• Smartphone penetration
• Digital payments adoption
• Rising e-commerce usage
• Increased demand for consumer credit
• Expansion of fintech ecosystems

Companies like OnEMI Technology Solutions are benefiting from growing digital financial adoption among young and middle-income consumers.

Competition In Fintech Sector

The company operates in a highly competitive fintech environment.

Major competition comes from:

• Digital lending apps
• NBFCs
• Banks
• Buy Now Pay Later (BNPL) platforms
• Consumer finance startups

Maintaining customer growth and credit quality remains crucial for long-term success.

Risks Associated With Digital Lending

Like other fintech companies, OnEMI Technology Solutions also faces several business risks.

These include:

• Loan defaults
• Regulatory changes
• Rising competition
• Funding costs
• Data security concerns

The Reserve Bank of India (RBI) has also increased regulatory focus on digital lending practices in recent years.

Investors Watching Financial Performance

Investors evaluating the IPO are closely analysing the company’s:

• Revenue growth
• Loan book quality
• Customer acquisition
• Profitability trends
• Asset quality

The fintech sector often attracts strong investor interest due to its high-growth potential, though profitability remains a key focus area.

IPO Market Remains Active In India

India’s IPO market continues witnessing strong activity across sectors including:

• Fintech
• Technology
• Manufacturing
• Consumer businesses
• Renewable energy

Digital-first businesses continue to attract investor attention due to changing consumer behaviour and increasing internet penetration.

Importance Of Financial Inclusion

One of the major themes supporting digital lending businesses is financial inclusion.

Fintech companies help provide credit access to consumers who may face challenges obtaining loans through traditional banking channels.

Technology-based lending solutions have become increasingly important in expanding financial services to underserved populations.

Analysts Cautious On Valuation

Market analysts often evaluate fintech IPOs carefully due to the balance between growth and profitability.

Investors generally examine:

• Scalability of business model
• Customer retention
• Loan repayment trends
• Regulatory compliance

Valuation expectations can significantly impact post-listing performance.

Technology Driving Lending Transformation

The rise of fintech companies like OnEMI Technology Solutions reflects broader transformation in India’s financial services industry.

Digital platforms now increasingly use:

• Artificial intelligence
• Automated underwriting
• Digital KYC systems
• Data analytics

to improve loan processing and customer experience.

Retail Investor Interest Expected

Fintech IPOs often attract significant participation from retail investors due to growing familiarity with digital financial platforms.

Investors tracking the IPO market are expected to closely watch:

• Subscription levels
• Institutional demand
• Listing gains
• Long-term growth potential

Listing Performance To Be Watched

The stock market listing performance of OnEMI Technology Solutions will depend on multiple factors including:

• Overall market conditions
• Investor sentiment
• Subscription response
• Sector outlook

The current GMP indicates cautious market expectations ahead of listing.

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