OnEMI Technology Solutions Limited, the fintech company behind digital lending platform Kissht, launched its much-awaited IPO to raise approximately ₹925.92 crore through a combination of fresh issue and offer for sale.

The IPO has attracted market attention due to the company’s growing presence in India’s digital lending and fintech ecosystem.

The issue is structured as a Book Built Issue and is proposed to be listed on the BSE.

IPO Structure And Issue Size

The IPO consists of:

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

The total IPO size stands at:

• ₹925.92 crore

The fresh issue proceeds are expected to support the company’s business expansion and operational requirements.

IPO Subscription And Listing Dates

Important Dates

• IPO Opening Date: April 30, 2026
• IPO Closing Date: May 05, 2026
• Allotment Date: Expected on May 06, 2026
• Tentative Listing Date: May 08, 2026

The shares are scheduled to list on the BSE.

IPO Price Band

The company fixed the IPO price band at:

• ₹162 to ₹171 per equity share

At the upper price band of ₹171, the estimated market capitalization of the company is approximately:

• ₹2,881.06 crore

The valuation reflects investor interest in India’s expanding fintech and digital lending sectors.

Lot Size And Investment Requirement

The IPO lot size was fixed at:

• 87 shares per lot

Retail Investor Minimum Investment

Retail investors are required to invest:

• Minimum 1 lot
• Total investment: ₹14,877

HNI Minimum Investment

High-Net-Worth Individuals (HNIs) must apply for:

• Minimum 14 lots
• Total shares: 1,218
• Minimum investment: ₹2,08,278

The lower retail application size may encourage broader investor participation.

About OnEMI Technology Solutions Limited

OnEMI Technology Solutions Limited operates a digital lending platform focused primarily on India’s mass-market consumers.

The company offers financial products through platforms including:

• Kissht
• Pay with Ring

Its services are designed to provide easy and fast credit access through digital channels.

Key Products And Services

The company provides multiple lending and financing solutions including:

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

These products target customers seeking digital and quick-access credit services.

Revenue Model Of The Company

The company generates revenue through various fintech-related channels including:

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

Its platform-based business model enables collaboration with financial institutions and lending partners.

Growth Of Digital Lending In India

India’s digital lending industry has grown rapidly due to:

• Smartphone penetration
• Internet accessibility
• Rising fintech adoption
• Demand for quick credit access

Fintech platforms are increasingly serving customers who prefer app-based financial solutions over traditional banking processes.

Kissht Platform Overview

Kissht is one of the company’s flagship digital lending platforms.

The app provides users with:

• Instant credit approval
• EMI-based purchasing options
• Short-term personal loans
• Consumer finance solutions

The platform focuses on convenience and faster loan processing through digital verification systems.

Pay With Ring Platform

The company also operates Pay with Ring, which supports digital payment and credit-linked financial services.

The platform is designed to improve accessibility and user convenience in everyday financial transactions.

Fintech Sector Attracting Investor Interest

The fintech industry remains one of the fastest-growing sectors in India.

Investors continue monitoring companies involved in:

• Digital lending
• Online payments
• Financial technology
• Consumer finance

Rapid digitization and financial inclusion initiatives have accelerated growth opportunities in this sector.

Role Of Lead Managers

The IPO is managed by multiple book-running lead managers including:

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

The registrar for the issue is:

• KFin Technologies Limited

These institutions handle IPO management, investor coordination, and allotment processes.

Grey Market Premium (GMP) Status

The Grey Market Premium (GMP) of the IPO was reported at:

• ₹0

The flat GMP suggests neutral unofficial market sentiment before listing.

However, GMP remains unofficial and speculative in nature.

Understanding Grey Market Premium

Grey Market Premium refers to the unofficial premium at which IPO shares trade before official listing.

It is based on:

• Investor demand
• Market expectations
• Supply conditions

However:

• GMP is not regulated
• It does not guarantee listing performance
• It should not be considered a confirmed valuation indicator

Investors are generally advised to focus on company fundamentals.

Digital Lending Market Potential

India’s digital lending market is expected to continue expanding due to:

• Growing consumer credit demand
• Financial inclusion initiatives
• Technology-driven lending systems
• Rising online commerce

Fintech firms are increasingly using technology and data analytics to streamline loan approvals and risk assessment.

Competition In Fintech Space

The company operates in a highly competitive market involving:

• NBFCs
• Banks
• Fintech startups
• Digital payment platforms

Competition remains intense in areas such as:

• Customer acquisition
• Interest rates
• User experience
• Technology integration

Regulatory Environment

Digital lending companies in India operate under evolving regulatory frameworks governed by:

• Reserve Bank of India (RBI)
• Financial compliance standards
• Data privacy requirements

Regulatory developments can significantly influence fintech business operations.

Risks Associated With Digital Lending

Fintech lending businesses face risks related to:

• Credit defaults
• Regulatory changes
• Technology disruptions
• Cybersecurity concerns
• Funding costs

Loan repayment performance remains a key factor in business sustainability.

Technology-Driven Financial Inclusion

Platforms like Kissht contribute to financial inclusion by providing credit access to users who may not have easy access to traditional banking channels.

Digital lending solutions support:

• Faster approvals
• Paperless applications
• Flexible repayment options

This model has gained popularity among younger consumers and digitally active users.

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