₹925.92 Crore OnEMI IPO Opens for Subscription With ₹162–₹171 Price Band
The ₹925.92 crore IPO of OnEMI Technology Solutions Limited will open for subscription from April 30 to May 5, 2026, with a price band fixed at ₹162–₹171 per share, according to the company’s DRHP filed with SEBI.
The issue comprises a fresh issue of ₹850 crore and an offer for sale (OFS) of ₹75.92 crore. The IPO is scheduled to list on BSE and NSE on May 8, 2026.
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Retail investors can apply for a minimum of 87 shares, requiring an investment of ₹14,877 at the upper price band.
| Particulars | Details |
|---|---|
| IPO Date | April 30 – May 5, 2026 |
| Listing Date | May 8, 2026 (Tentative) |
| Face Value | ₹1 per share |
| Price Band | ₹162 – ₹171 |
| Lot Size | 87 shares |
| Issue Type | Bookbuilding IPO |
| Sale Type | Fresh Issue + OFS |
| Total Issue Size | ₹925.92 crore |
| Fresh Issue | ₹850 crore |
| Offer for Sale | ₹75.92 crore |
| Listing At | NSE, BSE |
| Registrar | Kfin Technologies Ltd. |
| Lead Manager | JM Financial Ltd. |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Open | April 30, 2026 |
| IPO Close | May 5, 2026 |
| Allotment | May 6, 2026 |
| Refund Initiation | May 7, 2026 |
| Credit of Shares | May 7, 2026 |
| Listing Date | May 8, 2026 |
GMP at ₹4 Suggests Limited Listing Gains; Estimated Price Seen Near ₹175
As of April 29, 2026, the grey market premium (GMP) for the IPO stands at ₹4, implying an estimated listing price of ₹175—about 2.34% above the issue’s upper band.
Data compiled from IPO tracking platforms such as Chittorgarh indicates that GMP has remained in a narrow range of ₹0–₹7.5 over the last four sessions, reflecting controlled demand rather than aggressive speculative activity.
At the current GMP, the estimated gain per retail lot stands at approximately ₹348, highlighting modest short-term upside.
IPO Grey Market Premium (GMP) Trend
| Date | IPO Price | GMP | Estimated Listing Price | Estimated Gain |
|---|---|---|---|---|
| Apr 29, 2026 | ₹171 | ₹4 ─ | ₹175 | ₹348 |
| Apr 28, 2026 | ₹171 | ₹4 ▼ | ₹175 | ₹348 |
| Apr 27, 2026 | ₹171 | ₹7.5 ▲ | ₹178.5 | ₹652 |
| Apr 26, 2026 | ₹171 | ₹0 ─ | — | — |
Business Scale, User Base and AUM Highlight Company’s Lending Footprint
Founded in 2016, OnEMI operates digital lending platforms Kissht and Ring, offering consumer and MSME credit solutions through a mobile-first ecosystem.
Key operating metrics as per company filings include:
- 63.73 million registered users
- 11.17 million customers served
- ₹59,557.53 million AUM as of December 2025
The company’s portfolio includes personal loans, MSME financing, and loan against property, with disbursements routed via its NBFC partner.
Issue Structure and Institutional Setup Reflect Mixed Capital Raise and Exit
The IPO is being managed by JM Financial Ltd. as the book-running lead manager, while Kfin Technologies Ltd. is the registrar.
Break-up of the issue:
- Fresh issue: 4.97 crore shares
- Offer for sale: 0.44 crore shares
- Total issue size: 5.41 crore shares
The fresh issue proceeds are expected to support business expansion, while OFS enables partial stake dilution by existing shareholders.
Here’s What Happened Today and Why Traders Reacted
Market activity on April 29 remained data-driven, with traders closely tracking GMP stability and expected listing returns.
Key triggers:
- GMP held steady at ₹4 for consecutive sessions
- Estimated ₹348 per lot gain capped short-term upside expectations
- No sharp spike in grey market demand ahead of opening
This resulted in a cautious approach from traders, with participation expected to depend heavily on subscription momentum during the issue period.
What This IPO Means for Market Sentiment and Investor Strategy
Comparable fintech and NBFC-linked listings in recent years have shown mixed performance, with some delivering single-digit listing gains while others corrected post-listing due to valuation concerns.
Market impact:
- Subscription demand will act as a signal for fintech IPO appetite
- A muted listing could reinforce selective participation in new-age IPOs
Investor impact:
- Retail investors may see limited listing upside based on current GMP trends
- Investment decisions may shift toward fundamentals such as AUM growth and asset quality rather than listing gains
Key Dates Investors Should Track for Allotment and Listing
- IPO Open: April 30, 2026
- IPO Close: May 5, 2026
- Allotment Finalisation: May 6, 2026
- Refunds & Share Credit: May 7, 2026
- Listing Date: May 8, 2026
How to Check Allotment
OnEMI Technology IPO allotment is expected on May 6, 2026. Check your allotment status on Kfin Technologies’ website using the following steps:
- Visit the Kfin Technologies IPO allotment page.
- Select OnEMI Technology Solutions Limited from the company dropdown.
- Choose any one of the options — PAN, Application Number, or DP Client ID.
- Enter the required details correctly.
- Click on Search to view your allotment status.
On securing the allotment, shares will be credited to your demat account on May 7, 2026. If no allotment is received, the refund process will be initiated on the same day.
FAQs Investors Are Searching Before Applying
What is the OnEMI Technology IPO allotment date?
Allotment is expected to be finalised on May 6, 2026.
What is the GMP of OnEMI Technology IPO today?
The GMP stands at ₹4 as of April 29, 2026.
What is the minimum investment required?
Retail investors need ₹14,877 for one lot (87 shares).
Is OnEMI Technology IPO expected to list at a premium?
Based on current GMP, the expected listing price is around ₹175, indicating a modest premium.
What are OnEMI Technology’s key financial indicators?
As per DRHP disclosures, the company reported ₹59,557.53 million AUM and a user base of over 63.73 million.
