OnEMI Technology IPO Day 2 update: Issue booked 50% so far; check GMP

OnEMI Technology: OnEMI Technology, a fintech company operating the digital lending platform Kissht, has received a slow response from investors for its initial public offering (IPO), which opened for public subscription on Thursday, April 30, 2026. According to data from the National Stock Exchange (NSE), the public issue was subscribed to 50 per cent as of 4 PM on Monday, May 4. 

 

The three-day subscription window for the IPO will close tomorrow. So far, the issue has received bids for 19.82 million shares against 39.76 million shares on offer. Demand has been strongest in the Qualified Institutional Buyers (QIBs) segment, which has been subscribed to around 1.2 times. In contrast, non-institutional investors (NIIs) have subscribed to 36 per cent of their reserved quota. The portion reserved for retail investors was booked only 16 per cent.  

 

OnEMI Technology IPO GMP

The investor sentiment was also reflected in the grey market. According to sources tracking unofficial market activity, OnEMI’s unlisted shares were trading at ₹174.75 per share, commanding a grey market premium of ₹3.75, or 2.2 per cent, over the upper end of the IPO price band of ₹162 to ₹171.

OnEMI Technology IPO details

The IPO comprises a fresh issue of 49.7 million equity shares worth up to ₹850 crore and an offer for sale (OFS) of 4.4 million shares amounting to ₹75.92 crore. Under the OFS, Ammar Sdn Bhd, Vertex Growth Fund Pte Ltd, Vertex Ventures SEA Fund III Pte Ltd, Vertex Growth Fund II Pte Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, AION Advisory Services LLP, VenturEast Proactive Fund LLC, VenturEast SEDCO Proactive Fund LLC and Ventureast Proactive Fund will divest a part of their stake. 

 

The issue is priced in the range of ₹162-171 per share, with a lot size of 87 shares. At the upper end of the price band, retail investors need to invest a minimum of ₹14,877 for one lot, while a maximum application of 13 lots (1,131 shares) requires ₹1,93,401.

 

Kfin Technologies is the registrar for the issue. JM Financial, HSBC Securities and Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers. 

OnEMI Technology IPO allotment date, listing date

With the issue closing tomorrow, the basis of allotment is expected to be finalised on Wednesday, May 6, 2026. Shares are likely to be credited to successful applicants’ demat accounts by Thursday, May 7, 2026. The stock is scheduled to list on the NSE and BSE tentatively on Friday, May 6, 2026.

OnEMI IPO objectives

According to the red herring prospectus (RHP), the company aims to utilise ₹637 crore from the net fresh issue proceeds for augmenting the capital base of Subsidiary, Si Creva, to meet its future capital requirements. The remaining funds will be used for general corporate purposes.