OnEMI Technology to list on May 8; here's what latest GMP hints at

OnEMI Technology IPO listing forecast: OnEMI Technology, a fintech company, is scheduled to make its Dalal Street debut on Friday, May 8, 2026. Early indicators from the grey market suggest a solid debut. 

 

The company raised ₹926 crore through its initial public offering (IPO), which comprises a fresh issue of 49.7 million equity shares and an offer for sale (OFS) of 4.4 million equity shares. 

 

According to NSE data, OnEMI Technology IPO received a decent investor response with an overall subscription of 9.50 times, driven by strong participation from qualified institutional buyers (QIBs). The portion booked for QIBs was subscribed to around 24.9 times. However, non-institutional investors (NIIs) and retail investors portions were booked only 6.57 times and 2.03 times, respectively. 

 

 

The basis of allotment was finalised on Wednesday, May 6, 2026, and investors are now awaiting the company’s debut on Dalal Street. Ahead of listing, the stock was quoted at around ₹197 in the grey market, reflecting a premium of ₹26 or 15 per cent to the issue price of ₹171, according to sources tracking unofficial markets.

 

If this grey market trend holds, the shares may list near ₹197, suggesting a potential upside of 15-16 per cent for IPO investors. That said, analysts warn that grey market trades are unofficial and unregulated, and the Grey Market Premium (GMP) should not be treated as a reliable indicator of actual listing performance.

OnEMI Technology IPO details

The IPO comprises a fresh issue of 49.7 million equity shares worth up to ₹850 crore and an OFS of 4.4 million shares worth up to ₹75.92 crore. The issue was offered at a price band of ₹162 to ₹171 per share, with a lot size of 87 shares. The public issue was open for subscription from April 30 to May 5, 2026.

 

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. 

 

According to the RHP, the company intends to allocate ₹637 crore from the net 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.