OnEMI Technology Solutions IPO Review 2026 Kissht GMP Price Apply or Avoid

OnEMI Technology Solutions IPO Details

The OnEMI Technology Solutions IPO date is scheduled from 30th April 2026 to 5th May 2026. The face value of shares stands at Rs 1 per share and the price band is set at Rs 162 to Rs 171 per share. KFin Technologies Limited is the registrar of the OnEMI Technology Solutions IPO. The book running lead managers are JM Financial Ltd., SBI Capital Markets Ltd., Centrum Capital Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd., and Nuvama Wealth Management Ltd. Check out the latest IPO details in the table below.

IPO Details	Information
IPO Open Date	30th April 2026
IPO Close Date	5th May 2026
IPO Allotment Date	6th May 2026
Credit to Demat	7th May 2026
Issue Size	Rs 925.92 crore
Fresh Issue	Rs 850 crore
OFS Component	44,39,788 shares (approx Rs 75.92 crore)
Face Value	Rs 1 per share
Price Band	Rs 162 to Rs 171
Lot Size	87 shares
Minimum Retail Investment	Rs 14,877 (1 lot at upper band)
Issue Type	Mainboard Book Building IPO
Listing At	NSE and BSE
Listing Date	8th May 2026
Lead Managers	JM Financial, SBI Capital Markets, Centrum Capital, HSBC Securities, Nuvama Wealth
Registrar	KFin Technologies Limited
SEBI Approval Date	8th January 2026

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OnEMI Technology Solutions IPO Share Reservation

The OnEMI Technology Solutions IPO is a mainboard book-building issue with share reservation as per SEBI norms. As a mainboard IPO, the reservation follows the standard framework of 50% for QIBs, 15% for NIIs, and 35% for retail investors, with the anchor investor portion carved out from the QIB quota. Specific allocation percentages will be confirmed in the Red Herring Prospectus. Track IPO research on the Univest Screener.

OnEMI Technology Solutions IPO GMP Grey Market Premium

GMP represents the premium at which IPO shares trade in the unofficial grey market before official listing. Check the table below for the latest OnEMI Technology Solutions IPO GMP trends.

GMP Date	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
27-04-2026	Rs 171	To be updated	To be updated	To be updated

GMP for the OnEMI Technology Solutions IPO will be actively tracked once the subscription window opens on 30th April 2026. GMP is unofficial and subject to extreme volatility. Do not apply for the OnEMI Technology Solutions IPO based solely on GMP data. Stay updated with Univest Blogs for real-time GMP and subscription insights.

OnEMI Technology Solutions IPO GMP Review

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The OnEMI Technology Solutions IPO is one of the largest fintech IPOs of 2026 and is attracting significant institutional investor interest given India’s rapidly expanding digital lending market. The company operates Kissht, one of India’s popular digital lending apps, and Ring, a payments platform, with 53.23 million registered users and 9.16 million active customers as of March 31, 2025. The Rs 171 upper price band values the company at a significant market capitalisation, and investors should assess whether the growth runway justifies the valuation before applying for the OnEMI Technology Solutions IPO.

Financial Health

The OnEMI Technology Solutions IPO financials reveal a mixed picture that investors must evaluate carefully. The company’s revenue decreased by 20% and profit after tax dropped by 19% between FY2024 and FY2025, which is a significant concern in the context of India’s broader digital lending growth story. This revenue decline may reflect sector-wide headwinds including RBI regulatory tightening on unsecured digital lending, which impacted disbursement volumes across the industry during that period.

On the positive side, the company had 53.23 million registered users with a Play Store rating of 4.6 stars based on over 1 million user reviews and a net promoter score of 91, indicating strong customer engagement and brand loyalty. Investors should study the RHP carefully to understand the full revenue decline context and FY2026 recovery trajectory before applying for the OnEMI Technology Solutions IPO. Track IPO research on the Univest Screener.

Technical Analysis

Key Indicators	Value
Price Band	Rs 162 to Rs 171
Face Value	Rs 1 per share
Lot Size	87 shares
Issue Size	Rs 925.92 crore
Promoter Holding Pre-IPO	16.61%
Registered Users March 2025	53.23 million
Active Customers March 2025	9.16 million
Play Store Rating	4.6 stars (1 million plus reviews)
Net Promoter Score	91
Revenue Trend FY24 to FY25	Down 20%
PAT Trend FY24 to FY25	Down 19%
SEBI Approval Date	8th January 2026

Note: Pre-IPO data from DRHP and publicly available sources. Verify before investing.

OnEMI Technology Solutions IPO Subscription Status

The OnEMI Technology Solutions IPO subscription window opens on 30th April 2026 and closes on 5th May 2026. Live subscription data will be updated across NSE and BSE platforms once bidding begins. Given this is a mainboard IPO with a significant QIB allocation, institutional subscription numbers in the first two days will be a key indicator of overall IPO health. Allotment is expected on 6th May 2026. Track real-time subscription status and IPO research on the Univest Screener.

About OnEMI Technology Solutions Limited

OnEMI Technology Solutions Limited was incorporated on 18th June 2016 and is headquartered at 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla West, Mumbai – 400070. The company had 1,278 permanent employees as of March 31, 2025.

The company operates primarily under two brands. Kissht is its digital lending platform offering personal loans to salaried and self-employed individuals, loans against property for MSME and salaried individuals, and consumer credit EMI solutions for online and offline merchants. Ring is its payments app that provides EMI-based payment solutions enabling consumers to make purchases and split costs across instalments at partnered merchant outlets.

The company’s NBFC partner, Si Creva Capital Services, handles all regulated lending activities including loan disbursement, KYC verification, and EMI collection, allowing OnEMI to operate as a pure technology platform without directly carrying loan book risk on its own balance sheet.

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OnEMI Technology Solutions Limited Financials

Financial Parameter	FY2025	FY2024
Revenue Trend	Down 20% YoY	Base year
PAT Trend	Down 19% YoY	Base year
Registered Users	53.23 million	Refer DRHP
Active Customers	9.16 million	Refer DRHP
Employees	1,278 permanent	Refer DRHP

Source: DRHP and publicly available filings. Full financials in RHP. Verify before investing.

OnEMI Technology Solutions Limited IPO Promoter Holdings

As per the Draft Red Herring Prospectus filed with SEBI, promoters and promoter group hold 16.61% of the company pre-IPO. This relatively low promoter holding is characteristic of heavily VC-backed fintech companies and reflects significant dilution through multiple funding rounds prior to the IPO. The OFS component of Rs 75.92 crore indicates some existing investor or promoter selling, which investors should evaluate in the context of the overall issue size.

Aim of the OnEMI Technology Solutions IPO

The fresh issue component of Rs 850 crore from the OnEMI Technology Solutions IPO will be utilised primarily for augmenting the capital base of the company’s NBFC subsidiary Si Creva Capital Services to support higher loan disbursement volumes, investing in technology infrastructure including the AI-native cloud platform, expanding merchant and customer acquisition channels, and general corporate purposes. SEBI approved the OnEMI Technology Solutions IPO on 8th January 2026.

Should I Invest in the OnEMI Technology Solutions IPO?

Pros of the OnEMI Technology Solutions IPO

Massive user base: 53.23 million registered users with a 4.6 Play Store rating and NPS of 91 signals exceptional product-market fit and customer retention capability.

India’s digital lending tailwind: India’s consumer credit market is underpenetrated, particularly in the mass market and emerging middle class segments that OnEMI primarily targets through Kissht and Ring.

Asset-light technology platform: The company does not carry loan book risk on its own balance sheet, with Si Creva Capital Services handling all regulated lending activities, limiting balance sheet risk for equity investors.

AI-native scalable technology: Cloud-native and AI-built technology platform integrated across all key business functions positions the company well for operating leverage as loan volumes scale.

Marquee institutional backing: Backing from marquee investors signals institutional validation of the business model and management team’s ability to execute on the digital lending opportunity.

Cons of the OnEMI Technology Solutions IPO

Revenue and PAT decline: Revenue fell 20% and PAT dropped 19% between FY2024 and FY2025, which is a significant red flag that investors must understand the root cause of before applying.

Low promoter holding: Pre-IPO promoter holding of only 16.61% reflects significant VC dilution over multiple funding rounds, which could create alignment concerns between management and public shareholders.

Regulatory risk in digital lending: RBI’s evolving regulatory framework for digital lending, unsecured personal loans, and fintech-NBFC partnerships remains a persistent risk for the entire sector including OnEMI.

High valuation at Rs 171: At the upper price band, the implied valuation is significant relative to the recent revenue decline and requires investors to take a strong view on FY2026 and FY2027 recovery.

OFS component: The Rs 75.92 crore OFS indicates existing investors are partially exiting, which could be interpreted as reducing conviction at the current valuation level.

How to Apply for the OnEMI Technology Solutions IPO

Step 1 – Open a Demat Account: Ensure you have an active demat and trading account with a SEBI-registered broker before 30th April 2026. Open on Univest here.

Step 2 – Log in to your broker platform: Navigate to the IPO section on your broker platform or bank net banking portal from 30th April 2026.

Step 3 – Select the IPO: Search for OnEMI Technology Solutions Limited and click Bid.

Step 4 – Enter lot quantity and price: Apply for a minimum of 1 lot (87 shares) at Rs 171 upper band. Minimum retail investment is Rs 14,877. Applying at cut-off price maximises allotment probability.

Step 5 – Submit UPI or ASBA mandate: Complete your application using UPI ID or ASBA. Allotment on 6th May 2026. Shares credited on 7th May 2026. Check allotment on KFin Technologies website at ipostatus.kfintech.com.

How to Check the IPO Allotment Status of OnEMI Technology Solutions

Check on BSE

Visit bseindia.com, navigate to the Investors section, click on Application Status, select OnEMI Technology Solutions IPO, enter your PAN or application number, and check your allotment status from 6th May 2026 onwards.

Check on the Registrar Portal

Visit KFin Technologies website at ipostatus.kfintech.com, select OnEMI Technology Solutions Limited, enter your PAN, application number or DP Client ID and click Submit. Contact KFin Technologies at kissht.ipo@kfintech.com or 04067162222 for any allotment queries.

Let us Wrap

The OnEMI Technology Solutions IPO is India’s largest fintech IPO of April-May 2026 and offers investors exposure to one of India’s well-known digital lending platforms with 53 million registered users, a strong NPS score, and an AI-native technology architecture. The 20% revenue decline in FY2025 is the elephant in the room that investors must investigate thoroughly before applying. If the decline was driven by external RBI regulatory tightening rather than structural business deterioration, and if FY2026 shows revenue recovery, the long-term investment case strengthens considerably. For the latest updates on the OnEMI Technology Solutions IPO, visit Univest Blogs.

FAQs on OnEMI Technology Solutions IPO

What is the OnEMI Technology Solutions IPO date?

The OnEMI Technology Solutions IPO opens on 30th April 2026 and closes on 5th May 2026. Allotment is expected on 6th May 2026 and the tentative listing date on NSE and BSE is 8th May 2026. Track live subscription status on the Univest Screener.

What is the OnEMI Technology Solutions IPO price band and lot size?

The OnEMI Technology Solutions IPO price band is Rs 162 to Rs 171 per share with a lot size of 87 shares. The minimum retail investment is Rs 14,877 at the upper price band of Rs 171 per share for 1 lot. This is a mainboard IPO listing on both NSE and BSE.

What is the OnEMI Technology Solutions IPO GMP today?

The OnEMI Technology Solutions IPO GMP will be tracked once the subscription window opens on 30th April 2026. GMP data is unofficial, extremely volatile, and should never be the sole basis for your investment decision. Study the fundamentals and read the RHP before applying.

What is Kissht and how does OnEMI Technology work?

OnEMI Technology Solutions operates Kissht, a digital lending platform offering personal loans, loans against property, and consumer EMI credit solutions. Its payments app Ring enables EMI-based transactions at merchant outlets. The company’s NBFC partner Si Creva Capital Services handles loan disbursement and collections. As of March 2025, it had 53.23 million registered users and a 4.6-star Play Store rating.

Should I apply for the OnEMI Technology Solutions IPO?

The OnEMI Technology Solutions IPO is suitable for investors with high risk appetite who believe in India’s digital lending opportunity and are comfortable with the FY2025 revenue and PAT decline. The 20% revenue drop requires careful evaluation before applying. At Rs 171 upper band, valuation is aggressive. Consult a SEBI-registered financial advisor before making any application decision.

Who is the registrar of the OnEMI Technology Solutions IPO?

KFin Technologies Limited is the registrar of the OnEMI Technology Solutions IPO. For allotment queries, contact kissht.ipo@kfintech.com or call 04067162222 or 04079611000. You can check allotment status on ipostatus.kfintech.com from 6th May 2026 onwards.

What is the issue size of the OnEMI Technology Solutions IPO?

The total issue size of the OnEMI Technology Solutions IPO is Rs 925.92 crore, comprising a fresh issue of Rs 850 crore and an offer for sale of 44,39,788 equity shares worth approximately Rs 75.92 crore at the upper price band of Rs 171 per share. This is a mainboard IPO listing on both NSE and BSE on 8th May 2026.

Investments in securities are subject to market risk. Please read all related documents before investing. This content is for educational purposes only and does not constitute investment advice.