OnEMI Technology Solutions IPO- Company Analysis
The OnEMI Technology Solutions IPO falls under the Mainboard IPO category and is a book-built issue of Rs. 925.92 Cr by OnEMI Technology Solutions Limited. The company is an Indian technology-enabled lender that primarily offers digital loans catering to a wide range of consumer and corporate requirements through its mobile application.
Operating through its brands Kissht (digital lending platform) and Ring (payments app), OnEMI delivers convenient consumer credit solutions and EMI-based payment options to both online and offline retailers. Its NBFC partner, Si Creva Capital Services, manages key functions including loan disbursement, KYC processes, and EMI collections.
OnEMI Technology Solutions IPO Details
The OnEMI Technology Solutions IPO is scheduled to open on 30 April 2026 and will close on 05 May 2026. The IPO allotment is expected on 06 May, with refund initiation on 07 May 2026.
This Rs. 925.92 crore Mainboard IPO consists of a combination of a fresh issue of 4.97 crore shares (₹850 crore) and an offer for sale of 0.44 crore shares.
The listing of the OnEMI Technology Solutions IPO is expected on Friday, 08 May 2026, on both the BSE and NSE.
The price band for the OnEMI Technology Solutions IPO is set at Rs. 162 to Rs. 171.
IPO Timetable (Tentative)
Events | Date |
IPO Opening Date | Apr 30, 2026 |
IPO Closing Date | May 05, 2026 |
IPO Allotment Date | May 06, 2026 |
Refund Initiation | May 07, 2026 |
IPO Listing Date | May 08, 2026 |
Industry Overview
Click to open free demat account and apply for the IPO.
Company Financials
(Amount in Cr)
Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 2,701.10 | 1,796.53 | 1,275.20 |
Total Income | 1,352.69 | 1,700.30 | 1,001.51 |
Profit After Tax | 160.62 | 197.29 | 27.67 |
EBITDA | 403.37 | 358.96 | 97.71 |
NET Worth | 1,005.99 | 804.57 | 566.23 |
Reserves | 995.32 | 794.50 | 556.17 |
Total Borrowing | 1,507.58 | 784.30 | 387.89 |
Cash Flows
(Amount in Mn)
Net Cash Flow | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Net Cash Flow Operating Activities | (6,614.26) | (6,374.34) | 1,114.78 |
Net Cash Flow Investing Activities | (332.28) | 404.22 | (724.53) |
Net Cash Flow Financing Activities | 5,423.40 | 3,120.81 | 4,435.90 |
Revenue Bifurcation
(Source: DRHP)
The Objective of the Issue
The company intends to utilise the Net Proceeds from the Issue for the following objective:
Augmenting the capital base of its Subsidiary, Si Creva, to support its future capital requirements driven by the Subsidiary’s growth — approximately Rs. 637.50 Cr.
Listed Peers of OnEMI Technology Solutions Ltd.
Name of Company | Face Value (₹) | Basic EPS (₹) | PE Ratio (x) |
Bajaj Finance Limited | 1 | 26.89 | 34.36 |
Cholamandalam Investment & Finance Company Limited | 2 | 50.72 | 30.99 |
HDB Financial Services Limited | 10 | 27.40 | 24.70 |
SBI Cards & Payment Services Limited | 10 | 20.15 | 33.28 |
Valuation
KPI | Value |
ROE | 17.74% |
Debt/Equity | 1.50 |
RoNW | 15.97% |
Price to Book Value | - |
Evaluation of P/E Ratio
Considering the financial year ended FY 2025, with an EPS of Rs. 33.09 for the last year, the resulting P/E ratio comes to 5.16x.
IPO's Strengths
Strong and sizable customer base acquired through a wide range of multi-channel acquisition strategies.
Focus on improving asset quality backed by robust and advanced risk management practices.
Access to diversified and scalable funding sources.
AI-powered, cloud-native, and scalable technology platform integrated across all key operations.
Experienced founders and leadership team supported by prominent investors.
IPO's Weaknesses
Exposure to geographical concentration risk.
History of negative cash flows.
Dependence on its Subsidiary.
OnEMI Technology Solutions IPO GMP (Grey Market Premium)
The OnEMI Technology Solutions IPO GMP is Rs. 30 as of 07 May 2026, at the time of updating this information.
OnEMI Technology Solutions IPO Summary
IPO Opening & Closing Date | 30 Apr, 2026 to 05 May, 2026 |
Face Value | Rs. 1 per Share |
Issue Price | Rs. 162 to Rs. 171 per Share. |
Lot Size | 87 Shares |
Issue Size | 5,41,47,390 Shares (Rs. 926 Cr) |
Offer for Sale | 44,39,788 Shares (Rs. 76 Cr) |
Fresh Issue | 4,97,07,602 Shares (Rs. 850 Cr) |
Listing at | BSE, NSE |
Issue Type | Bookbuild issue IPO |
Registrar | Kfin Technologies Ltd. |
IPO Lot Details
Minimum Lot Investment (Retail) | 1 Lot |
Maximum Lot Investment (Retail) | 13 Lots |
HNI (Min) | 14 Lots |
OnEMI Technology Solutions IPO Allotment Status
To check the OnEMI Technology Solutions IPO allotment status, you can visit the official Registrar’s website or the BSE website. Below are the direct links for your convenience:
Using BSE Website - BSE IPO allotment status
Promoters And Management of OnEMI Technology Solutions Ltd.
Ranvir Singh
Krishnan Vishwanathan
Pre-Issue Promoter Shareholding | 32.30% |
Post-Issue Promoter Shareholding | 23.33% |
IPO Lead Managers
JM Financial Ltd.
Dividend Policy
The company has not declared or paid any dividends during the last three financial years.
Conclusion
OnEMI Technology Solutions IPO provides exposure to the rapidly growing digital lending and fintech segment, supported by strong technology and a scalable business model. However, investors should carefully assess factors such as negative cash flows, increasing borrowings, and reliance on its NBFC subsidiary before making an investment decision.
To read the company’s prospectus, click the link below to download the DRHP.
DISCLAIMER: This content is for educational and informational purposes only and should not be considered as a buy or sell recommendation. No investment or trading advice is being provided. Investors are advised to consult a qualified financial advisor before making any investment decisions.
