OnEMI Tech Lists at 12% Premium Over IPO Price on BSE

OnEMI Tech Lists at 11.7 Percent Premium, Raises Rs 3,218.03 Crore

OnEMI Technology Solutions, the parent company of digital lending platform Kissht, made a strong debut on the stock exchanges on Friday, listing its shares at a nearly 12 percent premium. The company's shares were listed at Rs 191 per share on the BSE, a premium of 11.7 percent over the issue price. On the NSE, the shares of the company were listed at Rs 190 per share, a premium of 11.11 percent.

The initial public offering (IPO) of OnEMI Tech, which closed on May 5, witnessed a strong response from investors, with the issue being subscribed 9.5 times. The company had set a price band of Rs 162-171 per share for the Rs 926-crore issue. The share listing price of Rs 191 on the BSE and Rs 190 on the NSE indicates a robust investor interest in the company.

The listing of OnEMI Tech's shares was lower than the expectations in the grey market, which had predicted up to 16 percent listing gains. However, the company's market capitalisation post listing now stands at Rs 3,218.03 crore. The proceeds from the fresh issue will be used to augment the capital base of its subsidiary Si Creva to meet future funding requirements, along with general corporate purposes.

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Kissht, which operates as a subsidiary of OnEMI Technology Solutions, was founded in 2016. The digital credit solutions provider focuses on young consumers in the mass market segment, offering credit solutions tailored to their needs.

Note: The premium percentages are calculated based on the issue price of Rs 162 per share.