OnEMI Tech Shares to Debut on Exchanges on Friday: Early Market Performance Trends
OnEMI Technology Solutions (Kissht)
IPOOnEMI Technology Solutions IPO Subscription Overwhelming
Shares of OnEMI Technology Solutions are scheduled to list on the exchanges on Friday after its initial public offering was subscribed 9.5 times on the final day of bidding on Tuesday, driven largely by strong institutional demand.
The company's initial share sale, which operates digital lending platform Kissht, received bids for 37.76 crore shares against 3.97 crore shares on offer, according to NSE data. The qualified institutional buyers (QIBs) portion was subscribed 24.87 times, while the category for non-institutional investors received 6.57 times subscription, and the retail individual investors (RIIs) quota was subscribed 2.03 times.
The IPO price band was fixed at Rs 162-171 per share, with the company having earlier raised Rs 278 crore from anchor investors. Platforms tracking grey market activity have indicated that the company's shares are expected to list at a premium, with Investorgain estimating a grey market premium (GMP) of Rs 21.25 per share, indicating a potential listing gain of 12.43 percent over the upper end of the price band. IPO Watch estimated the GMP at more than 16 percent.
Founded in 2016, Kissht offers digital credit solutions focused on young consumers in the mass market segment. The company's strong institutional demand and subsequent listing premium are expected to make its shares a highly sought-after listing on Friday.
Investor Takeaway
Investors can expect a potential listing gain of 12.43% over the upper end of the price band.
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