OnEMI Technology Secures Rs 278 Crore from Anchor Investors Ahead of Upcoming IPO Launch

OnEMI Technology Solutions Ltd Mobilises Rs 278 Crore Ahead of Maiden Public Offering

OnEMI Technology Solutions Ltd, the parent company of digital lending platform Kissht, has successfully mobilised Rs 278 crore from anchor investors ahead of its maiden public offering. The anchor book saw participation from a mix of domestic mutual funds and global investors, including HDFC Mutual Fund, ICICI Prudential MF, and Goldman Sachs, among others.

According to a circular uploaded on BSE's website, Kissht allocated 1.62 crore equity shares at Rs 171 apiece, which is also the upper end of the price band. This takes the transaction size to Rs 277.77 crore. Domestic mutual funds accounted for 57 percent of the anchor allocation, with shares worth Rs 158.3 crore allotted across 13 schemes of seven fund houses.

The Rs 926-crore issue will open for subscription on April 30 and close on May 5. The price band has been fixed at Rs 162-171 per share, valuing the company at nearly Rs 2,900 crore at the upper band. The IPO comprises a fresh issue of equity shares aggregating to Rs 850 crore and an offer-for-sale (OFS) of 44,39,788 equity shares worth Rs 76 crore at the upper end by existing shareholders.

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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. Founded in 2016, Kissht provides digital credit solutions focused on young consumers in the mass market segment. As of March 31, 2025, the platform had 53.23 million registered users and had served 9.16 million customers.

The lot size has been fixed at 87 equity shares, with a minimum investment of Rs 14,877 for retail investors at the upper price band. The shares are proposed to be listed on the BSE and NSE, with listing expected on May 8. JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking are the book-running lead managers to the issue, while KFin Technologies Ltd is the registrar.