OnEMI Technology IPO Day 1: Subscription at 12% by midday; QIBs lead—All you need to know

OnEMI Technology IPO: OnEMI Technology Solutions Limited has launched its initial public offering (IPO) on April 30, 2026, aiming to raise around Rs 926 crore from the primary market. The company offers two major platforms through which customers can access their products and services using their lending platform, Kissht and Ring platform.

A remarkable feature in relation to the company’s red herring prospectus (RHP) is that Sachin Tendulkar, the former cricketer of India, is involved with the company as its brand ambassador and investor. Here's all you need to know about the issue:

OnEMI Technology IPO subscription status

Add Zee Business as a Preferred Source

As of 12:50 pm, investors have made bids for 46.04 lakh shares out of the net offer, resulting in an overall subscription of 0.12 times.

The Qualified Institutional Buyers (QIBs) portion has received bids for 33.33 lakh shares out of the 21.12 lakh shares reserved, resulting in a 0.29-times subscription.

The Non-Institutional Investors (NIIs) category has booked 0.07 times so far, with bids for 5.63 lakh shares out of the 85.36 lakh reserved.

Retail Individual Investors (RIIs) have booked 0.04 times the allotted shares so far, with 7.07 lakh shares bid out of the 1.99 crore shares allotted.

OnEMI Technology IPO size and structure

The IPO is structured as a combination of fresh issue and offer for sale (OFS). The company plans to issue 4.97 crore new equity shares worth Rs 850 crore, while existing shareholders will offload 0.44 crore shares aggregating to nearly Rs 76 crore. According to the red herring prospectus, promoters Ranvir Singh and Krishnan Vishwanathan currently hold a 32.30 per cent stake in the company.

IPO price band and valuation

For investors, the price band has been fixed between Rs 162 and Rs 171 per share. At the upper end of this range, the company’s pre-issue market capitalisation is estimated at about Rs 2,881 crore.

Subscription dates and listing schedule

The IPO follows a standard timeline. Subscription will remain open from April 30 to May 5, while the basis of allotment is expected to be finalised on May 6. Shares are likely to be listed on both NSE and BSE on May 8, 2026.

OnEMI Technology IPO allocation structure

Retail investors can participate with a minimum bid of 87 shares, translating to an investment of Rs 14,877 at the upper price band. In terms of allocation, up to 50 per cent of the issue is reserved for Qualified Institutional Buyers (QIBs), at least 35 per cent for retail investors, and a minimum of 15 per cent for non-institutional investors (NIIs).

Lead managers and registrar details

The IPO is being managed by JM Financial, HSBC Securities & Capital Markets (India), Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking, while Kfin Technologies has been appointed as the registrar.

Sachin Tendulkar's association with the company

A key highlight in the company’s RHP was its association with former Indian cricket captain Sachin Tendulkar. The company announced its partnership with Sachin Tendulkar for brand ambassador role, which took place in fiscal year 2025, to establish consumer confidence and boost brand recognition, according to the company.

The RHP filings show both brand endorsement contracts and security agreements through which the company issued structured equity and CCPS. The investor acquired 53,778 Series Z4 Compulsorily Convertible Preference Shares (CCPS) through private placement at Rs 2,232 per share (face value Rs 10), which the company issued in three equal tranches of 17,926 CCPS each during February and June 2025.

These CCPS were later converted on February 25, 2026, in a 1:10 ratio, resulting in the allotment of 537,780 equity shares to Sachin Tendulkar. The structure was disclosed as part of service and investment-linked arrangements, with an effective conversion price of approximately Rs 223.2 per equity share.

About OnEMI Technology Solutions Limited

OnEMI Technology Solutions Limited operates as a digital lending platform within India’s financial technology industry. The company provides multiple credit products, which include small personal loans and secured loans that use Loan Against Property (LAP) as collateral. The organisation improves credit access through its implementation of data analytics, alternative credit scoring systems and technology-based underwriting methods.

The company offers two main platforms that customers can access through their digital lending service, Kissht, and their Ring platform, which provides payment and credit services. Si Creva Capital Services serves as the company's NBFC partner to manage loan disbursement, KYC processes and EMI collection activities.

The IPO of OnEMI Technology Solutions Limited is positioned as a fintech-focused public issue backed by its digital lending operations and brand visibility. The issue also highlights its association with former cricketer Sachin Tendulkar. Investors will evaluate the company's financial performance, asset quality and growth potential when the IPO begins its subscription period.