Kissht Parent OnEMI Tech Lists at 12% Premium Over IPO Price on BSE and NSE

Shares of OnEMI Technology, the parent company of digital lending platform Kissht, made a strong debut on the stock exchanges on Friday, listing at a premium of around 12% over its IPO price amid healthy investor interest in the fintech space.

The company’s shares opened at ₹190 on the NSE, reflecting a gain of ₹19 or 11.1% over the IPO issue price of ₹171 per share. On the BSE, the stock listed slightly higher at ₹191, delivering a 12% premium to investors.

Following the listing, the stock extended gains and touched an intraday high of ₹197, indicating continued buying interest during early trade.

OnEMI Tech Listing Performance

Exchange	Listing Price	IPO Price	Listing Gain
NSE	₹190	₹171	+11.1%
BSE	₹191	₹171	+12.0%
Intraday High	₹197	₹171	+15.2%

The listing was positive but slightly below grey market expectations. Ahead of the debut, the stock was commanding a grey market premium (GMP) that implied a potential listing near ₹198.

About OnEMI Technology and Kissht

OnEMI Technology operates Kissht, one of India’s prominent digital lending and consumer finance platforms. The company provides:

• Personal loans
• Consumer durable financing
• EMI-based purchases
• Merchant financing solutions
• Digital credit products

The platform focuses heavily on India’s growing digital credit ecosystem and targets underserved consumers through quick online lending solutions.

OnEMI Technology IPO Details

The IPO successfully raised approximately ₹926 crore through a combination of fresh issue and offer-for-sale (OFS).

IPO Structure

Component	Amount
Fresh Issue	₹850 Crore
Offer For Sale (OFS)	₹75.92 Crore
Total IPO Size	₹926 Crore

The IPO was open for subscription between April 30 and May 5, 2026.

IPO Price Band and Lot Size

Particulars	Details
Price Band	₹162 – ₹171
Final Issue Price	₹171
Lot Size	87 Shares

Subscription Details

The IPO received strong demand from institutional investors, while retail participation remained relatively moderate.

Subscription Breakdown

Category	Subscription
QIBs	24.87x
NIIs	6.57x
Retail Investors	2.03x
Overall Subscription	9.5x

The Qualified Institutional Buyer (QIB) segment emerged as the biggest driver of demand, signaling strong institutional confidence in the company’s business model and fintech growth story.

How Will OnEMI Use IPO Funds?

According to the company’s Red Herring Prospectus (RHP), a major portion of the fresh proceeds will be used to strengthen the capital base of its lending subsidiary Si Creva.

Planned Use of Funds

Purpose	Amount
Capital infusion into Si Creva	₹637 Crore
General Corporate Purposes	Remaining Amount

The additional capital is expected to support loan book expansion and future growth initiatives.

Why Investors Are Watching OnEMI Tech Closely

Rising Digital Lending Demand

India’s fintech lending market continues to expand rapidly due to rising smartphone penetration, digital payments adoption, and growing credit demand from young consumers.

Strong Consumer Finance Opportunity

Platforms like Kissht are benefiting from increasing demand for EMI-based purchases and instant credit solutions.

Institutional Confidence

Heavy QIB participation indicates institutional investors see long-term potential in the digital lending ecosystem.

Expanding Credit Penetration

India still remains underpenetrated in consumer credit compared to developed economies, creating a long-term structural growth opportunity.

Key Risks Investors Should Watch

Despite the strong debut, investors remain cautious about several risks in the fintech lending space.

Risk Factor	Concern
Regulatory Changes	RBI oversight on digital lending
Rising Credit Costs	Loan defaults and asset quality
Competition	Intense fintech and NBFC rivalry
Profitability Pressure	High customer acquisition costs

Market Outlook

Analysts believe the company’s listing performance reflects improving sentiment toward quality fintech businesses after a volatile phase for the sector over the last two years.

The market will now closely track:

• Loan growth
• Asset quality trends
• Profitability improvement
• Customer acquisition efficiency
• Regulatory compliance

Final Take

OnEMI Technology’s positive stock market debut highlights continued investor appetite for digital lending and fintech businesses in India.

While the stock listed below aggressive grey market expectations, the double-digit premium and strong institutional participation indicate confidence in the company’s long-term growth potential.

Going forward, the company’s ability to scale lending operations profitably while maintaining healthy asset quality will remain the key factor determining its long-term market performance.

What was the listing price of OnEMI Technology shares?

OnEMI Technology shares listed at ₹190 on the NSE and ₹191 on the BSE, delivering around an 11–12% premium over the IPO issue price of ₹171 per share.

How much did the OnEMI Technology IPO raise?

The IPO raised approximately ₹926 crore through a combination of a fresh issue and an offer-for-sale (OFS).

What does OnEMI Technology do?

OnEMI Technology operates the digital lending platform Kissht, which offers personal loans, EMI financing, consumer durable loans, and other fintech credit solutions.

How was the OnEMI Technology IPO subscribed?

The IPO was subscribed 9.5 times overall, with Qualified Institutional Buyers (QIBs) subscribing 24.87 times, NIIs 6.57 times, and retail investors 2.03 times their allotted quota.