OnEMI Shares Surge 22% Above IPO Price After Strong Listing

Shares of OnEMI Technology Solutions, the parent company of digital lending platform Kissht, made a strong stock market debut on Friday, listing at a premium of 11% over its IPO price amid healthy investor demand.

The stock debuted at ₹191 on the BSE, a premium of 11.70% over its issue price of ₹171. On the NSE, the stock opened at ₹190, up 11.11%.

Following the listing, buying momentum strengthened further, with the stock rising to ₹207.60 on the NSE by 11 am, nearly 22% above the issue price. The company’s market capitalisation stood at around ₹3,300 crore.

Strong Subscription and Institutional Demand

The ₹926 crore IPO of OnEMI Technology Solutions was open for subscription between April 30 and May 5.

The issue, priced in the range of ₹162-171 per share with a lot size of 87 shares, comprised a fresh issue worth ₹850 crore and an offer for sale (OFS) worth ₹76 crore.

The IPO received strong investor response and was subscribed 9.5 times overall, attracting bids worth more than ₹6,458 crore across over 1.53 lakh applications.

Institutional demand remained the key highlight. The Qualified Institutional Buyers (QIB) category was subscribed 24.87 times, while the non-institutional investor (NII) portion saw 6.57 times subscription. The retail category was subscribed 2.03 times.

Ahead of listing, the IPO was commanding a grey market premium (GMP) of around ₹27-28 per share, indicating strong market expectations for a positive debut.

Based on the listing price, investors earned around ₹1,740 per lot.

Anchor Investors, Existing Shareholders Participate

Ahead of the IPO, the company raised ₹277.8 crore from anchor investors including HDFC Mutual Fund, ICICI Prudential, WhiteOak Capital, Bandhan Bank, Goldman Sachs, BNP Paribas, Citigroup and New York State Teachers Retirement System.

Several early investors also partially exited through the OFS route. Ammar Sdn Bhd, one of the company's largest shareholders, sold 11.56 lakh shares and raised around ₹19.8 crore. Venture capital investors including Vertex Ventures, Ventureast, AION Advisory Services and Endiya Partners also trimmed stakes.

Shivani Nyati, Head of Wealth at Swastika Investmart, said OnEMI Technology Solutions delivered a strong Dalal Street debut backed by healthy participation across investor categories and strong institutional demand.

She added that despite the sharp listing gains, the stock could remain volatile in the near term, advising investors to maintain a stop loss near ₹178 to manage downside risks.