OnEMI Technology Solutions, the fintech company behind digital lending platform Kissht, is set to launch its ₹926-crore initial public offering (IPO) on April 30. The company has fixed a price band of ₹162 to ₹171 per share, valuing it at close to ₹2,900 crore at the upper end.
The IPO will remain open for subscription until May 4-5, depending on the category, with anchor investor bidding scheduled a day before the opening. The shares are expected to be listed on both the BSE and NSE around May 8, following the allotment process.
This offering marks a significant milestone for the Mumbai-based company, which has grown rapidly in India’s digital lending space over the past few years. Backed by global investors such as Temasek’s Vertex Holdings, OnEMI is now looking to tap public markets to fuel its next phase of growth.
“Kissht parent OnEMI to launch ₹926 crore IPO on April 30.”~Moneycontrol
Fresh Issue Dominates IPO Structure, OFS Component Limited:
The IPO comprises a mix of fresh issue and offer-for-sale (OFS). Out of the total ₹926 crore issue size, ₹850 crore will come from fresh equity issuance, while the remaining ₹75.9 crore will be raised through OFS by existing shareholders.
Investors such as Vertex Holdings, Ventureast Proactive Fund, and Ammar Sdn Bhd are expected to partially offload their stakes through the OFS portion.
The company plans to use the proceeds from the fresh issue primarily to strengthen the capital base of its NBFC arm, Si Creva Capital Services, which is responsible for lending operations. A portion of the funds will also go toward general corporate purposes. This structure highlights the company’s focus on expanding its lending capacity rather than providing a large exit to early investors.
“IPO largely fresh issue to boost lending capital.”~Economic Times
Business Model and Financial Performance in Focus:
Founded in 2016, OnEMI Technology Solutions operates in the digital lending segment, offering unsecured personal loans to salaried and self-employed individuals through its platform Kissht. The company leverages technology to provide quick approvals and minimal paperwork, targeting India’s underserved credit segment.
Over the years, the firm has built a strong presence in the fintech ecosystem, competing with other digital lenders and NBFCs. Its subsidiary, Si Creva, plays a key role in disbursing loans and managing credit risk.
Financially, the company has shown solid growth. For the nine months ended December 2025, OnEMI reported revenue of ₹1,559.9 crore and a net profit of ₹199.2 crore, indicating a profitable and scalable business model. However, like most lending businesses, its performance remains closely tied to asset quality, credit demand, and regulatory changes in the financial sector. Investors are likely to closely evaluate these factors before subscribing to the IPO.
“Fintech lenders see strong growth but face risk scrutiny.”~Business Today
IPO Comes Amid Growing Interest in Fintech Listings:
The OnEMI IPO comes at a time when India’s capital markets are witnessing increased activity from fintech and digital-first companies. As more consumers shift toward online financial services, companies like Kissht are seeing rising demand for credit solutions.
At the same time, investors are becoming more selective, focusing on profitability, governance, and sustainable growth rather than just user expansion.
“Investors turn cautious but optimistic on fintech IPOs.”~CNBC
For OnEMI, the IPO represents both an opportunity and a test. While the company has demonstrated strong growth and profitability, it will need to convince investors about its long-term stability in a competitive and tightly regulated market.
What Investors Should Watch:
As the IPO opens, key factors to monitor include:
- Subscription levels across investor categories
- Institutional interest during anchor allocation
- Valuation compared to peers in the lending space
- Future growth plans and credit quality
The listing performance will largely depend on market sentiment and investor confidence in the fintech sector.
Overall, the ₹926-crore IPO of OnEMI Technology Solutions is shaping up to be one of the notable public issues in the fintech space this year. With a strong business model and backing from global investors, the company is stepping into public markets at a time when both opportunities and scrutiny are at an all-time high.
