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Reviewed and Rewrite by
Rudransh Sangwan
Kissht parent OnEMI Tech made a strong stock market debut, listing at a 12% premium over its IPO price on BSE and NSE. The fintech company raised ₹926 crore through its IPO, with strong institutional demand and solid investor interest. Shares opened at ₹190 on NSE against the issue price of ₹171, highlighting positive market sentiment toward India’s digital lending and fintech sector.
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.
| 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.
OnEMI Technology operates Kissht, one of India’s prominent digital lending and consumer finance platforms. The company provides:
The platform focuses heavily on India’s growing digital credit ecosystem and targets underserved consumers through quick online lending solutions.
The IPO successfully raised approximately ₹926 crore through a combination of fresh issue and offer-for-sale (OFS).
| 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.
| Particulars | Details |
|---|---|
| Price Band | ₹162 – ₹171 |
| Final Issue Price | ₹171 |
| Lot Size | 87 Shares |
The IPO received strong demand from institutional investors, while retail participation remained relatively moderate.
| 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.
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.
| 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.
India’s fintech lending market continues to expand rapidly due to rising smartphone penetration, digital payments adoption, and growing credit demand from young consumers.
Platforms like Kissht are benefiting from increasing demand for EMI-based purchases and instant credit solutions.
Heavy QIB participation indicates institutional investors see long-term potential in the digital lending ecosystem.
India still remains underpenetrated in consumer credit compared to developed economies, creating a long-term structural growth opportunity.
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 |
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:
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.
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.
The IPO raised approximately ₹926 crore through a combination of a fresh issue and an offer-for-sale (OFS).
OnEMI Technology operates the digital lending platform Kissht, which offers personal loans, EMI financing, consumer durable loans, and other fintech credit solutions.
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.
