A prominent digital lending player marked a steady debut on the domestic equity bourses on Friday. Shares of OnEMI Technology Solutions, the operating entity behind the consumer lending platform Kissht, listed at a premium of roughly 12 percent over their final public issue price. Against the IPO price of Rs 171 per equity share, the listing delivered immediate capital gains to allottees. Upon entering the secondary market, the fintech firm attained an aggregate market capitalization of Rs 3,417.68 crore.
Opening Trades on the Stock Exchanges
On the BSE, the company kicked off trading at Rs 191 per share, reflecting a premium of 11.69 percent over the issue price. Concurrently, on the National Stock Exchange, trading commenced at Rs 190 per share, establishing an initial uptick of 11.11 percent. Buying momentum accelerated further across both bourses as market participants continued to build positions following the bell.
Fundraising Structure and Allocation Timeline
OnEMI Technology Solutions had opened its bidding window on April 30 and concluded the public subscription process on May 5. Through this market exercise, the business successfully raised Rs 926 crore. The management had demarcated an offer price band of Rs 162 to Rs 171 per equity share of face value Re 1, ultimately settling allotments at the ceiling rate of Rs 171. Following the close of the book-building window, equity allocations were completed on May 6, with successful bidders receiving shares in their demat accounts on May 7.
Subscription Numbers and Intraday Movement
The total offering comprised a fresh issuance of 4,97,07,602 shares worth Rs 850 crore, alongside an offer for sale component of 44,39,788 shares valued at Rs 76 crore offloaded by selling stakeholders. Driven by broad institutional and retail demand, the issue garnered an overall subscription of 9.50 times by its concluding day on May 5.
Intraday trends remained decidedly upbeat after the opening bell. By 02:22 PM on Friday, shares on the NSE were changing hands at Rs 213.81, up 25.04 percent or Rs 42.79 above the original issue price and 12.53 percent or Rs 23.81 higher than the morning listing quote. Across the day's market swings, the counter recorded an intraday low of Rs 190 before surging to an intraday peak of Rs 227.40.
