Mumbai: OnEMI Technology Solutions Limited, the company behind digital lending platforms Kissht and Ring, goes public today, April 30. It is seeking to raise ₹2,881 crore, combining a fresh issue of shares worth Rs.850 crore and an Offer for Sale (OFS) worth Rs.76 crore. The proceeds from the issue will be used to boost the capital base of its subsidiary, Si Creva, and for other general corporate purposes.
The company has, over the years built its business model catering to small ticket borrowers and New to Credit (NTC) borrowers through its Kissht POS brand and Ring credit app. It uses AI-led credit scoring models to assess the risk for borrowers who generally lack traditional credit histories.
IPO Details at a Glance
| IPO Date | April 30 – May 5, 2026 |
| Price Band | ₹162 – ₹171 per share |
| Issue Size | ₹926 Crore |
| Lot Size | 87 Shares |
| Minimum Investment | ~₹15,000 |
| Listing Exchanges | BSE & NSE |
Market Sentiment and Analyst Review
The market sentiment has remained relatively stable, with the market popularity indicator metric, the Grey Market Premium (GMP), hovering around ₹4.50, indicating modest listing gains. Various brokerage houses have recommended ‘subscribe; for the long term, given the company’s strong financials and rapid growth in its loan book. However, the high level of competition in the fintech industry remains a concern, with potential regulatory shifts by the RBI being a key risk factor.
