Mumbai | OnEMI Technology Solutions Limited (the “Company”) has fixed the price band of Rs 162/- to Rs 171/- per Equity Share of face value Rs 1/- each for the initial public offer of its Equity Shares of face value Rs 1/- each (“IPO” or “Offer”).
The Offer of the Company will open on 30, April, 2026, for subscription and close on 05, May 2026.
Investors can bid for a minimum of 87 Equity Shares and in multiples of 87 Equity Shares thereafter.
The issued, subscribed and paid-up shared capital of the Company before the Offer comprises 118,775,420 Equity Shares of face value of Rs1 each.
The IPO is a fresh issue up to Rs 8,500.00 million and an offer-for-sale for up to 4,439,788 shares by investors - Ammar Sdn Bhd, Vertex Ventures SEA Fund III Pte. Ltd, Vertex Growth Fund Pte. Ltd, Vertex Growth Fund II Pte. Ltd, Ventureast Proactive Fund II, Endiya Seed Co-creation Fund, VenturEast Proactive Fund LLC, AION Advisory Services LLP, Ventureast Proactive Fund and VenturEast SEDCO Proactive Fund LLC.
The Net Proceeds from the Fresh Issue portion of the Offer to the extent of Rs 6,375.00 million are proposed to be utilized towards augmenting the capital base of its subsidiary, Si Creva, to meet its future capital requirements arising out of the growth of its subsidiary, Si Creva’s, business, and general corporate purposes.
The Company is a technology-enabled lender in India, primarily offering digital loans through its mobile application for various consumption and business needs. It provides swift, accessible and personalized credit solutions to support its customers throughout their financial journeys.
The Company is focused on young individuals within the mass market segment, which according to the 1Lattice Report, represents India’s emerging middle class and is aspirational, digitally connected and underpenetrated in credit. As of December 31, 2025, the Company had 63.73 million registered users and served 11.17 million customers along with a net promoter score of 95. Further, it had received a rating of 4.6 on Play Store based on over 1.25 million user reviews as of March 31, 2026. In December 2025, the company also launched its mobile application on the iOS operating system and its application marketplace. As of March 31, 2026, it had received a rating of 4.3 on App Store.
The company maintains a highly granular loan book with over 2.87 million active customers and Rs59,557.53 million in assets under management (AUM) as of December 31, 2025. In the nine months ended December 31, 2025, its customers had an average age of 32 years and a median CIBIL score of 746. Further, during the nine months ended December 31, 2025, 67.65% of its customers earned monthly incomes ranging between Rs25,000 to Rs75,000, and 63.38% of its customers resided in the top 50 cities in India.
Risk management is foundational to its business model. The Company utilises advanced data analytics, artificial intelligence (AI) and machine learning (ML) led statistical models for risk management across our processes from making credit decisions to collections.
The Company’s proprietary AI and ML algorithms utilize over 400 key data variables as of December 31, 2025 including credit history, know-your-customer (KYC) credentials, banking and transactional data and digi-data, within a secure and consent-driven environment, to enable rapid and accurate decisioning. As of December 31, 2025, the Company had employed a sophisticated underwriting framework built on 39 specialized sub-models tailored for different customer segments.
Its collections infrastructure is built on the back of its proprietary Automated Collections System (ACS), along with a team of tele-callers and on-ground fleet-on-street. The Company operates a fully tech-enabled, highly scalable, cloud-hosted lending platform, with end-to-end ownership and control of product and technology. This includes the Company’s Loan Origination System (LOS), Loan Management System (LMS) and ACS. As of December 31, 2025, the Company is supported by an in-house team of 331 engineers and product specialists.
Its AUM comprises on-book loans, loans on the balance sheet of its wholly-owned subsidiary, Si Creva (an RBI regulated middle-layer NBFC), and off-book loans, loans on the balance sheet of its lending partners.
As of December 31, 2025, the company’s lender base comprised 47 lenders including banks, NBFCs and fund houses. Its revenue from off-book loans includes sourcing fees (representing charges for originating loans through its platform), servicing fees (representing charges for managing loan servicing and collections) and other performance-linked income (representing charges based on loan performance metrics). These fees and charges are calculated in accordance with pre-agreed contractual arrangements with its lending partners and in compliance with applicable RBI regulations.
The company’s revenue from operations was Rs 15,599.00 million for the nine months ended December 31s, 2025. Its net profit was Rs 1,992.69 million for the nine months period ended December 31, 2025.
OnEMI Technology Solutions Limited (kissht) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated April 25, 2026, with the RoC (“RHP”). The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM i.e., https://www.jmfl.com/, https://www.business.hsbc.co.in/en-gb/regulations/hsbc-securities-and-capital-market, https://www.nuvamawealth.com/, https://www.sbicaps.com/ and https:// www.centrumbroking.com/, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at https:// www.kissht.com/. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 18 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
The Equity Shares have not been, and will not be, registered under the United States Securities Act of 1933 (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions as defined in and in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.
All capitalised terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.
