OnEMI Technology Solutions share price makes a strong debut, opens 11% higher at ₹190 apiece on NSE
OnEMI Technology Solutions shares opened at ₹190, rising 11.11% above the issue price. The IPO was heavily subscribed, receiving 9.50 times bids, and raised ₹926 crore, highlighting strong institutional demand.
OnEMI Technology Solutions share price made a strong debut on the bourses today, 8 May, listing at an 11% premium over the initial public offering (IPO) price.
On NSE, OnEMI Technology Solutions share price opened at ₹190 per share, 11.11% higher than the issue price of ₹171. On BSE, the stock opened at ₹191 apiece, up 11.70%.
OnEMI Technology Solutions, which runs the digital lending platform Kissht, saw a decent response for its initial share sale, with a subscription rate of 9.50 times on the final day of bidding on Tuesday, largely due to significant interest from institutional investors.
OnEMI Technology Solutions IPO, valued at ₹926 crore, garnered bids for 37,76,71,176 shares compared to the 3,97,62,250 shares available, according to NSE data.
The segment for qualified institutional buyers (QIBs) was booked 24.87 times. The non-institutional investor (NII) portion was subscribed 6.57 times, while retail individual investors (RIIs) garnered 2.03 times bids.
OnEMI Technology Solutions secured ₹278 crore from anchor investors ahead of the share sale.
OnEMI Technology Solutions IPO price band has been fixed at ₹162-171 per share, valuing the company at nearly ₹2,900 crore at the upper band.
In the offer, not more than 50% of the shares is reserved for QIBs, not less than 15% for NII, and not less than 35%for retail investors.
OnEMI Technology Solutions IPO GMP today
OnEMI Technology Solutions IPO GMP is +27. Considering the upper end of the price band and the current premium in the grey market, the estimated listing price of OnEMI Technology Solutions share price was indicated at ₹198 apiece, which was 15.79% higher than the IPO price of ₹171.
Based on grey-market trends over the last 13 sessions, today's IPO GMP is showing an upward trend and is expected to have a solid listing. Experts indicate that the lowest GMP recorded is ₹0.00, with the highest reaching ₹28.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
OnEMI Technology Solutions IPO details
The IPO consists of a new issuance of equity shares totalling ₹850 crore, along with an offer-for-sale (OFS) of 44,39,788 equity shares, estimated at ₹76 crore at the highest price, from current shareholders. This brings the total value of the issue to ₹926 crore.
The shareholders selling their stakes include Ammar Sdn Bhd Investor, 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 funds generated from the new issuance will be allocated to support the capital growth of its subsidiary, Si Creva, to address upcoming funding needs and to serve several corporate objectives.
The main managers for this issuance include JM Financial, HSBC Securities and Capital Markets, Nuvama Wealth Management, SBI Capital Markets, and Centrum Broking, with KFin Technologies Ltd serving as the registrar.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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