Overview
- - OnEMI Technology Solutions opened its three-day IPO on Thursday, April 30, offering shares at ₹162–₹171 and targeting about ₹925–₹926 crore, with subscriptions set to close on May 5.
- - Ahead of the launch, the company raised ₹277.8 crore by allotting 1.62 crore shares to anchor investors at ₹171, drawing domestic mutual funds and global names such as Goldman Sachs, BNP Paribas, and Citigroup.
- - Following Thursday's opening, bids covered roughly 20% of the offer by early afternoon, with qualified institutions near 58% of their quota and retail participation around 4–5%.
- - Most of the fresh capital will go to its lending arm, Si Creva, to strengthen the balance sheet and support future loan growth, with a smaller portion for general corporate needs.
- - Brokerages cite strong recent profits and scale but flag risk from a loan book that is about 94% unsecured and gross bad loans near 2.9%–3%, while grey-market quotes of roughly ₹3.5–₹5 suggest only a small listing premium.