OnEMI Technology Solutions Share Price: The initial public offer of OnEMI Technology Solutions Ltd, which operates digital lending platform Kissht, received 9.50 times subscription on the final day of bidding on Tuesday (May 5), mainly supported by strong participation from institutional buyers.
The Rs 926-crore IPO received bids for 37,76,71,176 shares against 3,97,62,250 shares on offer, as per NSE data.
The category for qualified institutional buyers (QIBs) attracted 24.87 times subscription. The quota for non-institutional investors received 6.57 times the subscription, while the portion meant for retail individual investors (RIIs) subscribed 2.03 times.
OnEMI Technology Solutions Ltd on Wednesday said it has mobilised Rs 278 crore from anchor investors.
The price band has been fixed at Rs 162-171 per share, valuing the company at nearly Rs 2,900 crore at the upper band.
The IPO has a fresh issue of equity shares aggregating to Rs 850 crore and an offer for sale (OFS) of 44,39,788 equity shares worth Rs 76 crore at the upper end by existing shareholders. This takes the total issue size to Rs 926 crore.
Proceeds from the fresh issue will be used to augment the capital base of its subsidiary Si Creva to meet future funding requirements, along with general corporate purposes.
Founded in 2016, Kissht provides digital credit solutions focused on young consumers in the mass market segment.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
