ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) IPO: Company Review, Subscription and Allotment Updates
OneEMI Technology Solutions Ltd (Kissht) is a 10-year-old fintech company in India. It operates two well-known brands viz; the digital lending platform (Kissht) and the payment app (Ring).
2026-04-30 — Company overview and issue details
ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) IPO (ABOUT THE COMPANY)
ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) – COMPANY BACKGROUND
OneEMI Technology Solutions Ltd (Kissht) is a 10-year-old fintech company in India. It operates two well-known brands viz; the digital lending platform (Kissht) and the payment app (Ring). Effectively, the company offers a one-stop solution to the offline and online merchants where payments are seamlessly integrated with credit solutions, EMI payments, an MSME loans. The company has close to 6.37 crore registered customers and close to 1.20 crore customers transact on a regular basis. It has built an AUM lending portfolio of close to ₹6,000 crore as of the end of 2025. It offers a mix of secured and unsecured funding options catering to the salaried and to the self-employed and businesses alike.
OneEMI Technology Solutions Ltd (Kissht) has been promoted by Ranvir Singh and Krishnan Vishwanathan. The issue is a combination of a fresh issue of shares and an offer for sale (OFS). The fresh issue proceeds will be used for boosting the capital of its subsidiary to enhance its lending book. The promoters are not participating in the OFS. The issue is being lead-managed by JM Financial, HSBC Securities, Nuvama, SBI Capital Markets, and Centrum; while KFIN Technologies Ltd (KFINTECH) are the registrars to the IPO.
HIGHLIGHTS OF THE IPO ISSUE OF ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT)
Here are the key highlights of the public issue of OneEMI Technology Solutions Ltd (Kissht).
The IPO of will be open from April 30th, 2026 to May 05th, 2026. It has a face value of ₹1 per share and IPO price band is set in range of ₹162 to ₹171 per share.
The IPO of OneEMI Technology Solutions Ltd (Kissht) will be a combination of fresh issue of shares and an offer for sale (OFS) by the non-promoter investors of the company.
The fresh issue portion comprises the issue of 4,97,07,602 shares (497.08 lakh shares), which at the upper price band of ₹171 per share translates into ₹850 crore.
The offer for sale (OFS) portion comprises the sale of 44,39,788 shares (44.40 lakh shares), which at the upper price band of ₹171 per share translates into ₹75.92 crore.
As a result, the overall IPO will comprise of a fresh issue and an offer for sale of 5,41,47,390 shares (541.47 lakh shares), which at the upper price band of ₹171 per share translates into ₹925.92 crore, which will be the total size of the issue.
Promoter holding in the company will come down due to the dilutive impact of the fresh issue; although the promoters are not participating in the OFS.
The IPO of OneEMI Technology Solutions Ltd (Kissht) will be listed on the NSE and the BSE on the IPO mainboard. Anchor allocation happened on April 29, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of OneEMI Technology Solutions Ltd (Kissht)
| Event | Tentative Date |
|---|---|
| IPO Open Date | Thursday, 30 April, 2026 |
| IPO Close Date | Tuesday, 5 May, 2026 |
| Basis of Allotment | Wednesday, 6 May, 2026 |
| Initiation of Refunds to non-allottees | Thursday, 7 May, 2026 |
| Credit of Shares to Demat | Thursday, 7 May, 2026 |
| Listing Date on NSE and BSE | Friday, 8 May, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 1,62,44,216 shares | 29.00% of total IPO size |
| QIB Shares Offered | 1,13,07,787 shares | 20.19% of total IPO size |
| NII (HNI) Shares Offered | 85,36,339 shares | 15.24% of total IPO size |
| Retail Shares Offered | 1,99,18,124 shares | 35.56% of total IPO size |
| Total Shares Offered | 5,60,06,466 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of OneEMI Technology Solutions Ltd (Kissht) for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹ 14,877 |
| Retail (Max) | 13 | 1,131 | ₹ 1,93,401 |
| S-HNI (Min) | 14 | 1,218 | ₹ 2,08,278 |
| S-HNI (Max) | 67 | 5,829 | ₹ 9,96,759 |
| B-HNI (Min) | 68 | 5,916 | ₹ 10,11,636 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 87 shares)
FINANCIAL HIGHLIGHTS OF ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT)
The table captures the key financials of OneEMI Technology Solutions Ltd (Kissht) for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 1,337.47 | 1,674.45 | 984.46 |
| Sales Growth (%) | -20.12% | 70.09% | |
| Profit after Tax (₹ in crore) | 160.62 | 197.29 | 27.67 |
| PAT Margins (%) | 12.01% | 11.78% | 2.81% |
| Total Equity (₹ in crore) | 1,005.99 | 804.57 | 566.23 |
| Total Assets (₹ in crore) | 2,701.10 | 1,796.53 | 1,275.20 |
| Return on Equity (%) | 15.97% | 24.52% | 4.89% |
| Return on Assets (%) | 5.95% | 10.98% | 2.17% |
| Asset Turnover Ratio (X) | 0.50 | 0.93 | 0.77 |
| Earnings per share (₹) | 12.79 | 15.54 | 2.50 |
| EBITDA (₹ in Crore) | N.A. | N.A. | N.A. |
| EBITDA Margins (%) | N.A. | N.A. | N.A. |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has shown a volatile trend in revenues, which has also impacted the net profit trend; although the net margins have steadily improved over the last 3 years. Broadly, there is one concern that investor must look at before going into the valuations. The level of debt is too high and the proportion of short-term debt is too high. That does mean that the company has been funding its assets through short-term debt, which can always create a cost issue in the money market.
VALUATION METRICS OF THE ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) IPO
At the IPO price of ₹171 per share, the indicative P/E comes to about 13.4X at the latest year EPS of ₹12.79 per share. The valuation does appear to be reasonable if one looks at the EPS growth potential. However, the real traction may come from the way the company leverages its network of merchants and is able to offer multiple offerings to them, so as to broaden the revenue spectrum.
Before taking an investment call, the investors must look closely at the today debt in the balance sheet and the high proportion of high-cost debt. That would be the one red-flag that investors must pay close attention to.
2026-04-30 — Anchor allocation
ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) IPO (ANCHOR ALLOCATION 29.00%)
BRIEF ON ANCHOR ALLOCATION OF ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT)
The anchor issue of OneEMI Technology Solutions Ltd (Kissht) saw a strong response on 29th April 2026 with 29.00% of the IPO size absorbed by anchors. Out of 5,60,06,466 shares (560.06 lakh shares) on offer in the IPO, anchors picked up 1,62,44,216 shares (162.44 lakh shares) accounting for 29.00% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹171 per share. This includes the face value of ₹1 per share plus a share premium of ₹170 per share. The anchor bidding opened and closed on 29th April 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of OneEMI Technology Solutions Ltd (Kissht)
| Bid Date | April 29, 2026 |
|---|---|
| Shares Offered | 1,62,44,216 shares |
| Anchor Portion Size (₹ in crore) | ₹277.78 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Jun 05, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Aug 04, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT)
On 29th April 2026, OneEMI Technology Solutions Ltd (Kissht) allotted 1,62,44,216 shares to 22 anchor investors. The allocation was done at the upper IPO price band of ₹171 per share which resulted in overall anchor allocation of ₹277.78 crore. The anchors have already absorbed 29.00% of the total issue size of ₹957.71 crore. Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹198.55 crores, or, 71.48% of the overall anchor allocation of shares, one trading day ahead of the IPO of OneEMI Technology Solutions Ltd (Kissht).
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Al Mehwar Commercial (WANDA) | 15,26,850 | 9.40% | ₹ 26.11 |
| 02 | Quant BFSI Fund | 15,26,850 | 9.40% | ₹ 26.11 |
| 03 | ACM Global Fund VCC | 15,26,850 | 9.40% | ₹ 26.11 |
| 04 | HDFC Banking & FS Fund | 15,13,626 | 9.32% | ₹ 25.88 |
| 05 | Goldman Sachs India Equity Portfolio | 12,34,443 | 7.60% | ₹ 21.11 |
| 06 | Sundaram Small Cap Fund | 11,69,628 | 7.20% | ₹ 20.00 |
| 07 | Tata Banking & FS Fund | 8,77,134 | 5.40% | ₹ 15.00 |
| 08 | HDFC Innovation Fund | 8,25,543 | 5.08% | ₹ 14.12 |
| 09 | ICICI Pru Regular Savings Fund | 7,60,206 | 4.68% | ₹ 13.00 |
| 10 | Ashoka India Equity Trust | 6,49,716 | 4.00% | ₹ 11.11 |
| Grand Total | 1,16,10,846 | 71.48% | ₹ 198.55 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.
Out of the 1,62,44,216 shares allocated to the anchors in the IPO, there were a total of 92,58,801 shares allocated to mutual funds registered with SEBI. The allocation was made to 13 mutual fund schemes across 7 AMCs. Mutual funds accounted for 57.00% of the total anchor allocation of the IPO.
There were no bids received from the life insurance companies in India. Several leading foreign portfolio investors (FPIs), P-Notes and AIFs were also active in the anchor allocation of OneEMI Technology Solutions Ltd (Kissht).
NEXT STEPS IN ONEEMI TECHNOLOGY SOLUTIONS LTD (KISSHT) IPO
Post the closure of the IPO subscription on 05th May 2026, the basis of allotment will be finalized on 06th May 2026 and the refunds will be initiated on 07th May 2026. In addition, the demat credits are expected to also happen on 07th May 2026 and the stock will list on 08th May 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 07th May 2026 under ISIN (INE12F801023).
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