Whalesbook
Mumbai, May 5, 2026: The initial public offering of OnEMI Technology Solutions Limited (Kissht) was fully subscribed by Day 3, reflecting strong investor participation led by institutional demand and supported by steady build-up across other investor categories.
The Qualified Institutional Buyer (QIB) portion remained oversubscribed, underscoring sustained institutional confidence in the offering. Participation from leading mutual funds in the anchor book, including HDFC Mutual Fund and ICICI Prudential Mutual Fund, along with global investors such as Goldman Sachs, Citigroup and WhiteOak Capital, has been a key driver of momentum in the issue.
The non-institutional investor segment also saw continued traction, while retail participation built progressively into Day 3, contributing to the issue achieving full subscription.
Market participants note that strong participation from domestic mutual funds is often viewed as an indicator of long-term investor interest. The combination of institutional backing and improving traction across investor segments reflects broad-based demand for the offering.
Leading brokerage houses have also highlighted the company’s scalable digital lending platform, expanding customer base and improving profitability metrics as key factors supporting their view on the issue. The company has demonstrated strong growth in assets under management, which increased from ₹12,679 million in FY23 to ₹59,557 million as of 9MFY26, along with a growing customer base of over 11 million.
The IPO is priced in the band of ₹162 to ₹171 per share and will remain open for subscription until May 5, 2026.
With the issue fully subscribed by Day 3, supported by strong mutual fund participation and continued investor interest across segments, the Kissht IPO is witnessing sustained momentum as it approaches closure.