OnEMI Technology Solutions Ltd, which operates the digital lending platform Kissht, saw its initial public offering (IPO) subscribed by 24% on the first day of bidding, which took place on April 30, 2023. The IPO received bids for 94,33,584 shares against 3,97,62,250 shares on offer, according to data from the National Stock Exchange (NSE). The subscription was notably strong among Qualified Institutional Buyers (QIBs), who subscribed 66% of their allocated shares, while non-institutional investors and Retail Individual Investors (RIIs) saw subscriptions of 10% and 6%, respectively. The IPO is valued at ₹926 crore (approximately $112 million USD) and is set to close on May 5. The price band for the shares has been fixed at ₹162-171 each, positioning the company at nearly ₹2,900 crore (approximately $350 million USD) at the upper end of the band. The issue includes a fresh equity share offering of ₹850 crore and an offer-for-sale (OFS) of 44,39,788 equity shares worth ₹76 crore from existing shareholders. Proceeds from the fresh issue will be utilized to enhance the capital base of its subsidiary Si Creva to meet future funding needs, alongside general corporate purposes.