Onemi Technology Solutions IPO Opens April 30: Key Details, Financials, Risks & What Investors Should Know

Published on 29 Apr 2026, Wednesday

Onemi Technology Solutions Limited, a technology-driven digital lending platform, is set to launch its IPO on April 30, 2026. The company operates in India’s fast-growing fintech lending space, offering personal and business loans through a fully integrated digital ecosystem.

IPO Snapshot

IPO Opening Date: April 30, 2026 (Thursday)
IPO Closing Date: May 5, 2026 (Tuesday)
Price Band: ₹162 – ₹171 per share
Lot Size: 87 shares
Total Issue Size: ₹925.92 crore
Fresh Issue: ₹850 crore
OFS: ₹75.92 crore
Listing: NSE & BSE
Tentative Listing Date: May 8, 2026

Investor Quota

QIB (Institutional): 50%
Retail Investors: 35%
HNI/NII: 15%
sHNI: 5%
bHNI: 10%

Business Overview

Onemi Technology is a digital-first lending company providing credit solutions via its mobile app. It covers the full loan lifecycle:

Customer onboarding
AI-based underwriting
Loan disbursement
Servicing & collections

The company operates using a hybrid lending model:

On-book lending (own balance sheet)
Off-book lending (partnership with banks/NBFCs)

It has a strong nationwide presence with operations across 17,000+ pin codes.

Financial Highlights

Total Income (FY25): ₹1,352.69 Cr
PAT (FY25): ₹160.62 Cr
AUM Growth: ₹1,268 Cr (FY23) → ₹4,087 Cr (FY25)
PAT CAGR (FY23–FY25): ~141%

👉 Strong growth, but supported by high leverage and cash burn

Valuation Snapshot (At ₹171)

P/E Ratio: ~10.8x (annualised)
P/B Ratio: 0.91x
ROE: ~17.74%
RoNW: ~15.97%

👉 Valuation looks reasonable to slightly attractive, especially below book value.

Objects of the Issue

₹637.5 Cr → Capital infusion into NBFC arm (Si Creva)
Remaining → General corporate purposes
OFS → Proceeds go to selling shareholders

Important Dates

Anchor Allotment: April 29, 2026
Allotment Date: May 6, 2026
Refunds Initiation: May 7, 2026
Shares Credit: May 7, 2026

Strengths

The company claims to have built a large customer base of 63.73 million registered users and 11.17 million customers as of December 31, 2025. This growth is supported by a diversified acquisition model that includes digital channels, merchant partnerships, and a “credit QR” based offline-to-online model across over 52,000 merchants.

The company claims to use advanced risk management systems driven by artificial intelligence (AI) and machine learning across underwriting and collections. Its framework includes multiple data models and over 400 variables to assess borrower profiles, along with early warning systems to monitor portfolio risks in real time.

The company claims to operate a diversified funding model with both on-book and off-book lending structures. It works with 47 lenders, including banks and NBFCs, which helps reduce concentration risk and provides access to scalable funding sources.

The company has received credit ratings of CRISIL A-/Stable (long-term) and CRISIL A1 (short-term), along with A-/Stable ratings from other agencies such as Acuité and India Ratings. These ratings indicate its ability to access capital markets and funding at relatively stable terms.

The company claims to have a cloud-based, AI-driven technology platform that manages the entire loan lifecycle. It has developed core systems such as loan origination, loan management, and collections platforms in-house, enabling faster product deployment and operational control.

The company claims to maintain a large in-house collection infrastructure, including over 1,074 telecallers and more than 8,291 field agents covering 17,000+ pin codes. This setup is supported by a proprietary automated collection system designed to improve recovery efficiency.

The company is led by founders with over 18–20 years of experience in financial services and consulting. It is also backed by investors such as Vertex Growth Fund, which supports its growth and expansion in the digital lending space.

Risk

The company and its subsidiary have reported negative operating cash flow in recent periods. Net cash outflow stood at Rs 137.76 crore and Rs 229.42 crore for the company and its subsidiary, respectively, in the nine months ended December 31, 2025, and Rs 661.43 crore and Rs 824.99 crore, respectively, in FY25, compared to positive cash flows in FY23. This increase in outflows has been attributed to the expansion of its on-book loan portfolio, with assets under management (AUM) rising from Rs 450.57 million in FY23 to Rs 2,474.56 million in FY25. Continued negative cash flow or an inability to generate sufficient revenue to offset these outflows could impact the company’s liquidity and financial position.

The company has significant contingent liabilities that have not been provided for in its financial statements. As of December 31, 2025, these liabilities amounted to Rs 1,793.49 crore, primarily including corporate guarantees of Rs 1,734.48 crore issued on behalf of its subsidiary, along with tax-related disputes and other guarantees. Any materialisation of these liabilities could adversely impact the company’s financial condition, cash flows, and overall business operations.

A significant portion of the company’s AUM is concentrated in the southern and western regions of India. The southern region contributed Rs 1,344.88 crore (32.91%), Rs 721.22 crore (27.69%), and Rs 308.08 crore (24.30%) in FY25, FY24, and FY23, respectively, while the western region contributed Rs 1,188.16 crore (29.07%), Rs 825.60 crore (31.70%), and 451.53 crore (35.61%) during the same periods. Any adverse social, economic, political, or regulatory developments in these regions could disrupt operations or reduce demand, which may adversely affect the company’s business, financial condition, and results of operations.

The company relies on third-party software, cloud infrastructure, and fintech service providers such as AWS, FinBox, and Juspay for its operations. It also uses open-source software components, which may impose compliance obligations, including licensing and source code disclosure requirements. Any failure to comply with these licensing terms or inability to renew or access such third-party software on acceptable terms could lead to legal disputes, operational disruptions, or the need to re-engineer its platforms, which may adversely affect its business and operations.