OnEMI Technology IPO Day 2 update: Subscription lags at 34%, GMP 2%
OnEMI Technology's IPO has received a lukewarm response with only 34% subscription as of May 4, 2026. The IPO, priced between ₹162-171 per share, will close tomorrow and is expected to list on May 8 or 9, 2026.
OnEMI Technology's initial public offering (IPO) has seen a muted response from investors, with only 34% subscription as of May 4, 2026. The three-day subscription window closes tomorrow. The IPO was subscribed to 81% in the Qualified Institutional Buyers (QIBs) segment, while non-institutional investors (NIIs) and retail investors subscribed to 23% and 12% of their reserved quotas, respectively. OnEMI's unlisted shares were trading at ₹174.75 per share, commanding a 2.2% grey market premium over the upper end of the IPO price band. The IPO comprises a fresh issue of 49.7 million equity shares worth up to ₹850 crore and an offer for sale (OFS) of 4.4 million shares. The basis of allotment is expected to be finalised on May 6, 2026, with shares likely to be credited to successful applicants' demat accounts by May 7, 2026. The stock is scheduled to list on the NSE and BSE tentatively on May 8, 2026.
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