• IPO and capitalisation: ONeMI Technology Solutions is launching a ₹926 crore IPO (comprising an ₹850 crore fresh issue and a ₹76 crore offer for sale) mainly to capitalise its 100% NBFC subsidiary, SI-Creva, and fund tech and AI capabilities.
• Lending model: The platform finances roughly 50% of loans on-book through its NBFC subsidiary and 50% off-book with partner capital, where it earns a lifecycle fee and provides a 5% first loss default guarantee.
• Product mix diversification: Unsecured personal loans constitute 94.2% of the portfolio and grow at roughly 60% per annum, while secured loans (Loan Against Property) have expanded from 2.4% to 5.8% of the book over nine months.
• Branch network strategy: Unsecured personal loans will remain entirely digital with no physical branches, whereas ground branches will be set up exclusively for secured products requiring physical collateralization and lien registration.
• Geographical concentration: South and West India generate roughly 62% of business because underwriting specifically targets digitally savvy urban populations, with the top 50 to 100 centers offering 60% to over 85% of market opportunity.