Credent Connect N Care IPO listing: Ashish Kacholia-owned Credent Connect N Care made a stellar debut on the NSE SME on Thursday, 20 August. Credent Connect shares were listed at ₹359.10 on the NSE SME, a premium of 90% over the issue price of ₹189.
Soon after a bumper listing, the stock extended gains to hit its upper circuit of ₹377.05, jumping almost 100% from the issue price.
The stock’s listing exceeded grey market expectations, with the grey market premium (GMP) on Credent Connect N Care shares, as per grey market sources, at ₹ 92 on Thursday morning, suggesting the stock could list at ₹281, at a premium of 48.68%.
Credent Connect N Care is a healthcare services provider engaged in delivering integrated logistics, workforce solutions, and technology-enabled support to healthcare institutions across India.
Credent Connect N Care’s consolidated revenue from operations in FY26 was ₹214.16 crore, while profit attributable to parent equity shareholders stood at ₹18.45 crore.
Several prominent investors, including Abakkus Venture Opportunities Fund, founded by Sunil Singhania and ace investor Ashish Kacholia, have stakes in the company.
As on the date of filing of the Red Herring Prospectus (RHP) of the issue, Abakkus Venture Opportunities Fund held 1,60,800 shares, or 1.21% pre-issue paid-up share capital, while Ashish Kacholia held 2,67,600 shares, or 2.02% stake, in Credent Connect N Care.
Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma, and Tanveen are the promoters of the company. As of the date of the RHP, the promoters collectively held 1,16,01,000 shares of the company, representing 87.52% of the company’s pre-issue paid-up equity share capital.
Credent Connect N Care IPO details
Credent Connect’s IPO was a book-built issue of ₹93.90 crore. It was an entirely new issue of 49,68,000 shares. The IPO price band was fixed at ₹179 to ₹189 per equity share, with a face value of ₹10.
The SME IPO opened on Thursday, 13 August, and concluded on Monday, 17 August, with an overall subscription of nearly 108 times. Credent Connect N Care IPO share allotment was finalised on Tuesday.
The company intends to use the net proceeds from the issue to meet its working capital requirements, purchase machinery for its wholly-owned subsidiary, Credent Healthcare Private Limited, repay borrowings availed by it, and for general corporate purposes.
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