Shares of Credent Connect N Care made a blockbuster market debut on Thursday, listing at a 90% premium over the IPO price. The stock opened at Rs 359 apiece on the NSE SME platform, up 89.9% from the issue price of Rs 189.
The listing surpassed unlisted market expectations, which had indicated potential listing gains of around 49%. Ahead of the debut, the company’s shares commanded a grey market premium (GMP) of Rs 92, or around 49%, over the issue price of Rs 189 per share.
The Rs 93.90-crore Credent Connect IPO was offered at a fixed price of Rs 189 per share and comprised an entirely fresh issue of 50 lakh shares.
The public issue opened for subscription from August 13 to August 17, 2026, and attracted an exceptionally strong response from investors. The issue was subscribed 153.13 times overall. The retail investor portion was subscribed 138.86 times, while the Qualified Institutional Buyers (QIB) category saw 130.40 times subscription. The Non-Institutional Investors (NII) category emerged as the strongest segment, with the portion subscribed 216.97 times.
Hem Securities served as the book-running lead manager for the issue, while Kfin Technologies is the registrar.
The company plans to deploy the IPO proceeds towards strengthening its working capital, funding its wholly owned subsidiary Credent Healthcare Private Limited, meeting capital expenditure requirements and reducing debt.
Around Rs 26.80 crore is proposed to be invested in the subsidiary for its working capital requirements, while Rs 3 crore has been earmarked for machinery and other capital expenditure.
The company has also allocated Rs 37 crore towards its own working capital requirements. Another Rs 6 crore will be used to repay borrowings, either fully or partially, with the balance intended for general corporate purposes.
The deployment of funds is aimed at supporting day-to-day operations, improving financial flexibility and providing capital for future expansion.
Ahead of the public issue, Credent Connect raised Rs 26.54 crore from anchor investors. The anchor bidding took place on August 12, 2026, a day before the IPO opened for subscription.
About Credent Connect N Care
Credent Connect N Care Limited is an integrated healthcare services and logistics company that provides technology-enabled operational, workforce and supply-chain solutions to healthcare institutions across India.
The company primarily follows a B2B business model, serving diagnostic laboratories, IVD companies, pharmaceutical firms, hospitals, clinics and other healthcare enterprises.
Its portfolio spans several healthcare segments, including home sample collection through trained phlebotomists, laboratory and phlebotomy manpower services, diagnostic and paramedical services, healthcare logistics, operations and supply-chain management, corporate wellness programmes and technology-enabled courier aggregation through its C3 Post platform.
The company also handles the transportation of diagnostic samples, medical supplies, reagents and other healthcare consignments through temperature-controlled and time-sensitive logistics, including cold-chain transportation.
