Credent Connect N Care shares delivered exceptional market performance on their debut, nearly doubling to hit the 5% upper circuit shortly after listing on the NSE SME platform. The shares listed at ₹359.10 per share, representing a 90% premium over their IPO price of ₹189, and subsequently hit the upper circuit to quote at ₹377.05, taking post-listing gains to 99.50%. This performance significantly exceeded earlier expectations, with the grey market premium of ₹92 indicating a potential listing gain of nearly 49% before the actual debut performance. The stock extended gains after listing and hit its intraday high of ₹377.05 at 10:35 a.m., up ₹17.95 from the opening price. According to Business Standard, about 24.56 lakh shares changed hands at the counter during the trading session.
The healthcare logistics services provider achieved remarkable investor response with its initial public offering, which was subscribed 142.37 times on August 17, the final day of bidding. According to latest reports, the momentum picked up significantly after 2 pm, with the total subscription ticking up by 443.5% from the morning snapshot. The final day was marked by dramatic spikes in the latter half of the trading window, with QIB investors leading the charge with a +1859.9% jump from 6.49x to 127.20x, while NII (bHNI) and Retail also saw substantial increases of +361.6% and +260.3% respectively. The IPO opened for bidding on August 13, 2026 and closed on August 17, 2026 with a price band fixed between ₹179 to ₹189 per share. The bids were worth ₹9,590 crore at the higher end of the price range, representing 27 times higher than the company's market capitalisation.
The ₹93.90-crore IPO was offered at a fixed price of ₹189 per share and comprised an entirely fresh issue of 49.68 lakh shares. As reported by Moneycontrol, investors placed bids for 50.74 crore equity shares during the three-day bidding period, against the offer size of 35.64 lakh shares, through 2.3 lakh applications. Non-institutional investors led the subscription numbers with 216.97 times their allotted quota, emerging as the strongest segment, while the retail investor portion was subscribed 138.86 times and the Qualified Institutional Buyers (QIB) category saw 130.40 times subscription. The company's promoter and promoter group shareholding diluted to 63.67% from 87.52% pre-issue. Ahead of the IPO, Credent Connect N Care raised ₹26.53 crore from anchor investors on August 12, 2026, with the board allotting 14.04 lakh shares at ₹189 per share to 10 anchor investors.
The company demonstrated remarkable financial growth with revenue from operations surging to ₹214.16 crores in FY 2026 from ₹77.94 crores in FY 2025, representing a 175% year-on-year growth. Total profit also jumped significantly to ₹18.45 crores in FY 2026 compared to ₹2.25 crores in FY 2025. As of March 31, 2026, the company employed 6,338 employees across various levels of the organization, including its material subsidiary, Credent Healthcare. The company provides comprehensive operational and logistics services to diagnostic laboratories, In Vitro Diagnostics companies, pharmaceutical companies, clinics, and other healthcare enterprises, handling temperature-controlled and time-sensitive logistics including cold-chain transportation. Its services include home sample collection, phlebotomy teams, laboratory and paramedical staffing, and temperature-controlled, TAT-sensitive logistics for healthcare products and samples.
Ace investor Ashish Kacholia owned a 2.02 percent stake in Credent Connect N Care, while Sunil Singhania's Abakkus Asset Manager, through its Abakkus Venture Opportunities Fund, held a 2.26 percent stake in the company. According to the company's Red Herring Prospectus, Abakkus Venture Opportunities Fund held 1.61 lakh shares, representing 1.21% of the pre-issue paid-up equity share capital, while Kacholia held 2.68 lakh shares, or a 2.02% stake. Hem Securities served as the book-running lead manager for the issue, while Kfin Technologies is the registrar. The company will utilize ₹29.8 crore of the proceeds for working capital requirements and capital expenditure on machinery for its subsidiary, Credent Healthcare. Additionally, ₹37 crore will be used for working capital requirements, ₹6 crore for debt repayment, and the remaining funds for general corporate purposes. The Delhi-headquartered company provides business-to-business healthcare logistics services, including transportation of diagnostic samples from collection points to laboratories and between healthcare facilities, as well as services to in-vitro diagnostics companies for reagent movement.
