Credent Connect N Care shares made a strong market debut on Thursday on the NSE SME platform. The stock listed at Rs 359 per share, representing a 90% premium over the IPO price of Rs 189. The listing reflected the robust demand seen during the public offer and came in well ahead of pre-listing grey market indications.
Ahead of the market opening, the shares had a grey market premium of Rs 92, or approximately 49%, over the issue price. The actual listing significantly exceeded that level, marking one of the notable SME platform debuts of the session. Investors looking to track such listings can open demat account with a registered depository participant to participate in future SME IPO opportunities.
IPO Subscription Details
The Rs 93.90-crore Credent Connect IPO was a fixed-price issue at Rs 189 per share, consisting entirely of a fresh issue of 50 lakh shares. The issue was open for subscription from August 13 to August 17, 2026.
The public issue received an exceptionally strong response across all investor categories, with an overall subscription of 153.13 times. The category-wise breakdown is as follows:
| Investor Category | Subscription (Times) |
|---|---|
| Retail Individual Investors | 138.86x |
| Qualified Institutional Buyers (QIB) | 130.40x |
| Non-Institutional Investors (NII) | 216.97x |
| Overall | 153.13x |
Prior to the public issue opening, the company raised Rs 26.54 crore from anchor investors on August 12, 2026. Hem Securities served as the book-running lead manager for the issue, while Kfin Technologies acted as the registrar.
Planned Use of IPO Proceeds
Credent Connect has outlined a specific allocation plan for the funds raised through the public issue. The proceeds are intended to support working capital requirements, capital expenditure, debt repayment, and investment in a subsidiary. The detailed allocation is as follows:
- Rs 37 crore allocated for the company’s own working capital requirements
- Rs 26.80 crore to be invested in its wholly owned subsidiary, Credent Healthcare Private Limited, for working capital needs
- Rs 3 crore earmarked for machinery and other capital expenditure
- Rs 6 crore designated for full or partial repayment of borrowings
- The remaining amount to be used for general corporate purposes
The company stated that these allocations are aimed at supporting day-to-day operations and improving overall financial flexibility. For investors monitoring such stock investment opportunities in the SME segment, the fund utilisation plan forms a key part of the disclosure made in the offer documents.
About Credent Connect N Care Limited
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 operates on a B2B business model.
Its client base includes diagnostic laboratories, in-vitro diagnostics (IVD) companies, pharmaceutical firms, hospitals, clinics, and other healthcare enterprises. The company’s service offerings span several segments:
- Home sample collection through trained phlebotomists
- Laboratory and phlebotomy manpower services
- Diagnostic and paramedical services
- Healthcare logistics
- Operations and supply-chain management
The company’s listing on the NSE SME platform adds to the growing roster of healthcare-focused businesses entering the public markets. Investors using an established trading platform can monitor the stock’s price movements and volumes on the NSE SME segment following its debut.
Summary: Credent Connect N Care shares listed at Rs 359 on the NSE SME platform, a 90% premium over the IPO price of Rs 189, after the issue was subscribed 153.13 times overall.
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