Credent Connect N Care, a healthcare logistics firm, launched its initial public offering on August 17. The company aimed to raise up to Rs 93.9 crore by selling 49.68 lakh new shares at a price range of Rs 179 to Rs 189 each. The final bid volume was 142.38 times the issue size.
During the three‑day bidding period, investors placed bids worth Rs 9,590 crore, which is 27 times the company’s market capitalisation. The total equity shares bid were 50.74 crore, against an offer of 35.64 lakh shares. A total of 2.3 lakh applications were received.
Non‑institutional investors dominated the subscription, bidding 217.3 times their allotted quota. Retail investors bought shares 138.85 times their allocation, while qualified institutional buyers subscribed 130.39 times.
Credent Connect N Care will finalize the share allotment on August 18. The shares will start trading on the NSE Emerge platform on August 20.
Before the official listing, the shares traded in the grey market at a 29 percent premium, showing strong investor demand.
The Delhi‑based company specialises in business‑to‑business logistics for the healthcare sector. It moves diagnostic samples between collection points, laboratories, and healthcare facilities.
It also transports reagents for in‑vitro diagnostics companies from their C&F locations to labs. As of June 2026, Credent operates 97 commercial vehicles, two warehouses, and four branch offices in Mumbai, Pune, Chennai and Varanasi.
The company plans to use Rs 29.8 crore of the net proceeds for working capital and machinery investment in its subsidiary, Credent Healthcare. An additional Rs 37 crore will support working capital needs, Rs 6 crore will pay down debt, and the rest will fund general corporate purposes.
Investor Ashish Kacholia holds a 2.02 percent stake in the company, while Sunil Singhania’s Abakkus Asset Manager owns 2.26 percent through its Abakkus Venture Opportunities Fund.
Hem Securities acted as the merchant banker for the IPO.