Credent Connect N Care Ltd. made a strong stock market debut on the NSE SME platform on Thursday, Aug. 20, listing at Rs 359.10 per share, a 90% premium to its issue price of Rs 189.
The stock extended gains after listing and hit its upper circuit of Rs 377.05. At 10:35 a.m., Credent Connect N Care shares were trading at their intraday high of Rs 377.05, up Rs 17.95, or 5%, from the opening price of the stock. At that level, the stock was Rs 188.05, or 99.5%, above its IPO issue price.
The listing was also well above grey market indications. Credent Connect N Care shares commanded a grey market premium, or GMP, of Rs 92 on Thursday morning, according to grey market sources. The premium had indicated a likely listing price of around Rs 281, or 48.68% above the issue price.
Credent Connect N Care IPO Listing on NSE
Photo Credit: (Photo: NSE)
About The Company
Credent Connect N Care provides healthcare services, including integrated logistics, workforce solutions and technology-enabled support to healthcare institutions across India.
The company reported consolidated revenue from operations of Rs 214.16 crore in FY26, while profit attributable to equity shareholders of the parent stood at Rs 18.45 crore.
ALSO READ: 'Small-Cap Bear Market Has Ended': Market Veteran Ashish Kacholia After India-US Trade Deal
Credent Connect N Care Ltd. Investors
Prominent investors including Sunil Singhania-founded Abakkus Venture Opportunities Fund and investor Ashish Kacholia held stakes in the company ahead of the IPO.
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. Kacholia held 2.68 lakh shares, or a 2.02% stake.
Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma and Tanveen are the promoters of Credent Connect N Care.
As of the date of the RHP, the promoters collectively held 1.16 crore shares, representing 87.52% of the company's pre-issue paid-up equity share capital.
ALSO READ: After Ashish Kacholia, Vijay Kedia Buys Stake In This Small-Cap IT Firm — Check Details
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
