NSE SME Credent Connect N Care gets a strong diagnosis from the market
The counter hit a high of Rs 377.05 and a low of Rs 359.10. About 24.56 lakh shares of the company changed hands at the counter.
Credent Connect N Care's IPO was subscribed 142.37 times. The issue opened for bidding on 13 August 2026 and it closed on 17 August 2026. The price band of the IPO was fixed between Rs 179 to Rs 189 per share.
The IPO comprised fresh issue of 49,68,000 equity shares. The promoter and promoter group shareholding diluted to 63.67% from 87.52% pre-issue.
The company intends to utilize the net proceeds for investment in its wholly-owned subsidiary, Credent Healthcare, to meet its working capital requirement; Investment in its wholly owned subsidiary, Credent Healthcare Private Limited to finance its capital expenditure requirements for machinery; to meet working capital requirements; repayment and/or repayment, in full or part, of borrowing availed by the company and general corporate purposes.
Ahead of the IPO, Credent Connect N Care on 12 August 2026, raised Rs 26.53 crore from anchor investors. The board allotted 14.04 lakh shares at Rs 189 per share to 10 anchor investors.
Credent Connect N Care is a healthcare services provider offering integrated logistics, workforce, and technology-enabled solutions to diagnostic labs, IVD and pharmaceutical companies, clinics, and other healthcare institutions across India. Its services include home sample collection, phlebotomy teams, laboratory and paramedical staffing, and temperature-controlled, TAT-sensitive logistics for healthcare products and samples. As of March 31, 2026, the company had a total workforce of 6,338 employees across various levels of the organization, including its material subsidiary, Credent Healthcare.
The company recorded revenue from operations of Rs 214.16 crore and net profit of Rs 18.45 crore for the period ended 31 March 2026.