Credent Connect N Care Shares Surge Nearly 100% After 90% IPO Listing Premium

Credent Connect N Care share price opened at ₹359.10 on the NSE Emerge platform, compared with the IPO price of ₹189 per share. The stock subsequently climbed to ₹377.05, its 5% upper circuit, taking the gain over the issue price to 99.50%.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

The strong debut followed heavy demand for the healthcare logistics company’s initial public offering, which closed for subscription on August 17.

IPO Received 142 Times Subscription

Credent Connect N Care’s ₹93.9 crore IPO was subscribed 142.38 times on the final day of bidding, according to the issue details. The company had fixed the price band at ₹179-189 per share.

The public issue consisted entirely of a fresh issue of 49.68 lakh shares. At the upper end of the price band, the company was looking to raise up to ₹93.9 crore.

During the three-day bidding period, investors submitted applications for 50.74 crore shares against the 35.64 lakh shares available in the offer. The bidding took place through around 2.3 lakh applications.

The total value of bids at the upper end of the price band stood at approximately ₹9,590 crore. This was around 27 times the company’s market capitalisation at the time.

Credent Connect N Care Business

Credent Connect N Care is headquartered in Delhi and operates in the business-to-business healthcare logistics segment.

The company transports diagnostic samples from collection centres to laboratories and also handles movement of samples between healthcare facilities. Its services extend to in-vitro diagnostics companies, for which it transports reagents from carrying and forwarding locations to laboratories.

The company’s operations therefore cover logistics requirements across different points in the healthcare and diagnostics supply chain.

The sharp move in the Credent Connect N Care share price came immediately after its listing, with the stock moving from ₹359.10 at the open to ₹377.05 within the session.

Ashish Kacholia, Sunil Singhania Backed Company

Credent Connect N Care had prominent investors on its shareholder list before the listing.

Ace investor Ashish Kacholia held a 2.02% stake in the company. Abakkus Asset Manager, through the Abakkus Venture Opportunities Fund backed by Sunil Singhania, owned a 2.26% holding.

The company entered the public markets with its first IPO after attracting substantial demand across investor categories.

The stock’s debut has placed the Credent Connect N Care share price nearly twice the IPO issue price within the opening session. Its movement on NSE Emerge will now be tracked against the ₹189 issue price and the ₹377.05 level reached after the listing.