Now Reading: Credent Connect N Care IPO opens, GMP signals strong listing
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Credent Connect N Care IPO opens, GMP signals strong listing
Credent Connect N Care IPO opened for subscription on 13 August, with a price band of Rs 179 to Rs 189 per share. The company aims to raise Rs 94 crore through…
The Story in Brief
Credent Connect N Care IPO opened for subscription on 13 August, with a price band of Rs 179 to Rs 189 per share. The company aims to raise Rs 94 crore through a fresh issue of 49.68 lakh equity shares. As of day one, the IPO was subscribed 1.48 times, with the retail portion seeing 2.04 times demand.
The grey market premium (GMP) stood at Rs 72, indicating a potential listing price of Rs 261, a 38% gain over the upper band. The company, which has over 2,500 laboratory clients and 6,500 field staff, reported revenue of Rs 214.16 crore and profit after tax of Rs 18.45 crore for FY2025-26. Ace investor Ashish Kacholia holds a 2.02% stake, acquired at Rs 187 per share in July 2026. The IPO closes on 17 August, with listing expected on 20 August.
The Indian Opinion
The GMP-driven hype around Credent Connect N Care's IPO might overshadow its fundamentals. While the company claims no direct listed peer and operates in a niche healthcare logistics space, its pre-IPO investor entry at Rs 187, just below the price band, raises questions about valuation. Investors should watch subscription data closely: if institutional interest is tepid despite retail frenzy, the listing pop may be short-lived. Will the company's first-mover status translate into sustainable margins, or is the GMP just grey market froth?
Source: livemint.com
This story was synthesised by AI from the source linked above.
