Credent Connect lists at 90% premium on NSE SME

Credent Connect N Care's shares made a remarkable market debut on Thursday, trading at a significant 90% premium to the IPO price. Upon opening, the stock was valued at Rs 359 each, representing an impressive 89.9% increase from the issue price of Rs 189 per share. This listing performance surpassed market expectations, which had forecasted potential gains of approximately 49%.

Prior to the IPO launch, Credent Connect N Care shares were experiencing a grey market premium (GMP) of Rs 92, indicating a 49% premium over the issue price of Rs 189 per share. The company's IPO, priced at a fixed rate of Rs 189 per share, involved the issuance of an entirely new 50 lakh shares. The public issue was available for subscription from August 13 to August 17, 2026, and attracted a highly enthusiastic response from investors.

The IPO saw an exceptionally strong response, with overall subscription reaching 153.13 times. The retail investor segment was subscribed 138.86 times, while Qualified Institutional Buyers (QIB) accounted for 130.40 times subscription. Among the Non-Institutional Investors (NII) category, the portion was subscribed 216.97 times, emerging as the strongest segment.

Hem Securities acted as the book-running lead manager for the issue, while Kfin Technologies served as the registrar. The company intends to utilize the IPO proceeds for several purposes, including strengthening its working capital, funding its wholly-owned subsidiary Credent Healthcare Private Limited, meeting capital expenditure requirements, and reducing debt.

Specific allocations from the IPO proceeds include Rs 26.80 crore for the subsidiary's working capital requirements, Rs 3 crore for machinery and other capital expenditure, and Rs 37 crore for the company's own working capital needs. An additional Rs 6 crore will be used to repay borrowings, either fully or partially, with the remaining funds allocated for general corporate purposes.