Credent Connect IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 130.4x |
| NII | 216.97x |
| sNII (₹2L–₹10L) | 139.76x |
| bNII (above ₹10L) | 255.58x |
| Retail (RII) | 138.86x |
| Total | 153.13x |
Bidding day 5 · final figures at close of bidding: 20 Aug 2026, 6:30 pm IST
IPO Details
- Open Date
- 13 Aug 2026
- Close Date
- 17 Aug 2026
- Listing Date
- 20 Aug 2026
- Face Value
- ₹10
- Fresh Issue
- ₹89.13 Cr
- OFS
- ₹0 Cr
- Listing On
- NSE
- Registrar
- KFin Technologies (KFintech)
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,26,800 |
| HNI (Min) | 3 | 1,800 | ₹3,40,200 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 14,04,000 | 29.77% |
| QIB (ex-anchor) | 9,48,000 | 20.1% |
| NII | 7,08,000 | 15.01% |
| — sNII (< ₹10L) | 2,37,600 | 5.04% |
| — bNII (> ₹10L) | 4,70,400 | 9.97% |
| Retail | 16,56,000 | 35.11% |
| Total | 47,16,000 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings |
|---|---|---|---|---|---|---|
| FY 2024 | 76.02 | 2.66 | 4.3 | 13.66 | 26.41 | 6.85 |
| FY 2025 | 78.23 | 2.25 | 4.99 | 15.9 | 29.5 | 7.42 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 13.58x
- P/E (post-issue)
- 18.68x
- RoNW
- 42.13%
- RoE
- 61.81%
- RoCE
- 40%
- Debt / Equity
- 0.5
- EPS (pre-issue)
- ₹13.92
- EPS (post-issue)
- ₹10.12
- EBITDA Margin
- 13.29%
- PAT Margin
- 8.61%
- P/BV
- 5.71x
- NAV / share
- ₹33.12
- Market Cap
- ₹344.41 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Investment in the wholly owned subsidiary, Credent Healthcare Private Limited to meet its working capital requirement | ₹26.8 Cr |
| Investment in the wholly owned subsidiary, Credent Healthcare Private Limited to finance its capital expenditure requirements for machinery | ₹3 Cr |
| To meet Working Capital Requirements | ₹37 Cr |
| Repayment and/or repayment, in full or part, of borrowing availed by the Company | ₹6 Cr |
| General corporate purposes | ₹8.92 Cr |
| Issue Expenses | ₹12.17 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Lead Manager Fees including underwriting commission | ₹6.65 Cr |
| Fees Payable to Registrar to the Issue | ₹0.03 Cr |
| Fees Payable for Advertising and Publishing Expenses | ₹0.08 Cr |
| Fees Payable to Regulators including Stock Exchanges | ₹0.13 Cr |
| Payment for Printing & Stationery, Postage | ₹0.01 Cr |
| Fees Payable to Auditor, Legal Advisors, Chartered Engineer, and Monitoring Agency, legal search report | ₹0.24 Cr |
| Fees payable for Marketing & distribution expenses Selling Commission, Brokerage, Processing Fees | ₹5.04 Cr |
Promoters & Shareholding
Promoters: <p>Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma, Tanveen</p>
- Holding (pre-issue)
- 87.64%
- Holding (post-issue)
- 63.75%
- Dilution
- 23.89%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| MINT FOCUSED GROWTH FUND PCC-CELL 1 | Other | 2,64,600 | ₹189 | 5 | 18.85% |
| ABAKKUS VENTURE OPPORTUNITIES FUND | Other | 2,64,600 | ₹189 | 5 | 18.85% |
| HEM GROWTH OPPORTUNITIES FUND | Other | 2,37,000 | ₹189 | 4.48 | 16.88% |
| MOTILAL OSWAL FINVEST LTD. | Other | 2,11,800 | ₹189 | 4 | 15.09% |
| MERU INVESTMENT FUND PCC-CELL 1 | Other | 1,59,000 | ₹189 | 3.01 | 11.32% |
| SHINE STAR BUILD-CAP PVT.LTD. | Other | 53,400 | ₹189 | 1.01 | 3.8% |
| 360 ONE LVF TREASURY SOLUTIONS FUND | Other | 53,400 | ₹189 | 1.01 | 3.8% |
| LRSD SECURITIES PVT.LTD. | Other | 53,400 | ₹189 | 1.01 | 3.8% |
| FINAVENUE CAPITAL TRUST-FINAVENUE GROWTH FUND | Other | 53,400 | ₹189 | 1.01 | 3.8% |
| RELIGO COMMODITIES VENTURES TRUST-RELIGO COMMODITIES VENTURE FUND | Other | 53,400 | ₹189 | 1.01 | 3.8% |
Anchor bidding took place on 12 Aug 2026. Anchor lock-in: 50% of shares unlock on 17 Sept 2026, the remainder on 16 Nov 2026.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Credent Connect IPO
The Credent Connect SME IPO runs from 13 Aug 2026 to 17 Aug 2026, offered at a price band of ₹179–189 per share, and is set to list on NSE. The company is looking to raise ₹93.9 crore through the offer. Retail investors bid in lots of 600 shares, a minimum application of ₹2,26,800.
Issue structure
The IPO is structured entirely as a fresh issue of ₹89.13 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward to meet working capital requirements (₹37 crore), alongside investment in the wholly owned subsidiary, credent healthcare private limited to meet its working capital requirement (₹26.8 crore). In all, 6 objects are disclosed — the full break-up is in the table above.
Financials
In FY2025, Credent Connect reported revenue of ₹78.23 crore and a net profit of ₹2.25 crore. Revenue grew from ₹76.02 crore in FY2024 to ₹78.23 crore in FY2025 (+3.0%). Net worth stood at ₹15.9 crore at the end of FY2025.
Valuation
At the upper band, the issue is priced at 18.68× post-issue earnings and 5.71× book value, against a return on net worth of 42.13% and a debt-to-equity ratio of 0.5. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma, Tanveen</p>. Promoter holding stands at 87.64% before the issue and comes down to 63.75% after listing.
Grey market premium (GMP)
In the unofficial grey market, Credent Connect shares are quoted at a premium of ₹92 implying an expected listing around ₹281, about +48.7% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Credent Connect IPO was subscribed 153.13 times overall. The strongest demand came from non-institutional investors (NII) at 216.97 times, with qualified institutional buyers (QIB) at 130.4× and retail investors at 138.86×.
Listing performance
Credent Connect listed on 20 Aug 2026 at ₹359.1, a premium of +90.0% over the issue price of ₹189.
What to weigh
When evaluating the Credent Connect IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Credent Connect
Credent Connect N Care Limited operates in the transportation and logistics industry, delivering specialized supply chain and distribution services across multiple sectors. The company offers a broad portfolio of services, including logistics management, cold chain transportation, warehousing, courier solutions, and end-to-end supply chain support. Its operations cater to industries such as healthcare, e-commerce, diagnostics, and corporate support services. As a business-to-business (B2B) service provider, Credent integrates logistics expertise with technology-driven solutions to support efficient movement of goods, medical supplies, and healthcare-related products across India. In the healthcare segment, the company provides specialized logistics services for transporting diagnostic samples from collection centers to laboratories, as well as between healthcare institutions. It also supports in-vitro diagnostics (IVD) companies by managing the movement of reagents from carrying and forwarding (C&F) facilities to laboratories. Credent also operates C3 Post , a technology-enabled courier aggregation platform that offers extensive pan-India coverage and streamlined shipping solutions for businesses handling bulk consignments. Competitive Strengths: Diversified healthcare logistics and integrated supply chain capabilities Long-standing relationships with a growing client base Experienced leadership team with industry expertise Strong nationwide operational network and market presence
Credent Connect — Contact Details
- Registered office
- B-3, Second Floor,, Nimri Commercial Complex,, Ashok Vihar, Phase-4,, Delhi, New Delhi, 110052
- Phone
- +91-9971777199
- cs@c3logistics.co.in
- Website
- c3logistics.co.in/
- Registrar (IPO queries)
- credentconnect.ipo@kfintech.com
Frequently asked questions
- What is the Credent Connect IPO price band?
- The Credent Connect IPO price band is ₹179 to ₹189 per share, with a lot size of 600 shares.
- What was the Credent Connect IPO GMP before listing?
- The final grey market premium recorded before the Credent Connect IPO listed was ₹92. The IPO listed on 20 Aug 2026 at ₹359.1, +90.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Credent Connect IPO open and close?
- The Credent Connect IPO opens on 13 Aug 2026 and closes on 17 Aug 2026.
- When is the Credent Connect IPO allotment and listing date?
- Allotment is expected on 18 Aug 2026. The shares are scheduled to list on 20 Aug 2026 on NSE.
- How many times was the Credent Connect IPO subscribed?
- The Credent Connect IPO was subscribed 153.13 times in total across all investor categories.
- What is the reservation split in the Credent Connect IPO?
- Of the total shares offered, retail investors get 35.11%, QIBs 20.1% (plus 29.77% anchor), non-institutional investors 15.01%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Credent Connect and what is their holding?
- The promoters are <p>Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma, Tanveen</p>. Promoter holding is 87.64% before the issue and 63.75% after listing.
- What is the P/E ratio of the Credent Connect IPO?
- At the upper price band, the Credent Connect IPO is valued at 13.58× pre-issue earnings and 18.68× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Credent Connect IPO?
- The net proceeds go primarily toward to meet working capital requirements, among 6 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Credent Connect IPO?
- The book-running lead manager is Hem Securities Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Credent Connect a Mainboard or SME IPO?
- Credent Connect is an SME IPO, listing on NSE (SME platform).