Credent ConnectIPO Review — Financials, Valuation & Peers
A data-only look at the Credent Connect IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
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.
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%
Analysis in brief
Anchor book
10 anchor investors participated in the Credent Connect IPO ahead of the public offer, together allocated ₹26.54 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to MINT FOCUSED GROWTH FUND PCC-CELL 1 (₹5 crore), ABAKKUS VENTURE OPPORTUNITIES FUND (₹5 crore) and HEM GROWTH OPPORTUNITIES FUND (₹4.48 crore). Investor categories represented include Other. The lock-in on half the anchor shares ends on 17 Sept 2026, with the remainder locked until 16 Nov 2026.
Margin and return profile
The offer document gives a read on the operating engine behind the issue. Credent Connect operates at an EBITDA margin of 13.29% and a net (PAT) margin of 8.61% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 40% and a return on equity (RoE) of 61.81%. At the upper band, the post-issue market capitalisation works out to about ₹344.41 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
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.
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.
Frequently asked questions
- 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%.
- 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.