Credent Connect N Care’s IPO concluded on Day 3 with a staggering overall subscription of 149.36x, reflecting intense investor demand for the healthcare logistics provider. The final day witnessed explosive momentum, particularly in the Qualified Institutional Buyer (QIB) segment, which skyrocketed by 1859.9% intraday from 6.49x to 127.20x. Non-Institutional Investors (NII) and Retail investors also contributed significantly, pushing the total well beyond the initial close figures. With the subscription window shut, attention now turns to the allotment process and eventual listing.

Final Subscription Status

The IPO saw accelerating interest throughout the three-day window, culminating in a highly oversubscribed issue. The table below outlines the day-wise progression:

Intra-day timeline on 17-08-2026

The final day was marked by dramatic spikes in the latter half of the trading window:

The momentum picked up pace significantly after 2 pm, with the total subscription ticking up by 443.5% from the morning snapshot. QIB investors led the charge with a +1859.9% jump today (from 6.49x to 127.20x), while NII (bHNI) and Retail also saw substantial increases of +361.6% and +260.3% respectively.

Category-wise Breakdown

• NII (bHNI): Led the subscription with 256.52x, indicating massive interest from big high-net-worth individuals.
• Retail: Subscribed at 133.49x, reflecting strong retail participation.
• NII (sHNI): Booked 136.22x, showing significant demand from small high-net-worth individuals.
• QIB: Institutional investors subscribed at 127.20x after a sharp intraday rise.

About the Company

Credent Connect N Care is a healthcare services provider engaged in delivering integrated logistics, workforce solutions, and technology-enabled support to healthcare institutions across India. Founded in 2015, the company provides comprehensive operational and logistics services to diagnostic laboratories, In Vitro Diagnostics (IVD) companies, pharmaceutical companies, clinics, and other healthcare enterprises. Its offerings include home sample collection through trained phlebotomists, Operations & Supply Chain Services, deployment of skilled laboratory technicians, and specialized inter-state and intra-state logistics services. As of June 30, 2026, the company employed 2589 riders. The management team includes MD Tarun Sharma and CFO Karan Sharma.

Financial Highlights

The company has shown significant revenue growth over the past two years. Below are the consolidated financial highlights for the last three fiscal years:

Revenue from operations surged to ₹214.16 crores in FY 2026 from ₹77.94 crores in FY 2025. Total profit also jumped significantly to ₹18.45 crores in FY 2026 compared to ₹2.25 crores in FY 2025.

Objects of the Issue

The proceeds from the IPO will be utilized for the following purposes:

• Investment in wholly owned subsidiary for working capital requirement: ₹26.80 crores to meet working capital requirements for trade receivables and day-to-day operations.
• Investment in wholly owned subsidiary for capital expenditure requirements for machinery: ₹3.00 crores for procuring sonography and digital X-ray machines.
• To meet Working Capital Requirements: ₹37.00 crores for long-term working capital needs including inventory and debtors.
• Repayment and/or prepayment of borrowings: ₹6.00 crores to reduce outstanding indebtedness.
• General corporate purposes: For operating expenses, marketing, and business development.

Risk Factors

• High Customer Concentration Risk: The company derives 81.76% of revenue from its top 10 customers without firm commitments; loss of major clients could impact performance.
• Dependence on Healthcare Industry Volumes: Business is dependent on diagnostic testing volumes and outsourcing requirements; any reduction could affect operations.
• Sample Transportation and Contamination Risk: Exposure to risks of loss, damage, or contamination during transportation could lead to client claims and reputational harm.

What's Next

• Allotment Date: 2026-08-18
• Listing Date: 2026-08-20
• Basis of Allotment: Pro-rata basis is expected given the high subscription levels, subject to SEBI guidelines.

Credent Connect N Care has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a significant step towards its public listing. The company aims to raise funds through this initial public offering, with a maximum issue size of 500,000. While specific business operations are not detailed in the current filing data, the IPO structure provides investors with key parameters including price band and lot size.

Company Overview

Credent Connect N Care is preparing for its debut on the stock exchanges. The company’s DRHP filing outlines the fundamental structure of the issue. As per the available data, the company is seeking to list its shares to raise capital, though detailed operational metrics and competitive strengths are not specified in the current dataset.

Offer Details

The IPO features a defined price band and issue size. The floor price is set at ₹179, while the ceiling price stands at ₹189. The minimum bid quantity for applicants is 1,200 shares. The issue size ranges from a minimum of 322,200 to a maximum of 500,000.

Financial Highlights

Specific financial figures such as revenue, profit trends, or key ratios are not provided in the current DRHP data extract. Investors should refer to the full DRHP document filed with SEBI for comprehensive financial statements.

Risk Factors

Material risk factors are typically outlined in the DRHP. However, specific risks are not listed in the provided data snippet. Standard IPO risks include market volatility, regulatory changes, and execution risks associated with the company's business model.

Valuation & Peer Comparison

Valuation metrics such as P/E ratios compared to peers are not available in the current data. The price band of ₹179-₹189 will determine the initial valuation upon listing.

Bottom Line

Credent Connect N Care’s IPO is in the DRHP stage with a price band of ₹179-₹189. With no subscription data yet reported (0x across QIB, Retail, and Non-Institutional categories), investors await further updates on the issue timeline and allotment process.