Credent Connect N Care IPO is racing ahead on Day 2, with the total subscription ticking up to 6.33x by the close of trading on August 14, 2026. The issue, which opened on August 13, has seen significant momentum across all categories, with Retail investors leading the charge at 8.24x. Qualified Institutional Buyers (QIBs) have maintained their position at 4.49x, while Non-Institutional Buyers (NII) show strong participation, particularly in the bHNI category which jumped to 6.13x.

The intra-day timeline for Day 2 shows consistent strength, with the total subscription standing at 6.33x as of 06:45 IST. This marks a substantial jump from the earlier snapshot of 5.03x at 05:45 IST, indicating robust investor appetite for this healthcare logistics player. Notably, NII (bHNI) jumped +43.6% today (from 4.27x to 6.13x), and Retail jumped +34.4% today (from 6.13x to 8.24x).

Subscription Status

The following table highlights the subscription progression from Day 1 to Day 2:

Intra-day timeline on 14-08-2026

Retail investors are currently the most enthusiastic segment, having subscribed 8.24x, nearly triple their Day 1 figure. QIBs have also more than quadrupled their Day 1 subscription, moving from 1.00x to 4.49x. The bHNI category has seen a sharp rise from 1.78x to 6.13x, reflecting growing interest from high-net-worth individuals.

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 employs 2589 riders. The company is led by MD Tarun Sharma and CFO Karan Sharma.

Financial Highlights

The company has shown significant revenue growth in recent years. Below are the key financial figures:

Note: FY 2026 figures are consolidated; FY 2024 and FY 2025 are standalone.

Revenue from operations jumped from ₹77.94 crores in FY 2025 to ₹214.16 crores in FY 2026, accompanied by a rise in total profit from ₹2.25 crores to ₹18.45 crores. Total equity also increased significantly to ₹43.79 crores in FY 2026.

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, primarily for trade receivables and funding day-to-day operations.
• Investment in wholly owned subsidiary for capital expenditure requirements for machinery: ₹3.00 crores to finance capital expenditure for procuring sonography machines and digital X-ray machines.
• To meet Working Capital Requirements: ₹37.00 crores towards funding long-term working capital requirements for executing increased order volumes, high inventory levels, high debtors, and advance payments to suppliers.
• Repayment and/or prepayment of borrowings: ₹6.00 crores to repay in part or full certain borrowings availed from lenders.
• General corporate purposes: Funds will be utilized for general corporate purposes including meeting operating expenses, initial development costs, strengthening business development and marketing capabilities, and meeting exigencies.

Risk Factors

• High Customer Concentration Risk: The company derives 81.76% of revenue from its top 10 customers in Fiscal 2026 without firm commitments; loss of major customers could materially affect business.
• Dependence on Healthcare Industry Volumes: Business is dependent on diagnostic and healthcare companies' testing volumes; any reduction could materially affect results.
• Sample Transportation and Contamination Risk: Exposure to risks of loss, damage, contamination, or delay in transportation of diagnostic samples could result in client claims and reputational harm.

Key Dates

• IPO Close Date: 2026-08-17 16:00:00
• Allotment Date: 2026-08-18
• Listing Date: 2026-08-20