Ashish Kacholia-owned Credent Connect N Care IPO booked 3.04x so far on Day 2; Check 10 key things to know

Credent Connect N Care IPO opens for subscription today , (Thursday, 13 August). With more than 14 years of experience in healthcare logistics, Credent Connect N Care has developed a nationwide network serving diagnostic laboratories, hospitals and healthcare enterprises. The company is associated with over 2,500 laboratories and has a field force of more than 6,500 professionals across India, enabling it to provide last-mile healthcare logistics and sample collection services at scale.

The company's technology-driven platform manages multiple stages of the healthcare sample journey, including booking and assigning collections, sample collection, preservation, transportation, delivery and tracking.

Credent Connect N Care also offers temperature-controlled logistics and cold-chain solutions, including capabilities to maintain the critical 2–8°C temperature range required for various diagnostic and healthcare samples.

Operating at the intersection of healthcare, logistics and technology, the company focuses on last-mile phlebotomy and healthcare sample transportation. It claims to have no direct listed peer and aims to become India's first listed dedicated healthcare logistics and last-mile phlebotomy platform.

The company is positioned to benefit from the growing adoption of diagnostic testing and home sample collection, which is increasing the need for reliable and efficient healthcare sample movement nationwide.

For FY2025-26, Credent Connect N Care reported revenue of ₹214.16 crore and EBITDA of ₹28.46 crore. Its profit after tax stood at ₹18.45 crore, while net worth was ₹43.8 crore.

According to the company's red herring prospectus (RHP), Abakkus Venture Opportunities Fund held a 1.21% stake, while ace investor Ashish Kacholia owned a 2.02% stake in the company.

Both investors acquired their respective holdings at ₹187 per share in July 2026, ahead of the IPO. At the pre-IPO stage, Ashish Kacholia was the largest investor among the prominent shareholders, with a 2.02% stake, followed by Abakkus Venture Opportunities Fund with 1.21%.

Meanwhile, Covivial Advisors LLP, backed by Navin Agarwal, held a 1.07% stake in the company.

Here are the 10 key things to know about Credent Connect N Care IPO

Credent Connect N Care IPO GMP today: Credent Connect N Care IPO GMP today is +75. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Credent Connect N Care share was ₹264 apiece, which is 39.68% higher than the IPO price of ₹189.

According to recent grey market activity over the past four trading sessions, the IPO's Grey Market Premium (GMP) is showing an upward trend today, suggesting that a solid listing is anticipated. Throughout this timeframe, the GMP fluctuated between a low of ₹0.00 and a peak of ₹72, as noted by experts.

Credent Connect N Care IPO date: The IPO opens for subscription on Thursday, 13 August, and closes on Monday, 17 August.

Credent Connect N Care IPO price band: The IPO price band has been fixed in the range of ₹179 to ₹189 per equity share of face value of ₹10.

Credent Connect N Care IPO lot size: The IPO lot size is 600 equity shares and in multiples of 600 equity shares thereafter.

Credent Connect N Care IPO subscription status: Credent Connect N Care IPO subscription status was 3.04x on day 2, so far. The retail portion is subscribed 4.55x, and NII portion has been booked 2.24x, QIBs portion received 1x bids.

The company has received bids for 1,00,66,800 shares against 33,12,000 shares on offer at 10:21 IST, according to chittorgarh.com

Anchor investors: Before its IPO, Credent Connect secured ₹26.53 crore from anchor investors by issuing 14.04 lakh equity shares at a price of ₹189 each. Among its anchor investors were Sunil Singhania's Abakkus Venture Opportunities Fund, Motilal Oswal Finvest, Hem Growth Opportunities Fund, Mint Focused Growth Fund, 360 ONE LVF Treasury Solutions Fund, LRSD Securities, and others.

Credent Connect N Care IPO details: The firm intended to generate ₹94 crore via the IPO, solely through a new issuance of 49,68,000 equity shares.

Credent Connect N Care IPO objective: The net funds acquired will be used for investments in subsidiaries, repayment of debts, fulfilling working capital needs, and other general corporate activities.

Credent Connect N Care IPO listing date and allotment details: Tentatively, Credent Connect N Care IPO basis of allotment of shares will be finalised on Tuesday, 18 August and the company will initiate refund on Wednesday, 19 August, while the shares will be credited to the demat account of allottees on the same day. Credent Connect N Care IPO shares are likely to be listed on BSE and NSE on Thursday, 20 August.

Lead Manager and Registrar of Credent Connect N Care IPO: Hem Securities serves as the exclusive book-running lead manager, and Kfin Technologies functions as the registrar for the issue.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.