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Credent Connect N Care
SME · NSE closed
Lists tomorrow · 20 Aug 2026
₹86
GMP* · 19 Aug, 06:20 pm
Price Band
₹179 – ₹189
Issue Size
₹93.9 Cr
1 lot at upper band
₹1,13,400
Lot Size
600
Open
13 Aug 2026
Close
17 Aug 2026
Allotment
—
Listing
20 Aug 2026
Scheduled dates
- Open13 Aug 2026
- Close17 Aug 2026
- Refund19 Aug 2026
- Demat credit19 Aug 2026
- Listing20 Aug 2026
GMP Trend*
Daily grey market premium (₹). Unofficial.
Latest GMP: ₹86 10 sessions
Subscription (times)
Latest per-category subscription · as of 17 Aug, 05:11 pm IST.
QIB 130.40x
NII 216.97x
BHNI 255.58x
SHNI 139.76x
RII 138.86x
Total 153.13x
About Credent Connect N Care
The company is a healthcare services provider engaged in delivering integrated logistics, workforce solutions, and technology-enabled support to healthcare institutions across India. The company provides comprehensive operational and logistics services to diagnostic laboratories, In Vitro Diagnostics (IVD) companies, pharmaceutical companies, clinics, and other healthcare enterprises through end-to-end solutions. The company's offerings majorly include home sample collection through trained phlebotomists; Operations & Supply Chain Services through stationed phlebotomy teams at laboratories and hospitals; deployment of skilled laboratory technicians and paramedical staff for internal operations; and specialized inter-state and intra-state logistics services. The company commenced operations in 2015 with small team of field executives and has since expanded into multiple healthcare service verticals, employing 2589 riders as of June 30, 2026.
https://c3logistics.co.in/ ↗Strengths
- Comprehensive Healthcare Ecosystem and Logistics PlatformThe company operates a comprehensive healthcare ecosystem catering to hospitals, clinics, diagnostic laboratories, IVD companies, and pharmaceutical companies. The company focuses on time-sensitive and compliance critical logistics, supported by cold chain enabled network and multimodal transportation including road, air, and onboard courier services with trained workforce across multiple cities.
- Well established relationships with clientsThe company has a client base providing repeated business with revenue generated from around 280 domestic customers including 38 customers who have associated with the company for the last three continuous years. The company maintains healthy relationships through regular communication and flexible logistics solutions ensuring samples reach destinations on time and in optimal condition.
- Leveraging the experience of our Promoters and DirectorsThe company's promoters, Chairman and Managing Director Tarun Sharma and Whole Time Director & Chief Financial Officer Karan Sharma have over 12 years and 9 years of experience each in the logistics industry. Their expertise lies in strategic planning, team management, business development, business strategy, sales management and competitive analysis.
- Widespread reach in domestic marketsThe company has operations across multiple states in India with presence spanning Maharashtra (29.40% of total revenue), Uttar Pradesh (26.83%), Delhi (10.93%), Karnataka (10.55%), Haryana (9.67%), Telangana (3.19%), and Rajasthan (3.23%) for the year ended March 31, 2026. This geographic coverage allows delivery of healthcare services and logistics solutions across a wide range of locations.
Risk Factors
- High Customer Concentration RiskThe company derives a significant portion of revenue from its top 10 customers (81.76% in Fiscal 2026) without firm commitments. The loss of any major customers could materially affect business operations and financial performance.
- Dependence on Healthcare Industry VolumesThe company's business is dependent on diagnostic and healthcare companies' testing volumes and outsourcing requirements. Any reduction in testing volumes or adverse sector developments could materially affect business and results of operations.
- Sample Transportation and Contamination RiskThe company is exposed to risks of loss, damage, contamination or delay in transportation of diagnostic samples. Such incidents could result in client claims, financial liabilities and reputational harm affecting business operations.
- Working Capital Intensive OperationsThe company's business requires significant working capital with trade receivables of ₹5,882.73 lakhs as of March 31, 2026. Any delay in receivables realization could adversely affect cash flows and liquidity.
- Large Workforce Management RiskThe company depends on a large, skilled workforce of 6,338 employees with attrition rates of 19.16% in 2026. High attrition and staffing gaps could affect service quality and client relationships.
- Contract Renewal and Termination RiskThe company's operations depend on service-level contracts subject to renewal and termination. Inability to maintain or renew contracts on favorable terms could materially affect business operations.
- Financial Indebtedness and Financing RiskThe company had total outstanding financial indebtedness of ₹2,301.24 lakhs as of June 30, 2026. Inability to obtain additional financing on favorable terms could adversely impact financial condition and growth plans.
- Seasonal Revenue FluctuationsThe company experiences seasonal fluctuations with 57.91% of revenue generated in the second half of fiscal 2026. Fixed operating costs during lower revenue periods may adversely affect profitability.
- Subsidiary Losses and Negative Net WorthThe company's subsidiaries have incurred losses in the past, with Credent Team Private Limited showing negative net worth. Continued losses may require financial support and affect consolidated results.
- Regulatory Compliance and Legal ProceedingsThe company faces outstanding legal proceedings and contingent liabilities of ₹62.11 lakhs. Past non-compliances with corporate laws could result in penalties and regulatory scrutiny affecting operations.
Objects of the Issue
- Investment in wholly owned subsidiary for working capital requirementThe company proposes to invest in Credent Healthcare Private Limited to meet its working capital requirements, primarily for trade receivables and funding day-to-day operations.26.80 crores
- Investment in wholly owned subsidiary for capital expenditure requirements for machineryThe company plans to invest in Credent Healthcare Private Limited to finance capital expenditure for procuring sonography machines and digital X-ray machines for diagnostic services.3.00 crores
- To meet Working Capital RequirementsThe company proposes to utilize funds towards funding long-term working capital requirements for executing increased order volumes, high inventory levels, high debtors, and advance payments to suppliers.37.00 crores
- Repayment and/or prepayment of borrowingsThe company intends to repay in part or full certain borrowings availed from lenders to reduce outstanding indebtedness and debt servicing costs.6.00 crores
- General corporate purposesThe company will utilize funds for general corporate purposes including meeting operating expenses, initial development costs, strengthening business development and marketing capabilities, and meeting exigencies.
Financial Snapshot
Annual values as reported in the offer document.
| Year end | Revenue | Rev. growth | Profit | Profit growth | Assets | Equity | Operating cash flow |
|---|---|---|---|---|---|---|---|
| 31/03/2026 | 214.43 | — | 18.45 | — | 81.57 | 43.79 | -6.62 |
| 31/03/2025 | 78.23 | +2.9% | 2.25 | -15.4% | 29.50 | 15.90 | 5.48 |
| 31/03/2024 | 76.02 | — | 2.66 | — | 26.41 | 13.66 | 0.81 |
Units: crores
Issue Details
- Face Value
- ₹10
- P/E
- 19.20
- ROCE
- 16.96%
- Shares / Lot
- 600
- Minimum Bid
- 1,200 shares
- Refund
- 19 Aug 2026
- Credit to Demat
- 19 Aug 2026
- ISIN
- INE1KPX01025
- CIN
- U63000DL2015PLC281994
- Registrar
- Kfin Technologies Ltd.
- Lead Managers
- Hem Securities Ltd.
- Registered Office
- B-3, Second Floor, Nimri Commercial Complex, Ashok Vihar, Phase-4, New Delhi – 110 052, Delhi, India
Management
Tarun SharmaMD
Karan SharmaCFO
Ashok Kumar SharmaDirector
Dimple SharmaDirector
Vanita YadavDirector
Tejpal SinghDirector
Amit GuptaCOO
Arpita AbhilashaDirector
* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.