Credent Connect N Care Ltd IPO
Status: Closed
Overview
IPO date
13 Aug 2026 to 17 Aug 2026
Face value
₹ 0 per share
Price
₹ 179 to ₹189 per share
Issue Size
4,968,000 shares
(aggregating up to ₹ 93.9 Cr)
(aggregating up to ₹ 93.9 Cr)
Allotment Date
18 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Healthcare
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T&C*
Strengths vs Risks of Credent Connect N Care Ltd
Know the pros & cons
Strengths
- Comprehensive Healthcare Ecosystem and Logistics Platform.
- Well established relationships with clients .
- Leveraging the experience of our Promoters and Directors .
- Widespread reach in domestic markets.
Risks
- The company derives a significant portion of its revenue from operations from the company's top 10 customers with which the company does not has any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on the company's business, cash flows, results of operations and financial condition.
- The company's business is dependent on diagnostic and healthcare companies, and any reduction in their testing volumes, outsourcing requirements, or adverse sector developments could materially and adversely affect its business, financial condition, and results of operations.
- The company is exposed to risks relating to loss, damage, contamination or delay in transportation of diagnostic samples, which could result in client claims, financial liabilities and reputational harm.
- The company's business depends on service-level contracts with clients that are subject to renewal, renegotiation and termination, and its inability to maintain or renew such contracts on favourable terms could materially and adversely affect the company's business.
- The company's business is working capital intensive and trade receivables constitute a significant portion of its current assets. Any delay or failures in realisation of trade receivables could adversely affect its cash flows, liquidity and financial condition.
- The company's business is highly dependent on the availability and performance of a large, skilled and geographically dispersed workforce, and its inability to effectively manage, train and retain such personnel could adversely affect its operations.
- The company's operations depends on the continuous availability of specialised packaging materials and consumables, and any disruption in their supply or increase in their cost could adversely affect its service delivery and profitability.
- Misconduct, fraud, negligence or theft by the company field personnel could adversely affect its business, reputation and financial condition.
- The company's subsidiary companies has incurred losses and had a negative net worth in the past, and any future losses may adversely affect its financial condition and the company's consolidated results.
- The company relies on financing from banks or financial institutions to carry on its business operations, and inability to obtain additional financing on terms favorable to it or at all could have an adverse impact on its financial condition. If the company is unable to raise additional capital, its business and future financial performance could be adversely affected.
- The company's business is subject to seasonal fluctuations, and a significant portion of its revenue is generated in the second half of the financial year, which may affect the company's operating results.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- Its Contingent Liability and Commitments could affect the company's financial position.
- There are no listed companies in India that are directly comparable to the company's line of business, which may make it difficult for investors to evaluate its performance and prospectus.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company does not own admin office, warehouse and branch offices from where its carry out the company's business activities. Any dispute in relation to use of the premises could have a material adverse effect on the company's business and results of operations.
- The company has experienced negative cash flows in the recent past, and its may have negative cash flows in the future.
- The Company has not placed orders of machinery for its proposed object as specified in the Objects of the Issue. Any delay in placing orders, procurement of machinery may delay the company's implementation schedule and may also lead to increase in price of this machinery and equipment, further affecting its revenue and profitability.
- The company requires certain approvals, licenses, registrations and permits to operates its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operates its business may adversely affect the company's operations and financial conditions.
- The company's PAT margin has declined in the past and may fluctuate in the future, which could adversely affect its profitability and results of operations.
- The company's insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on the company's business.
- The company's Promoters has provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations and cash flows may be adversely affected by the invocation of all or any personal guarantees provided by the company's Promoters.
- The names of the company's Promoter and Non-Executive Director Ashok Kumar Sharma was appearing in the list of disqualified directors in the past.
- The company's Statutory auditor has included emphasis of matter in the company's Audited Financial Report.
- The company's business is subject to various labour and employment laws across multiple states, and any non-compliance with such laws may result in penalties, legal proceedings or operational restrictions.
- The company is exposed to the risk of delays or non-payment by its clients and other counterparties, which may also result in cash flow mismatches.
- If the company is unable to manage its growth effectively or if the company's estimates or assumptions used in developing its strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the company's business and prospects may be materially and adversely affected.
- The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of the company's promoters, Key Management Personnel and Senior Managerial Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of the company's business through their continuing services and strategic guidance and support.
- Unsecured loans taken by the company may be recalled at any time.
- The company's lenders has charge over its movable assets in respect of finance availed by it.
- Public health emergencies and widespread outbreaks of infectious diseases could disrupt the company's workforce and logistics operations and adversely affect its business.
- The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company's profitability adversely.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company relies on financing from banks or financial institutions to carry on its business operations, and inability to obtain additional financing on terms favourable to it or at all could have an adverse impact on its financial condition. If the company is unable to raise additional capital, its business and future financial performance could be adversely affected.
- Any penalty, demand or adverse order passed by statutory authorities in future may adversely affect the company's financial condition and results of operations.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- None of the company's Directors have prior experience serving on the board of a listed company, which may affect its ability to efficiently discharge certain responsibilities as a listed entity.
- This Red Herring Prospectus contains information from an industry report which the company has paid for and commissioned from D&B, appointed by the Company. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- Liquidity Risk and Dependence on Market Maker Continuity on the NSE Emerge Platform.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems. If the company is unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The company is subject to certain restrictive covenants in debt facilities provided to it by the company's lenders.
- The average cost of acquisition of Equity Shares by some of the company's Promoters, is lower than the face value of Equity Share.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Any future issuance of Equity Shares, or convertible securities or other equity linked securities by it and any sale of Equity Shares by the company's significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- The company's Promoter and Promoter Group will jointly continue to retain majority shareholding in the Company after this Issue which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- There is no guarantee that the Equity Shares issued pursuant to the issue will be listed on the SME Platform of NSE in a timely manner or at all.
- The Issue price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Significant differences exist between Ind AS and other accounting principles, such as Indian GAAP, IFRS and U.S. GAAP, which may be material to investors' assessments of the company's financial condition, result of operations and cash flows.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
How to check the allotment status of Credent Connect N Care Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
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The IPO opens on 13 Aug 2026 & closes on 17 Aug 2026.
Credent Connect N Care Limited was originally incorporated as a Private Company under the name of 'Credent Cold Chain Logistics Private Limited' on June 25, 2015 with the Registrar of Companies, Delhi. Thereafter, the name of the Company was changed to 'Credent Connect N Care Private Limited' vide certified dated May 10, 2024. Further, pursuant to a Special Resolution passed by the shareholder, the Company converted from Private Limited into Public limited and name of the Company has changed from 'Credent Connect N Care Private Limited' to 'Credent Connect N Care Limited' dated October 28, 2025.
The Company is a healthcare services provider engaged in delivering integrated logistics, workforce solutions, and technology-enabled support to healthcare institutions across India. It provide complete 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 commenced its operations in 2015 with small team of field executives and have since expanded into multiple healthcare service verticals, employing 2039 riders. It provide services covering financial management, strategic management, human resources, marketing, operations and supply chain management.
In addition to this, the Company established a Corporate & Wellness vertical under the brand 'C3 Wellness'. Through this vertical, the Company manages large-scale health camps and corporate wellness programs for corporates and institutions. The scope of services include corporate vaccination programs and basic radiology and diagnostic services, such as ECG, PFT, digital X-ray, eye check-ups, dental check-ups, ENT assessments, doctor-on-arrival (DOA) services, and doctor consultations. The Company provide deployment of requisite healthcare manpower, operational coordination, logistics management, and on-ground execution of diagnostic and sample collection activities at designated locations.
The Company acquired shares of Credent Healthcare Private Limited from its shareholders pursuant to a share purchase agreement, making it a wholly owned subsidiary on October 08, 2025.
Company has filed a Draft Prospectus with SEBI & has issued 49,68,000 Equity shares of Rs 10 through Initial Offer.
Credent Connect N Care Ltd IPO will close on 17 Aug 2026.
- Comprehensive Healthcare Ecosystem and Logistics Platform.
- Well established relationships with clients .
- Leveraging the experience of our Promoters and Directors .
- Widespread reach in domestic markets.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Ashok Kumar Sharma | 3658950 | 27.6 | 3658950 | 20.08 |
| 2 | Karan Sharma | 2247825 | 16.96 | 2247825 | 12.34 |
| 3 | Tarun Sharma | 2023550 | 15.27 | 2023550 | 11.1 |
| 4 | Dimple Sharma | 132550 | 1 | 132550 | 0.73 |
| 5 | Tanveen | 3538125 | 26.69 | 3538125 | 19.42 |
| 6 | Ashok Kumar Sharma HUF | 5100 | 0.04 | 5100 | 0.03 |
| 7 | Tarun Sharma HUF | 5100 | 0.04 | 5100 | 0.03 |
| 8 | Karan Sharma HUF | 5100 | 0.04 | 5100 | 0.03 |
- The company derives a significant portion of its revenue from operations from the company's top 10 customers with which the company does not has any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on the company's business, cash flows, results of operations and financial condition.
- The company's business is dependent on diagnostic and healthcare companies, and any reduction in their testing volumes, outsourcing requirements, or adverse sector developments could materially and adversely affect its business, financial condition, and results of operations.
- The company is exposed to risks relating to loss, damage, contamination or delay in transportation of diagnostic samples, which could result in client claims, financial liabilities and reputational harm.
- The company's business depends on service-level contracts with clients that are subject to renewal, renegotiation and termination, and its inability to maintain or renew such contracts on favourable terms could materially and adversely affect the company's business.
- The company's business is working capital intensive and trade receivables constitute a significant portion of its current assets. Any delay or failures in realisation of trade receivables could adversely affect its cash flows, liquidity and financial condition.
- The company's business is highly dependent on the availability and performance of a large, skilled and geographically dispersed workforce, and its inability to effectively manage, train and retain such personnel could adversely affect its operations.
- The company's operations depends on the continuous availability of specialised packaging materials and consumables, and any disruption in their supply or increase in their cost could adversely affect its service delivery and profitability.
- Misconduct, fraud, negligence or theft by the company field personnel could adversely affect its business, reputation and financial condition.
- The company's subsidiary companies has incurred losses and had a negative net worth in the past, and any future losses may adversely affect its financial condition and the company's consolidated results.
- The company relies on financing from banks or financial institutions to carry on its business operations, and inability to obtain additional financing on terms favorable to it or at all could have an adverse impact on its financial condition. If the company is unable to raise additional capital, its business and future financial performance could be adversely affected.
- The company's business is subject to seasonal fluctuations, and a significant portion of its revenue is generated in the second half of the financial year, which may affect the company's operating results.
- There are outstanding legal proceedings involving the Company, its Directors and the company's Promoters. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- Its Contingent Liability and Commitments could affect the company's financial position.
- There are no listed companies in India that are directly comparable to the company's line of business, which may make it difficult for investors to evaluate its performance and prospectus.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company does not own admin office, warehouse and branch offices from where its carry out the company's business activities. Any dispute in relation to use of the premises could have a material adverse effect on the company's business and results of operations.
- The company has experienced negative cash flows in the recent past, and its may have negative cash flows in the future.
- The Company has not placed orders of machinery for its proposed object as specified in the Objects of the Issue. Any delay in placing orders, procurement of machinery may delay the company's implementation schedule and may also lead to increase in price of this machinery and equipment, further affecting its revenue and profitability.
- The company requires certain approvals, licenses, registrations and permits to operates its business, and failures to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operates its business may adversely affect the company's operations and financial conditions.
- The company's PAT margin has declined in the past and may fluctuate in the future, which could adversely affect its profitability and results of operations.
- The company's insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on the company's business.
- The company's Promoters has provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations and cash flows may be adversely affected by the invocation of all or any personal guarantees provided by the company's Promoters.
- The names of the company's Promoter and Non-Executive Director Ashok Kumar Sharma was appearing in the list of disqualified directors in the past.
- The company's Statutory auditor has included emphasis of matter in the company's Audited Financial Report.
- The company's business is subject to various labour and employment laws across multiple states, and any non-compliance with such laws may result in penalties, legal proceedings or operational restrictions.
- The company is exposed to the risk of delays or non-payment by its clients and other counterparties, which may also result in cash flow mismatches.
- If the company is unable to manage its growth effectively or if the company's estimates or assumptions used in developing its strategic plan are inaccurate or the company is unable to execute its strategic plan effectively, the company's business and prospects may be materially and adversely affected.
- The company's actual results could differ from the estimates and projections used to prepare its financial statements.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of the company's promoters, Key Management Personnel and Senior Managerial Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The company has in the past entered into related party transactions and may continue to do so in the future.
- The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of the company's business through their continuing services and strategic guidance and support.
- Unsecured loans taken by the company may be recalled at any time.
- The company's lenders has charge over its movable assets in respect of finance availed by it.
- Public health emergencies and widespread outbreaks of infectious diseases could disrupt the company's workforce and logistics operations and adversely affect its business.
- The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence the company's profitability adversely.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company relies on financing from banks or financial institutions to carry on its business operations, and inability to obtain additional financing on terms favourable to it or at all could have an adverse impact on its financial condition. If the company is unable to raise additional capital, its business and future financial performance could be adversely affected.
- Any penalty, demand or adverse order passed by statutory authorities in future may adversely affect the company's financial condition and results of operations.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- None of the company's Directors have prior experience serving on the board of a listed company, which may affect its ability to efficiently discharge certain responsibilities as a listed entity.
- This Red Herring Prospectus contains information from an industry report which the company has paid for and commissioned from D&B, appointed by the Company. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- Liquidity Risk and Dependence on Market Maker Continuity on the NSE Emerge Platform.
- The company is subject to the risk of failures of, or a material weakness in, its internal control systems. If the company is unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The company is subject to certain restrictive covenants in debt facilities provided to it by the company's lenders.
- The average cost of acquisition of Equity Shares by some of the company's Promoters, is lower than the face value of Equity Share.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Any future issuance of Equity Shares, or convertible securities or other equity linked securities by it and any sale of Equity Shares by the company's significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- The company's Promoter and Promoter Group will jointly continue to retain majority shareholding in the Company after this Issue which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- There is no guarantee that the Equity Shares issued pursuant to the issue will be listed on the SME Platform of NSE in a timely manner or at all.
- The Issue price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Significant differences exist between Ind AS and other accounting principles, such as Indian GAAP, IFRS and U.S. GAAP, which may be material to investors' assessments of the company's financial condition, result of operations and cash flows.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
The Issue type of Credent Connect N Care Ltd is Book Building - SME.
The minimum application for shares of Credent Connect N Care Ltd is 1200.
The total shares issue of Credent Connect N Care Ltd is 4968000.
Initial public issue of upto 49,68,000 equity shares of face value of Rs. 10 each (the "Equity Shares") of Credent Connect N Care Limited (formerly known as Credent Cold Chain Logistics Private Limited) ("the Company" or "Credent" or "the Issuer") at an issue price of Rs. 189 per equity share (including share premium of Rs. 179 per equity share) for cash, aggregating up to Rs. 93.90 Crores ("Public Issue") out of which 2,52,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 189 per equity share for cash, aggregating Rs. 4.76 Crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. Issue of 47,16,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 189 per equity share for cash, aggregating upto Rs. 89.13 Crores is herein after referred to as the "Net Issue". The public issue and net issue will constitute 26.44% and 25.10% respectively of the post-issue paid-up equity share capital of the company.
Price Band: Rs. 189 per equity share of face value Rs. 10 each.
The floor price (Rs.189) is 18.90 times of the face value of the equity shares.
Bids can be made for a minimum of 1200 equity shares and in multiples of 600 equity shares thereafter.