This SME stock zooms nearly 100% in debut trade; hits upper circuit

Shares of Credent Connect N Care Ltd made a stellar debut on the NSE SME platform on Thursday (August 20), listing at Rs 359.10, a 90 per cent premium over its initial public offering (IPO) price of Rs 189.

The stock extended gains after listing and hit the upper circuit of Rs 377.05, marking a 99.50 per cent rise from its issue price and nearly doubling investors' money on the maiden trading day.

Credent Connect financials

Credent Connect reported consolidated revenue from operations of Rs 214.16 crore for FY26. Profit (attributable to equity shareholders of the parent) stood at Rs 18.45 crore during the financial year.

The company is a healthcare services provider that offers integrated logistics, workforce solutions and technology-enabled support services to healthcare institutions across India.

Ashish Kacholia, Abakkus among investors

Credent Connect counts prominent investors such as Abakkus Venture Opportunities Fund, founded by Sunil Singhania, and ace investor Ashish Kacholia among its shareholders.

According to the company's Red Herring Prospectus (RHP), Abakkus Venture Opportunities Fund held 1,60,800 shares, representing a 1.21 per cent stake in the company's pre-issue paid-up share capital.

Kacholia held 2,67,600 shares or a 2.02 per cent stake, as of the date of filing of the RHP.

The company is promoted by Ashok Kumar Sharma, Karan Sharma, Tarun Sharma, Dimple Sharma and Tanveen. Collectively, the promoters held 1,16,01,000 shares, representing 87.52 per cent of Credent Connect N Care's pre-issue paid-up equity share capital, according to the RHP.