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Credent Connect N Care IPO opens to raise ₹94 crore
The healthcare logistics provider says its nationwide network supports sample collection and cold-chain logistics at a required 2–8°C range, and it reported FY2025-26 revenue of ₹214.16 crore.
Credent Connect N Care, backed by investors including Ashish Kacholia, opened its initial public offering for subscription on Thursday, 13 August, with plans to raise ₹94 crore, according to LiveMint Markets.
The company, which has more than 14 years in healthcare logistics, operates a technology-driven platform for booking and assigning collections, sample collection, preservation, transportation, delivery and tracking. It said it is associated with over 2,500 laboratories and has a field force of more than 6,500 professionals across India, and it offers temperature-controlled logistics and cold-chain solutions aimed at maintaining the 2–8°C temperature range.
Credent Connect N Care positions itself as a dedicated healthcare logistics and last-mile phlebotomy platform, citing no direct listed peer. It also said it is positioned to benefit from increased diagnostic testing adoption and home sample collection.
For FY2025-26, the company reported revenue of ₹214.16 crore and EBITDA of ₹28.46 crore, with profit after tax of ₹18.45 crore and net worth of ₹43.8 crore. Its red herring prospectus shows Abakkus Venture Opportunities Fund held a 1.21% stake and Ashish Kacholia owned a 2.02% stake, both acquired at ₹187 per share in July 2026, and the IPO has an indicated grey market premium, with GMP listed at +72.