Credent Connect IPO Day 3: GMP ₹45
Welcome back, investors! We’re at the halfway mark for the Credent Connect SME IPO, and it’s Day 3 of its subscription period, which runs from August 13th to August 17th, 2026. Today’s update brings us to a critical juncture, and we’ll be dissecting the latest numbers to understand the sentiment surrounding this offering.
| Date | GMP | Est. Listing |
|---|---|---|
| 20 Aug | +₹47 | ₹236 |
| 19 Aug | +₹47 | ₹236 |
| 18 Aug | +₹42 | ₹231 |
| 17 Aug | +₹62 | ₹251 |
| 14 Aug | +₹45 | ₹234 |
Subscription Status
As we enter Day 3, the subscription figures for Credent Connect are showing 0x across all categories: Retail, NII (Non-Institutional Investors), and QIB (Qualified Institutional Buyers). The total subscription also stands at 0x. This is an interesting, albeit unusual, situation for an SME IPO at this stage. Typically, by Day 3, we’d expect to see some level of subscription, especially from retail investors who often jump in early. The complete absence of bids across the board, including from NIIs and QIBs, could indicate a few things. It might suggest that investors are waiting for more clarity, perhaps holding back to see if there’s a last-minute surge in interest or a change in market sentiment. Alternatively, it could mean that the book building process is indeed just starting to gain momentum, and the real action will unfold in the remaining days. We’ll need to watch closely how the remaining subscription days play out. The lot size for this IPO is 600 shares, with an issue price of ₹189.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 0.00x | |
| NII / HNI | 0.00x | |
| QIB | 130.40x | |
| Total | 130.40x |
GMP Update
Now, let’s talk about the Grey Market Premium (GMP). The current GMP for Credent Connect is holding steady at ₹45. This is the same as yesterday’s GMP, which indicates a stable sentiment in the unofficial market. Based on the issue price of ₹189 and the current GMP of ₹45, the expected listing price is around ₹234 (₹189 + ₹45). This suggests a potential listing gain of approximately 23.8%. While a positive GMP is always encouraging, the fact that it hasn’t moved significantly, coupled with the zero subscription numbers, paints a mixed picture. It’s good that the GMP hasn’t dipped, which is a positive sign. However, a lack of upward momentum in GMP might reflect the subdued subscription interest we’re seeing.
Should You Apply?
The decision to apply for the Credent Connect IPO requires a careful look at both the subscription data and the GMP. On one hand, the positive GMP of ₹45, hinting at a ₹234 listing, is attractive. It suggests that market participants, at least those in the grey market, believe the stock has potential for a good debut. That said, the complete lack of subscription on Day 3 is a significant point of consideration. It’s not typical, and investors might be questioning the underlying demand. This could concern some, especially if the trend continues. However, SME IPOs often see a significant rush in the final days, particularly on Day 5. The SEBI advisor’s guidelines always remind us to do our own due diligence. You’ll want to assess Credent Connect’s business fundamentals, its financial health, and its future prospects independently. The current data suggests a cautious approach might be warranted, but don’t dismiss it entirely just yet. The final two days will be crucial in determining the IPO’s success. Keep an eye on the subscription numbers then, and how the GMP behaves.