Mumbai: The initial public offering (IPO) of Dar Credit and Capital opened for subscription on May 21, 2025. The IPO received a strong response and was fully subscribed within just one hour of opening. By 11:14 AM on the first day, it was already subscribed more than 100 per cent, as per data from the NSE SME platform.
Dar Credit is a non-banking finance company (NBFC). It mainly gives loans to low-income people like cleaners, sweepers, peons, and small shopkeepers. It also supports women entrepreneurs and small businesses. The company started in 1994 and is based in Kolkata, with offices in Jaipur, West Bengal, Bihar, Jharkhand, Madhya Pradesh, and Gujarat.
The IPO will stay open for three days, closing on Friday, May 23, 2025. The share allotment will likely be decided on Monday, May 26, and the listing on the NSE SME platform is expected on Wednesday, May 28.
Dar Credit aims to raise Rs 25.66 crore through this issue. It is offering 4.27 million new equity shares. There is no offer for sale (OFS). The price band is set between Rs 57 and Rs 60 per share.
The minimum investment for retail investors is Rs 1,14,000, which buys one lot of 2,000 shares. High net-worth individuals can bid for two lots by investing Rs 2,40,000.
The IPO has been divided as follows:
- 50 per cent for Qualified Institutional Buyers (QIBs)
- 35 per cent for Retail Investors
- 15 per cent for Non-Institutional Investors (NIIs)
The grey market premium (GMP) is currently at Rs 15, which is a 25 per cent premium over the upper band price of Rs 60. This suggests strong interest from investors even outside the official market.
The registrar for the issue is Kfin Technologies, and GYR Capital Advisors is the sole lead manager. The money raised will be used to strengthen the company’s capital and for general corporate needs.
Dar Credit and Capital’s IPO was fully subscribed within an hour on Day 1. With a strong grey market premium, the issue has seen high demand. Listing is expected on May 28, 2025.
