Dar Credit and Capital shares off to decent start, list at 9% premium over IPO price on NSE SME

Dar Credit and Capital IPO listing: Shares of the non-banking finance company Dar Credit and Capital were off to a steady start as the stock debuted at ₹65.15 apiece on the NSE SME platform, a premium of 8.58% over the issue price of ₹60.

However, immediately after listing, the stock witnessed a heavy selloff and was locked in the 5% lower circuit limit. As of 10.04 am, Dar Credit and Capital share price was at ₹61.90 apiece, down 4.99% but still up 3.17% over the listing price.

About Dar Credit and Capital IPO

The initial public offering (IPO) of Dar Credit and Capital had witnessed a massive demand, with the issue being subscribed 106.09 times at the end of the three-day bidding process.

The retail portion was subscribed 104.88 times, the qualified institutional buyer quota was booked 31.29 times, and the non-institutional investor category was booked 208.45 times.

The ₹26 crore SME IPO was open for subscription from May 21 to May 23. Dar Credit and Capital IPO was a fixed price issue of ₹60 per share, with 42.76 lakh shares on offer.

The company plans to use the proceeds from the IPO to augment the capital base of the company, for general corporate purposes and to cover expenses.

About Dar Credit and Capital

Incorporated in 1994, Dar Credit and Capital Limited is an NBFC that provides three main types of financial products: (i) Personal Loans, (ii) Unsecured MSME Loans, and (iii) Secured MSME Loans.

DCCL primarily serves low-income individuals, focusing on those employed in class-four roles such as cleaners and peons within municipalities. The company also extends credit to small-scale shopkeepers and vendors, with a strong emphasis on empowering women entrepreneurs.

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