Dar Credit and Capital shares to list today. Check GMP ahead of debut

Dar Credit and Capital, a non-banking financial company (NBFC), is set to debut on the NSE SME platform on Wednesday. The company’s Rs 26.46 crore IPO received a resounding response from investors, with the issue being subscribed over 106 times. The offering was entirely a fresh issue of 44.1 lakh equity shares at a fixed price of Rs 60 per share.

The company's shares were last trading at a grey market premium (GMP) of Rs 16, suggesting an expected listing price of Rs 76 per share. This indicates a potential gain of approximately 26.7% over the issue price.

The substantial oversubscription and robust grey market premium indicate strong investor confidence in Dar Credit and Capital listing prospects. Investors who secured allotments can anticipate potential listing gains. However, as with all investments, it's advisable to consider the company's fundamentals and market conditions before making any decisions.

While brokerages have not covered the public offer, the strong subscription numbers and positive GMP suggest favorable market sentiment towards the company.

The funds raised through the IPO will be used to augment the company’s capital base and support future lending growth.

Incorporated in 1994, Dar Credit and Capital focuses on providing personal loans, unsecured MSME loans, and secured MSME loans. The company primarily caters to low-income individuals, self-employed workers, and small entrepreneurs, with a strong focus on underserved segments such as municipal workers and women borrowers.

It operates with a vision of financial inclusion and empowerment, particularly for micro-businesses.

In the fiscal year 2023-24, the company reported a revenue of Rs 33.01 crore and a profit after tax of Rs 3.97 crore. The return on equity stood at 6.17%, with a debt-to-equity ratio of 2.51.