Dar Credit and Capital’s ₹25.55 crore IPO opens on May 21, 2025, with a price band of ₹57–₹60. The SME-focused NBFC aims to strengthen its capital base and expand lending services across eastern and central India.
Kolkata-based non-banking financial company (NBFC) Dar Credit and Capital is set to open its Initial Public Offering (IPO) for subscription on Wednesday, May 21, 2025. The company aims to raise ₹25.55 crore through a fresh issue of 4.27 million equity shares. Notably, the IPO does not include any Offer for Sale (OFS) component, meaning all funds raised will go directly to the company.
IPO Details and Structure
The price band for the issue has been fixed at ₹57 to ₹60 per equity share. The minimum lot size for retail investors is 2,000 shares, requiring a minimum investment of ₹1,14,000. High-net-worth individuals (HNIs) will need to invest at least ₹2,40,000 for two lots.
The issue has been structured to reserve:
- 50% for qualified institutional buyers (QIBs),
- 35% for retail individual investors (RIIs), and
- 15% for non-institutional investors (NIIs).
Key Dates
- IPO Opens: Wednesday, May 21, 2025
- IPO Closes: Friday, May 23, 2025
- Basis of Allotment: Likely by Monday, May 26, 2025
- Tentative Listing Date: Wednesday, May 28, 2025, on the NSE SME platform
Kfin Technologies will serve as the registrar to the issue, while GYR Capital Advisors is acting as the sole book-running lead manager.
Grey Market Premium (GMP)
As of the latest update, Dar Credit and Capital shares were trading at ₹72 in the grey market, implying a GMP of ₹12 over the upper price band. This reflects a 20% premium, indicating healthy investor interest ahead of the IPO.
IPO Objective
According to the Red Herring Prospectus (RHP), the company intends to utilise the net proceeds to:
- Augment its capital base,
- Support future lending activities, and
- Meet general corporate purposes.
About the Company
Incorporated in August 1994, Dar Credit and Capital provides financial services including:
- Personal loans
- Unsecured and secured MSME loans
The company has carved a niche in offering credit to low-income individuals, especially those in class-four (Group D) employment like sweepers, cleaners, and peons in municipal roles. It also focuses on empowering women entrepreneurs and supporting small-scale vendors and shopkeepers.
Its operations are spread across West Bengal, Rajasthan, Bihar, and Jharkhand, with regional outreach through Camp Offices in Madhya Pradesh and Gujarat.
Financial Overview
Dar Credit and Capital reported strong financials:
- Revenue (Apr–Dec 2024): ₹30.08 crore
- Profit After Tax (PAT): ₹4.91 crore
For FY24, the company reported:
- Revenue: ₹32.04 crore (up 29.2% YoY)
- PAT: ₹3.96 crore (up 35.4% YoY from ₹2.93 crore in FY23)
Industry Outlook
Dar Credit’s IPO comes amid rising interest in small and mid-cap companies targeting underserved markets. Its focus on inclusive lending and financial empowerment aligns with India’s broader push for financial inclusion, particularly in rural and semi-urban regions.
