Business Economy


Capillary Technologies IPO opens at ₹549–₹577

Bengaluru, Nov 14 (UNI) Capillary Technologies India Limited opened its Initial Public Offer (IPO) on Friday, fixing a price band of ₹549 to ₹577 per equity share of face value ₹2.
The issue will remain open for subscription till November 18, with investors allowed to bid for a minimum of 25 equity shares and in multiples of 25 thereafter.
The public issue comprises a fresh issue of equity shares aggregating to ₹3,450 million and an offer-for-sale of 92,28,796 equity shares.
According to the company, net proceeds from the fresh issue will be utilised as follows: up to ₹1,430 million for cloud infrastructure costs, up to ₹715.81 million for research, design and product development, up to ₹103.42 million for purchase of computer systems, and the remaining for inorganic growth through unidentified acquisitions and general corporate purposes.
The company clarified that expenditure towards general corporate purposes and unidentified acquisitions together will not exceed 35 per cent of gross proceeds, with each capped at 25 per cent. Further, utilisation towards capital expenditure will not exceed 50 per cent of fresh issue proceeds.
Capillary Technologies is a software product firm offering AI-driven, cloud-native Software-as-a-Service solutions targeted at enterprise customers seeking to build consumer and channel loyalty. Benchmarking by Zinnov as of September 2025 positions the firm among the global leaders in loyalty and engagement management.
The company provides end-to-end loyalty management through its product suite comprising Loyalty , Engage , Insights , Rewards and its customer data platform. As of September 30, 2025, it supports over 410 brands across 47 countries.
For the six months ended September 30, 2025, the company recorded consolidated revenue from operations of ₹3,592.18 million, compared with ₹2,871.77 million in the same period last year. Revenue stood at ₹5,982.59 million in FY25, ₹5,251 million in FY24 and ₹2,553.72 million in FY23.
JM Financial Limited, IIFL Capital Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar.
The offer is being made through the book-building route. Not more than 75 per cent of the net offer will be reserved for qualified institutional buyers, not more than 15 per cent for non-institutional bidders and not more than 10 per cent for retail individual bidders, subject to valid bids at or above the offer price. UNI BDN SSP
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