Capillary Technologies IPO To Open On Nov 14, Cuts Issue Size

SaaS major Capillary Technologies has filed the red herring prospectus (RHP) for its IPO, which will comprise a fresh issue of up to INR 345 Cr and an offer for sale (OFS) of up to 92.29 Lakh shares.

The IPO will open for bidding on November 14 (Friday) and close on November 18 (Tuesday). Anchor bidding will take place on November 13 (Thursday). The company’s shares are expected to list on the exchanges on November 21 (Friday).

Notably, the company has cut the size of the public issue compared to its proposal in the DRHP. The fresh issue was to be of up to INR 430 Cr, while OFS component was to comprise up to 1.83 Cr shares, according to the DRHP.

However, Ronal Holdings, Filter Capital India, Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy B, Sudhakar Reddy Katanguri, Sripathi Damodar Reddy and Manjunath Nanjaiah have cancelled their plans to offload shares via OFS.

According to the RHP, promoter Capillary Technologies International Pte Ltd (CTIPL) plans to sell 85.41 Lakh shares and Trudy Holdings will offload up to 6.88 Lakh shares via the OFS.

The company plans to use the proceeds from the fresh issue for the following purposes: 

• INR 143 Cr has been earmarked for cloud infrastructure
• INR 71.6 Cr will be invested in research, design and development of its products and platform
• INR 10.3 Cr will be used to purchase computer systems
• The company plans to utilise the remaining amount for unidentified acquisitions and general corporate purposes.

Founded in 2008 by Aneesh Reddy, Capillary Technologies specialises in providing loyalty management and customer engagement platforms to its customers. It helps businesses across industries improve customer engagement, drive sales and build brand loyalty through its AI-powered platform.

On the financial front, Capillary Technologies reported a net profit of INR 1 Cr in the first half of the fiscal year 2025-26 as against a loss of INR 6.8 Cr in H1 FY25. Operating revenue in H1 FY26 rose 25% to INR 359.2 Cr, compared to INR 287.2 Cr in the previous year.

In FY25, it posted a net profit of INR 13.3 Cr as against a loss of INR 59.4 Cr in the previous fiscal year. Operating revenue stood at INR 598.3 Cr, marking a 14% jump from INR 525.1 Cr in FY24.