Capillary Technologies India IPO
Bookbuilding IPO | ₹877.50 Cr | Listing at BSE, NSE
IPO Open
Fri, Nov 14, 2025
IPO Close
Tue, Nov 18, 2025
Price Band
₹549.00 to ₹577.00
Market Cap (Pre-IPO)
₹4,576.09 Cr
IPO Details
| IPO Date | Nov 14, 2025 to Nov 18, 2025 |
| Listing Date | Tentative: Nov 21, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹549.00 to ₹577.00 |
| Lot Size | 25 Shares (Minimum: ₹14,425.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹877.50 Crores |
| Total Shares Offered | 15,211,431 shares |
| Fresh Issue | 5,982,635 shares |
| Offer For Sale | 9,228,796 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 57.30x |
| NII | 69.85x |
| RII | 15.85x |
| Total | 52.98x |
Capillary Technologies India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 1,13,80,003 (74.81%) |
| Retail Shares Offered | 15,17,333 (9.97%) |
| NII Shares Offered | 22,76,000 (14.96%) |
Capillary Technologies India IPO Lot Size
Investors can bid for a minimum of 25 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,425 |
| Retail (Max) | 13 | 325 | ₹187,525 |
| S-HNI (Min) | 14 | 350 | ₹201,950 |
| S-HNI (Max) | 69 | 1,725 | ₹995,325 |
| B-HNI (Min) | 70 | 1,750 | ₹1,009,750 |
Capillary Technologies India Financial Information (Restated Consolidated)
Capillary Technologies India Ltd.'s revenue increased by 14% and profit after tax (PAT) rose by 121% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 892.33 | 838.65 | 871.07 | 466.41 |
| Total Income | 362.56 | 611.87 | 535.44 | 266.25 |
| Profit After Tax | 1.03 | 14.15 | -68.35 | -88.56 |
| EBITDA | 39.82 | 78.57 | -1.49 | -58.34 |
| NET Worth | 509.38 | 481.42 | 452.13 | 99.75 |
| Reserves and Surplus | 149.34 | 170.26 | 30.89 | 31.99 |
| Total Borrowing | 88.94 | 100.09 | 77.17 | 147.47 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 0.00% |
| ROCE (Return on Capital Employed) | 2.76% |
| Debt/Equity | 0.18 |
| RoNW (Return on Net Worth) | 2.85% |
| PAT Margin (Profit After Tax Margin) | 2.37% |
| EBITDA Margin | 13.13% |
| Price to Book Value | 8.87 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 1.93 | 0.26 |
| P/E (x) | 298.93 | 2,214.95 |
| Promoter Holding | 67.95% | 52.05% |
Company Promoters
- Capillary Technologies International Pte Ltd and Aneesh Reddy Boddu are the company promoters.
Company Overview
Capillary Technologies India Ltd is a leading Indian software-as-a-service (SaaS) company that specializes in customer loyalty and engagement solutions. Founded in 2008 and headquartered in Bengaluru, Capillary offers a comprehensive suite of products that help brands understand and engage their customers more effectively through data-driven insights.
Key Offerings:
- Loyalty Management Solutions: Capillary provides scalable, customizable loyalty programs for enterprises across industries like retail, FMCG, and hospitality.
- Customer Engagement & Marketing Automation: The platform enables personalized marketing through SMS, email, push notifications, and more.
- AI & Analytics: Their tools leverage AI and machine learning to deliver real-time customer insights and predictive analytics.
- Omnichannel CRM: Helps brands maintain consistent engagement with customers across online and offline channels.
- Clients & Global Reach: Capillary serves over 250 brands across more than 30 countries, including major names like Tata, Domino’s, Jockey, PUMA, and Shell.
The company primarily operates on a subscription-based SaaS model, generating revenue from software licenses, professional services, and support.
Company Strengths
- Market Leader in Loyalty Solutions
- Comprehensive Solutions (Loyalty+, Insights+, Engage+, Rewards+) for Diverse Segments
- Multiple loyalty program and coalitions for retailers and conglomerates
- Customer and fleet loyalty for energy retail
- Scalable Cloud-Based Infrastructure with Seamless Integration
- Diverse Long-Term Customer Relationships with High Net Revenue Retention
Use of Proceeds
| 1) | Funding our cloud infrastructure cost | 143.00 |
| 2) | Investment in research, designing and development of our products and platform | 71.58 |
| 3) | Investment in purchase of computer systems for our business | 10.34 |
| 4) | Funding inorganic growth through unidentified acquisitions and general corporate purposes | 97.99 |
Objectives
The Company Capillary Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
Capillary Technologies India IPO Peer Comparison
Capillary Technologies India peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Our Company (Fiscal 2025) | 1.93 | 1.91 | 65.03 | 0.00 | 2.85 | 0.00 | Consolidated |
| Salesforce, Inc. | 540.79 | 534.07 | 5,441.60 | 40.07 | 10.26 | 0.00 | Consolidated |
| Adobe Inc. | 1,038.29 | 1,032.44 | 2,650.28 | 28.60 | 36.74 | 0.00 | Consolidated |
| HubSpot, Inc. | 7.53 | 7.53 | 3,153.16 | 0.00 | 0.29 | 0.00 | Consolidated |
| Braze, Inc. | -85.65 | -85.65 | 402.61 | 0.00 | -22.58 | 0.00 | Consolidated |
Quick Info
| Sector | IT - Software |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹4,576.09 Cr |
Important Dates
| IPO Open | Nov 14, 2025 |
| IPO Close | Nov 18, 2025 |
| Allotment Date | Nov 19, 2025 |
| Credit to Demat | Nov 20, 2025 |
| Listing Date | Tentative: Nov 21, 2025 |
Lead Manager(s)
JM Financial Ltd.
Registrar
Description
- Capillary Technologies IPO is a book build issue of ₹877.50 crores. The issue is a combination of fresh issue of 0.60 crore shares aggregating to ₹345.12 crores and offer for sale of 0.92 crore shares aggregating to ₹532.38 crores.
- Capillary Technologies IPO bidding started from Nov 14, 2025 and ended on Nov 18, 2025. The allotment for Capillary Technologies IPO was finalized on Nov 19, 2025. The shares got listed on BSE, NSE on Nov 21, 2025.
- Capillary Technologies IPO price band is set at ₹577.00 per share . The lot size for an application is 25. The minimum amount of investment required by an retail is ₹14,425 (25 shares) (based on upper price). The lot size investment for sNII is 14 lots (350 shares), amounting to ₹2,01,950, and for bNII, it is 70 lots (1,750 shares), amounting to ₹10,09,750.
- The issue includes a reservation of up to 38,095 shares for employees offered at a discount of ₹52.00 to the issue price.