Capillary Technologies IPO in focus: The initial public offering (IPO) of Capillary Technologies received a robust response from investors during its bidding period, with the issue being subscribed over 52 times by the end of Day 3. Strong demand came particularly from institutional investors.
The Capillary Technologies IPO, which ran from October 30 to November 3, received bids for 44.39 crore shares against the 84 lakh shares on offer, resulting in a subscription rate of 52.98 times.
Non-institutional investors showed strong interest, with their portion subscribed 70 times as they placed bids for 15.89 crore shares compared with the allotted 22.75 lakh shares. The qualified institutional buyers (QIB) segment reflected similar enthusiasm, with its portion booked 57.30 times.
The retail quota was subscribed 16 times, and the employee segment received subscriptions nearly 7 times.
Capillary Technologies Issue Details
The ₹877.50 crore issue comprises a fresh issue of 0.60 crore shares aggregating to ₹345 crore and an offer for sale (OFS) of 0.92 crore shares aggregating to ₹532.50 crore.
The price band has been fixed at ₹549– ₹577 per share, while the lot size is set at 25 shares, requiring a minimum investment of ₹14,425 for retail investors. The mainboard IPO is proposed to list on both the NSE and BSE, tentatively on Friday, November 21.
The company plans to utilize the proceeds from the issue to fund its cloud infrastructure costs, invest in research, design, and development of its products and platforms, and purchase computer systems to support business operations.
Additionally, a portion of the funds will be allocated toward inorganic growth through potential acquisitions and for general corporate purposes.
In other issue details, the Capillary Technologies IPO allotment of shares is expected to be finalized on Wednesday, November 19. The company will initiate refunds on Wednesday, November 20, and the shares will be credited to the demat accounts of allottees on the same day following refunds.
JM Financial Ltd is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
About the company
Capillary Technologies is a software company that provides artificial intelligence (AI)-driven, cloud-native Software-as-a-Service (SaaS) products and solutions, primarily aimed at enterprise customers worldwide, to help foster loyalty among their consumers and channel partners.
The company is among the few players in the loyalty management sector offering comprehensive, end-to-end loyalty solutions. Some of Capillary’s notable clients include Tata Digital, ABFRL, Domino’s Pizza Indonesia, PT Blue Bird Tbk, Aditya Birla Fashion Limited, Arvind Fashions Limited, Metro Brands Limited, Puma Sports India Private Limited, Vishal Mega Mart, and InterGlobe Aviation Limited.
As of September 30, 2025, and March 31 of 2025, 2024, and 2023, the company served 110, 98, 111, and 112 customers and 413, 393, 398, and 339 brands, respectively.
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