The IPO will close for subscription on November 18, 2025.
About the company
Capillary Technologies is a software product company offering artificial intelligence (AI)-based cloud-native Software-as-a-Service (SaaS) products and solutions primarily to enterprise customers globally to develop loyalty of its consumer and channel partners.The company claims to be among one of the few players in the loyalty management space that offer end-to-end loyalty solutions. Its diversified product suite, which includes its advanced loyalty management platform (Loyalty+), connected engagement platform (Engage+), predictive analytics platform (Insights+), rewards management platform (Rewards+) and customer data platform (CDP) allows its customers to run end-to-end loyalty programmes, get a comprehensive view of consumers and offer unified, cross-channel strategies that deliver a real-time omni-channel, personalised, and consistent experience for customers.
The company supports over 410 brands in 47 countries, as of September 30, 2025, with the aim that businesses build consumer value using the company’s innovative solutions.
About the issue
The offer is being made through the book-building process, where not more than 75% of the net offer is allocated to qualified institutional buyers (QIBs), up to 15% of the net offer is assigned to non-institutional bidders (NIIs) and up to 10% of the net offer is allocated for retail individual bidders.Retail investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter.
Capillary Technologies IPO
Capillary Technologies shares were not commanding any grey market premium (GMP) as of 2 pm on Tuesday, November 11.
Capillary Technologies IPO timeline
The allotment of shares is likely to happen on Tuesday, November 19 while initiation of refunds on Wednesday, November 20. The credit of shares to demat accounts of applicants is expected on the same day. The stock is likely to get listed on Friday, November 21.
Capillary Technologies India IPO proceeds
The net proceeds from the fresh issue to the extent of up to Rs 143 crore will be utilised for funding its cloud infrastructure costs. Another Rs 71.6 crore will be used towards research, designing and development of the company’s products and platform.
The company will use Rs 10.34 crore for investment in the purchase of computer systems for its business and the balance for funding inorganic growth through unidentified acquisitions and general corporate purposes.
Capillary Technologies said that the amount to be utilised for general corporate purposes and towards unidentified acquisitions and other strategic initiatives will not exceed 35% of the gross proceeds.
Capillary Technologies financials
The company’s consolidated revenue from operations for the six months ended September 30, 2025 was Rs 359 crore versus Rs 287 crore for the six months ended September 30, 2024.
Its consolidated revenue from operations was at Rs 598 crore during FY25 versus Rs 525 crore during FY24 and Rs 255 crore during FY23.
Capillary Technologies IPO lead managers
JM Financial Limited, IIFL Capital Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead managers and MUFG Intime India Private is the registrar of the offer.
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