Capillary Technologies raises Rs 394 cr from anchor investors ahead of IPO; Ravi Dharamshi’s Valuequest, Amundi among key backers – News Air Insight

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Capillary Technologies India has raised Rs 394 crore from a clutch of anchor investors ahead of its initial public offering (IPO) which opens for subscription on Friday, November 14. Ravi Dharamshi-backed Valuequest, French asset-management firm Amundi and HSBC are some of the marquee investors to have got the allotments.

The software product company allocated 68.28 lakh equity shares to 21 anchor investors at Rs 577 per share. In this, nearly 46.10 lakh equity shares accounting for 67.52% of the total allocation to anchor investors, were allocated to 9 domestic mutual funds through a total of 13 schemes.

Valuequest India Inflexion Fund, Amundi Funds New Silk and HSBC Global Investment Funds – Asia Ex Japan Equity Smaller Companies cornered 4.57% shares, each from the anchor quota.

Other big names that participated in the anchor bidding include SBI MF, ICICI Prudential, Kotak MF, Axis MF, Aditya Birla Sun Life MF and Mirae.

Capillary Technologies IPO GMP

Company’s shares were not commanding any grey market premium ahead as of 9:30 pm on Thursday.

IPO Details

The IPO is a fresh issue for Rs 345 crore and an offer for sale (OFS) for 9, 228, 796 shares. The three-day issue will close on Tuesday, November 18, 2025.The offer is being made through the book-building process and will fetch Rs 877.5 crore at the upper end of the price band.In the issue, up to 75% of the net offer is allocated to qualified institutional buyers (QIBs), up to 15% for non-institutional investors (NIIs) and up to and 10% for retail individual bidders.

The IPO Investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter.

Capillary Technologies India lead managers

JM Financial, IIFL Capital Services and Nomura Financial Advisory and Securities (India) Private Limited are the book-running lead manager while MUFG Intime India Private Limited is the registrar of the offer.

About the company

The company 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.

As of September 2025,,

The Company stands out as one of the global leaders in loyalty and engagement as of September 2025 based on benchmarking with its peer group and the breadth of its offerings, the company Red Herring Prospectus said, citing Zinnov Report.

Capillary Technologies supports over 410 brands in 47 countries, as of September 30, 2025.

Financials

The company’s consolidated revenue from operations for the six months ended September 30, 2025 was Rs 359.22 crore vis-à-vis Rs 287.18 crore for the six months ended September 30, 2024.

The Company’s consolidated revenue from operations was Rs 598.26 crore during FY25 vis-à-vis Rs 525 crore during FY24 & Rs 255.37 crore during FY23.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)



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