Capillary Technologies India, an AI-based SaaS company specializing in loyalty management solutions, has announced its Initial Public Offering (IPO) with a price band of Rs 549-577 per equity share. The IPO is set to open for subscription on November 14 and will close on November 18, 2025.

IPO Details

Company Overview

Capillary Technologies India provides loyalty management solutions to over 410 brands across 47 countries. The company's AI-based SaaS platform helps businesses enhance customer engagement and loyalty.

Financial Performance

For the six months ended September 30, 2025, Capillary Technologies reported:

This shows an increase from Rs 287.00 crore reported in the same period last year.

Utilization of IPO Proceeds

The net proceeds from the fresh issue will be allocated as follows:

Market Sentiment

As of the report date, the stock showed no grey market premium, indicating neutral market sentiment towards the IPO.

Investors interested in the AI and SaaS sectors may find this IPO worth considering, given Capillary Technologies' established presence in multiple countries and its focus on loyalty management solutions. However, as with any investment decision, it's crucial to thoroughly research the company's financials, growth prospects, and the overall market conditions before participating in the IPO.

Capillary Technologies India, a leading SaaS firm, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company aims to raise Rs 430 crore through a fresh issue of shares, marking a significant milestone in its growth journey.

IPO Structure

The IPO comprises two components:

1. A fresh issue of shares worth Rs 430 crore
2. An offer for sale of 1.83 crore shares by existing shareholders

The existing shareholders participating in the offer for sale include:

• Capillary Technologies International Pte Ltd
• Ronal Holdings LLC
• Trudy Holdings
• Filter Capital India Fund I

Utilization of Funds

Capillary Technologies has outlined clear objectives for the utilization of the IPO proceeds:

The remaining funds will be allocated for acquisitions and general corporate purposes, positioning the company for future growth and expansion.

Company Profile and Performance

Capillary Technologies offers AI-based cloud-native SaaS products to enterprise customers, supporting over 390 brands across more than 45 countries. The company has demonstrated strong financial performance:

• Revenue increased by 14% to Rs 598.00 crore, up from Rs 525.00 crore in the previous fiscal year.
• The company turned profitable, reporting a profit of Rs 13.28 crore, compared to a loss of Rs 59.38 crore in the previous fiscal year.

IPO Timeline and Management

Capillary Technologies filed its preliminary papers in June and received SEBI observations on September 22, paving the way for the IPO. The book-running lead managers for the offering are:

• JM Financial
• IIFL Capital Services
• Nomura Financial Advisory

The company plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

This IPO represents a significant opportunity for Capillary Technologies to access public markets and fuel its next phase of growth in the competitive SaaS industry.