Capillary Technologies India Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹549 - ₹577
- Lot size
- 25 shares
- Issue amount
- ₹877.5 cr
- Total subscription
- 52.97×
- Opens
- 14 Nov 2025
- Closes
- 18 Nov 2025
- Allotment
- 19 Nov 2025
- Listing
- 21 Nov 2025
Offer at a glance
Issue overview
- Issue size
- 1,52,07,999 shares
- Face value
- ₹2 Per Share
- Minimum investment
- ₹13,725
- Fresh issue
- ₹345 cr
- Offer for sale
- ₹532.5 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,425
- Issue type
- Bookbuilding IPO
- Shares before issue
- 7,33,29,138
- Shares after issue
- 7,93,08,340
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 25 | ₹14,425 |
| sHNI | 14 | 350 | ₹2,01,950 |
| bHNI | 70 | 1,750 | ₹10,09,750 |
Share reservation
Subscription & GMP
Subscription by category
Reported 18 Nov 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 60,680 | 57,419 |
| EMPLOYEES | 0 | 658 |
| HNIs(10L +) | 4,334 | 71 |
| HNIs (2-10L) | 2,167 | 2,173 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 262.5 | 15,041.68 |
| FIIs | 0 | 6,407.69 |
| FIs | 0 | 3,030.13 |
| Mutual Funds | 0 | 1,807.2 |
| Others | 0 | 3,796.66 |
| RETAIL | 87.53 | 1,384.86 |
| HNIs 2+ | 43.77 | 1,694.39 |
| HNIs 10+ | 87.53 | 7,476.73 |
| EMPLOYEES | 2.2 | 15.12 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 0.14 | 1.93 | -12.15 | -17.63 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 | 0 |
| RONW | 0.22 | 2.85 | -21.52 | -135.93 |
| PRE IPO(PE) | 0 | 298.93 | 0 | 0 |
| POST IPO(PE) | 2,214.95 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Capillary Technologies India Limited | 0 | 0 | 0 | 65.03 | 2.85 | 1.93 |
| Salesforce, Inc | 40.07 | 0 | 0 | 5,441.60 | 10.26 | 540.79 |
| Adobe Inc | 28.60 | 0 | 0 | 2,650.28 | 36.74 | 1,038.29 |
| HubSpot, Inc | 0 | 0 | 0 | 3,153.16 | 0.29 | 7.53 |
| Braze, Inc | 0 | 0 | 0 | 402.61 | -22.58 | -85.65 |
Company information
Company profile
Capillary Technologies India Ltd, founded in 2008 and based in Bengaluru, is a leading SaaS company that helps brands build strong customer relationships through loyalty and engagement solutions. It offers a range of products, including customizable loyalty programs, AI-powered analytics, marketing automation, and omnichannel CRM tools that enable personalized communication across SMS, email, and other platforms. Serving over 250 brands in 30+ countries — including Tata, Domino’s, PUMA, Jockey, and Shell — Capillary operates on a subscription-based model, providing software, services, and support to enhance customer engagement and business growth.
Strengths
- Leadership in Customer Engagement Solutions: A market leader in SaaS-based loyalty and engagement platforms with strong presence across industries such as retail, FMCG, and hospitality.
- Comprehensive and Scalable Offerings: Delivers a fully integrated product suite—Loyalty+, Insights+, Engage+, and Rewards+—providing end-to-end, customizable solutions for businesses of all sizes.
- Diverse Global Clientele: Trusted by over 250 leading brands across 30+ countries, ensuring stable recurring revenues and long-term customer relationships through innovative, data-driven SaaS solutions.
Risk factors
- Revenue Concentration Risk: A major portion of revenue comes from the top 5 and 10 customers (43.35% and 58.71%, respectively), making the company vulnerable to loss of key clients and revenue fluctuations.
- Regional Dependency: Significant reliance on the North American market (56.59% of FY25 revenue) exposes the business to potential risks from regional economic slowdowns or regulatory changes.
- Rising Customer Acquisition Costs: Increasing marketing and client acquisition expenses could pressure margins and profitability if new customer growth does not offset these costs.
Promoters
Capillary Technologies International Pte Ltd
Aneesh Reddy Boddu
Registrar & documents
Lead manager
IIFL Capital Services Limited, Jm Financial Limited, Nomura Financial Advisory And Securities (India) Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
#360 bearing PID No 101, 360, 15th Cross Rd, Sector 4, HSR Layout, Bengaluru, Karnataka Bengaluru, Karnataka, 560102
+91 80 4122 5179
[email protected]Company website ↗Understanding CAPILLARY IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.