CAPILLARY TECHNOLOGIES IPO
Key Details at a Glance
| IPO Period | 14th – 18th Nov 2025 |
|---|---|
| Listing on | 21 Nov 2025 |
| Price Band | ₹549 – ₹577 |
| Lot Size & Minimum Investment | 25 shares — ₹14,425 |
| Total Issue Size | ₹877.50 Crores |
Capillary Technologies, a prominent player in the customer loyalty and engagement software space, is set to launch its Initial Public Offering (IPO). This much-anticipated market event presents an opportunity for investors to participate in the growth story of a global SaaS company focused on empowering enterprises through AI-driven solutions. As a leader in its domain, Capillary Technologies aims to leverage this capital infusion to fuel its expansion plans and reinforce its technological edge.
Crucial Dates for Capillary Technologies IPO Applicants
Understanding the key dates associated with an IPO is essential for potential investors to plan their application process and track subsequent events. Here’s a detailed timeline for the Capillary Technologies IPO:
- Opening Date: 14 Nov 2025
- Closing Date: 18 Nov 2025
- UPI Payment Deadline: 18 Nov 2025 (5 PM)
- Allotment Announcement: 19 Nov 2025
- Refund Processing: 20 Nov 2025
- Demat Credit: 20 Nov 2025
- Stock Market Listing: 21 Nov 2025
- Mandate Validity End: 03 Dec 2025
- Anchor Investor Lock-in Release (50%): 19 Dec 2025
- Anchor Investor Lock-in Release (Remaining): 17 Feb 2026
*Dates may be revised as per official updates.
Understanding Capillary Technologies: A Deep Dive
Founded in India, Capillary Technologies operates in the dynamic software product sector, specializing in AI-based, cloud-native SaaS solutions. The company’s core mission is to help enterprises significantly enhance customer and partner loyalty. By focusing on designing end-to-end loyalty and engagement systems, Capillary Technologies enables brands to cultivate robust, data-driven relationships with their customers, thereby driving sustainable long-term growth.
The company’s comprehensive product suite includes Loyalty+ for advanced loyalty management, Engage+ for connected engagement, Insights+ for predictive analytics, Rewards+ for streamlined rewards management, and a robust Customer Data Platform (CDP) that provides unified customer insights. These innovative solutions are designed to empower brands to deliver highly personalized, real-time, and omni-channel experiences, ultimately leading to improved customer retention and enhanced sales performance.
Capillary Technologies has earned recognition as one of the global leaders in loyalty and engagement management, a testament to its impactful solutions and market presence. The company serves an extensive client base of over 410 brands across 47 countries, catering to diverse target markets including retail, BFSI (Banking, Financial Services, and Insurance), and hospitality. With strategic offices located in India, the United States, the United Kingdom, the UAE, and other key Asian regions, Capillary Technologies maintains a strong global footprint. Its market positioning is underpinned by a steadfast commitment to helping enterprises create sustainable consumer value through continuous innovation, advanced analytics, and intelligent technology.
IPO Structure and Capital Generation
The Capillary Technologies IPO is structured to raise a total of ₹877.50 Crores, combining fresh issuance of shares with an Offer for Sale (OFS) by existing shareholders. This dual approach ensures that capital is infused directly into the company for its growth initiatives while also providing an exit or partial monetization opportunity for early investors.
| Category | Amount (INR Crores) |
|---|---|
| Total Funds Raised | 877.50 |
| Fresh Issue Component | 345 |
| Offer for Sale Component | 532.50 |
The fresh issue component, accounting for ₹345 Crores, will directly contribute to Capillary Technologies’ financial strength, enabling the company to fund its strategic objectives and expansion plans. The Offer for Sale component, totaling ₹532.50 Crores, indicates the participation of existing investors offloading a portion of their holdings. This structure is common in IPOs, balancing new capital generation with shareholder liquidity.
Strategic Deployment of IPO Proceeds
Capillary Technologies has outlined a clear plan for the utilization of the capital raised through its fresh issue. These allocations are strategically designed to bolster the company’s infrastructure, enhance its product offerings, and pursue inorganic growth opportunities.
| Objective | Amount (INR Crores) | Allocation % |
|---|---|---|
| Funding cloud infrastructure costs | 120 | 34.78% |
| Investment in research, designing, and development of our products and platform | 151.54 | 43.92% |
| Investment in the purchase of computer systems for our business | 10.32 | 2.99% |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | 63.14 | 18.31% |
A significant portion of the proceeds, over 43%, is earmarked for research, design, and development, underscoring Capillary Technologies’ commitment to continuous innovation in its products and platform. Funding cloud infrastructure and purchasing computer systems will further strengthen its operational backbone. Additionally, a notable allocation for inorganic growth through acquisitions demonstrates the company’s intent to expand its market reach and capabilities, complemented by provisions for general corporate purposes to maintain operational flexibility.
Core Strengths Powering Capillary’s Growth
Capillary Technologies boasts several competitive strengths that position it favorably within the global SaaS market:
- **Leading SaaS Platform:** The company operates a leading SaaS-based loyalty and customer engagement platform, recognized for its strong presence across Asia and the Middle East. This established market position provides a solid foundation for continued growth.
- **AI-Driven Personalization:** Leveraging AI-driven analytics, Capillary Technologies empowers brands to effectively personalize customer experiences. This advanced capability is crucial for enhancing engagement and driving customer loyalty in today’s data-rich environment.
- **Strong Global Clientele:** The company serves a robust global clientele, including prestigious brands across key sectors such as retail, BFSI, and hospitality. This diverse and high-profile client base underscores the reliability and effectiveness of its solutions.
- **Scalable Cloud Infrastructure:** Capillary Technologies benefits from a scalable cloud-based infrastructure, offering multi-language and multi-currency capabilities. This allows the company to efficiently serve a global market and adapt to varying regional requirements.
- **Experienced Leadership:** The company is guided by experienced leadership with profound expertise in technology and enterprise solutions. This seasoned management team is vital for navigating market complexities and driving strategic innovation.
Navigating the Landscape: Potential Risks for Investors
While Capillary Technologies presents compelling growth opportunities, potential investors should also be aware of certain risk factors:
- **Client Concentration:** The company exhibits heavy dependence on a few large enterprise clients for a major share of its revenue. Any significant loss or reduction in business from these clients could adversely impact financial performance.
- **Evolving Technology Landscape:** The rapidly evolving technology landscape necessitates continuous innovation. Failure to keep pace with technological advancements or adapt to new market trends could affect the company’s competitive standing.
- **Data & Cybersecurity Risks:** As a data-intensive business, Capillary Technologies is exposed to risks related to data privacy, cybersecurity breaches, and evolving regulatory compliance requirements.
- **Intense Competition:** The company operates in a market with intense competition from various global SaaS and customer engagement platforms. This competitive pressure could impact pricing power, market share, and profitability.
- **Foreign Currency & Geopolitical Exposure:** Significant overseas operations expose Capillary Technologies to foreign currency fluctuations and geopolitical risks, which could affect its international revenue and operational stability.
Tracking Investor Engagement: Subscription Status Update
The subscription figures provide an early indication of investor interest in the Capillary Technologies IPO. As of the latest available information on November 14, 2025, the IPO has received moderate interest across various investor categories. The Grey Market Premium (GMP) is an unofficial indicator that can vary significantly and is not considered a reliable measure of an IPO’s true valuation. For accurate insights into investor demand, the subscription numbers published by exchanges are the most reliable indicators.
| Investor Category | Shares Reserved (Lakhs) | Shares Applied (Lakhs) | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 45.49 | 13.00 | 0.29 |
| Non-Institutional Investors (NII) | 22.75 | 6.36 | 0.28 |
| Retail Individual Investors (RII) | 15.17 | 3.99 | 0.26 |
| Total | 83.80 | 23.67 | 0.28 |
*GMP figures are unofficial and may vary; exchange data is more reliable.
Participate in the Capillary Technologies IPO
For investors looking to subscribe to the Capillary Technologies IPO, the application process is straightforward. Ensure you have a demat and trading account ready. Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes on November 18, 2025. Review the prospectus carefully to make an informed investment decision.
