Capillary Technologies IPO: Check IPO Date, Live Subscription and Key Details
Capillary Technologies is a software product company specializing in AI-powered, cloud-based SaaS solutions for customer and partner loyalty and engagement management. It is recognized as one of the global leaders in loyalty and engagement management (Zinnov Report, September 2025). The product suite includes Loyalty+, Engage+, Insights+, and a Customer Data Platform (CDP), helping clients deliver personalized, real-time, omni-channel experiences. The company serves over 410 brands across 47 countries, including 19 Global Fortune 500 companies, in sectors like retail, CPG, healthcare, and auto.
Price Range
₹549.0 - ₹577.0
Issue Size
₹877.5 Crore
Lot Size
25 shares
IPO Type
Mainboard
GMP
₹53(+9.19%)
Est. Listing Price
₹630
Invisible
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Invisible
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Key Metrics
Check Live GMP
Face Value
₹2
EPS
0.26
P/E Ratio
2,214.95
RoNW
2.85%
ROE
2.94%
Debt to Equity
0.18
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Timeline
IPO Opens
14 Nov
IPO Closes
18 Nov
Allotment
19 Nov
Listing
21 Nov
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 14 November 2025 | Subscription starts |
| IPO Close Date | 18 November 2025 | Subscription ends |
| Allotment Date | 19 November 2025 | Allotment |
| Listing Date | 21 November 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,425 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,87,525 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,01,950 |
SHNI (Max)Below ₹10,00,000 | 69 | ₹9,95,325 |
BHNIAbove ₹10,00,000 | 70 | ₹10,09,750 |
IPO Objectives
- Funding our cloud infrastructure cost (₹120.00 Cr).
- Investment in research, designing and development of our products and platform (₹151.54 Cr).
- Investment in purchase of computer systems for our business (₹10.32 Cr).
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Strengths
- The company is a trusted global leader in loyalty solutions, offering AI-powered, cloud-based loyalty management platforms.
- It provides a comprehensive and scalable loyalty management suite (Loyalty+, Engage+, Insights+) serving diverse market segments.
- The business has diverse, long-term customer relationships, supporting over 410 brands across 47 countries, including 19 Global Fortune 500 companies.
- It benefits from a strong sales engine and a proven playbook for integrating acquired businesses, aiding rapid growth.
- The company achieved a significant turnaround to profitability in FY25 (₹14.15 Cr PAT), reversing a history of losses, indicating successful operational transition.
- IPO proceeds are heavily weighted towards R&D (₹151.54 Cr) and cloud infrastructure, strengthening its technology moat.
Weaknesses
- The P/E ratio of 302.09x (post-IPO) is extremely aggressive and relies entirely on achieving exponential future growth.
- The company has a history of Net Losses, and net profitability achieved in FY25 is very recent, raising concerns about its long-term sustainability.
- It is vulnerable to customer attrition, especially among large enterprise clients, given the highly competitive SaaS landscape.
- The IPO includes a large Offer for Sale (OFS) component of ₹532.50 Cr, meaning a majority of the funds will not be infused into the company.
- The business has high working capital needs and relies heavily on the effective deployment of IPO proceeds to sustain its ambitious growth initiatives.
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Financial Performance
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 892.33 | 838.65 | 871.07 | 466.41 |
| Revenue (₹ Cr.) | 362.56 | 611.87 | 535.44 | 266.25 |
| PAT (₹ Cr.) | 1.03 | 14.15 | -68.35 | -88.56 |
| Net Worth (₹ Cr.) | 509.38 | 481.42 | 452.13 | 99.75 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Capillary Technologies | 8.87 | 2,214.95 | 2.76% | 509.38 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.29x | 0.31x | 57.3x |
| NII | 0.28x | 0.56x | 69.83x |
| S-HNI | 0.06x | 0.47x | 38.64x |
| B-HNI | 0.39x | 0.6x | 85.42x |
| RII | 0.28x | 1.09x | 15.71x |
| EMP | 0.92x | 1.96x | 6.86x |
| Total | 0.29x | 0.52x | 52.94x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 45,49,427 | 26,06,87,700 | 15,041.68 |
| NII | 22,75,486 | 15,88,88,525 | 9,167.87 |
| Small NII | 7,58,495 | 2,93,09,225 | 1,691.14 |
| Big NII | 15,16,990 | 12,95,79,300 | 7,476.73 |
| RII | 15,16,990 | 2,38,24,625 | 1,374.68 |
| EMP | 38,095 | 2,61,375 | 15.08 |
| Total | 83,79,998 | 44,36,62,225 | 25,599.31 |
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Company Details
- Capillary Technologies India Ltd.
- #360 bearing PID No 101, 360, 15th Cross Rd, Sector 4, HSR Layout, Bengaluru, Karnataka, Bengaluru, -560102
- +91 80 4122 5179
- investorrelations@capillarytech.com
- http://www.capillarytech.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- capillarytechnologies.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html