Capillary Technologies India IPO – An Overview and Company Insight
The Capillary Technologies India IPO GMP is already attracting considerable attention as the Bengaluru-based SaaS company, focused on AI-driven loyalty, engagement and customer-data platforms for enterprise clients, prepares for its listing. Capillary serves over 400 brands across more than 45 countries, making it a rare Indian tech company with global enterprise exposure. The IPO is structured as a mix of fresh issue and Offer for Sale (OFS): the fresh issue will fund technology, infrastructure, R&D and inorganic growth, while the OFS provides liquidity to existing shareholders. Given its turnaround from losses to profitability, and the growth prospects in enterprise SaaS, this IPO has strong appeal under the loyalty/engagement-tech theme.
Capillary Technologies India IPO – Grey Market Premium (GMP)
Grey market sentiment shows modest optimism for Capillary Technologies India IPO GMP. With the price band set at ₹ 549 to ₹ 577, early GMP indications suggest a premium of around ₹ 30-₹ 40 above the upper band, implying potential listing gains in the range of 5-8%, assuming stable demand and sentiment. Because part of the issue is OFS and because the company operates in the relatively riskier SaaS sector (vs traditional manufacturing), GMP remains cautious yet positive.
| Metric | Estimate / Observation |
|---|---|
| Approximate GMP | ₹ 30-₹ 40 above upper price band |
| Upper Price Band | ₹ 577 |
| Implied Listing Price (if GMP holds) | ~ ₹ 607-₹ 617 |
| Implied Listing Gain (%) | ~ 5-8% |
| Key Drivers | Enterprise SaaS growth, global clients, profitability turnaround |
| Key Risks | Valuation premium, OFS portion, tech sector exposure |
Pricing Details and Lot Size – Capillary Technologies India IPO
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Price Band: ₹ 549 to ₹ 577 per equity share (face value ₹ 2)
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Minimum Lot Size: 137 shares per application
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Minimum Retail Investment: At upper band (₹ 577) –> 137 × ₹ 577 ≈ ₹ 79,049
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Issue Composition: Fresh issue of ~₹ 345 crore + OFS component (selling by existing shareholders) ~₹ 532 crore, total issue size ~₹ 877 crore
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Allocation: Typically retail portion ~10%, NIIs ~15%, QIBs ~75% (subject to final allocation)
| Parameter | Detail |
|---|---|
| Price Band | ₹ 549 – ₹ 577 per share |
| Face Value | ₹ 2 per share |
| Minimum Lot Size | 137 shares |
| Minimum Retail Investment | ~ ₹ 79,000 |
| Fresh Issue Size | ~ ₹ 345 crore |
| OFS Size | ~ ₹ 532 crore |
| Total Issue Size | ~ ₹ 877 crore |
IPO Timelines at a Glance – Capillary Technologies India IPO
| Event | Date |
|---|---|
| IPO Opens | 14 November 2025 |
| IPO Closes | 18 November 2025 |
| Basis of Allotment Finalised | 19 November 2025 |
| Shares Credited / Refunds Initiated | 20 November 2025 |
| Listing Date | 21 November 2025 |
How To Check the Allotment Status of the Capillary Technologies India IPO
After the IPO subscription closes and allotment is finalised:
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Visit the MUFG Intime India website and locate the “IPO Allotment Status” section: enter your PAN number, Application Number, or Demat ID to check if shares have been allotted.
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On the NSE/BSE portals: Under “Corporate Actions → IPO Allotment Status”, select Capillary Technologies India Ltd, fill in required credentials to view allotment status.
Ensure you have your PAN, application number and Demat account details ready for quick verification.
Book-running Lead Managers and Registrar – Capillary Technologies India IPO
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Book-running Lead Managers (BRLMs): JM Financial, IIFL Capital Services, Nomura Financial Advisory & Securities (India)
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Registrar: MUFG Intime India Pvt. Ltd.
Offer for Sale and IPO Size Breakdown – Capillary Technologies India IPO
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Total Issue Size: ~₹ 877 crore
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Fresh Issue Component: ~₹ 345 crore
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Offer for Sale (OFS) Component: ~₹ 532 crore by existing shareholders/promoters
Proceeds from the fresh issue will flow into the company for growth initiatives; the OFS portion is for existing shareholders to monetize partly.
Utilisation of Fresh Issuance and Technological Advancements – Capillary Technologies India IPO
Use of Funds (Fresh Issue):
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Investment in cloud infrastructure and enterprise platform enhancements
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Research, design and development of new SaaS products and analytics capabilities
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Purchase of computer systems and technology upgrades
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Strategic acquisitions to expand footprint and product-suite
Tech & Operational Focus: -
Capillary’s platform suite (Loyalty+, Engage+, Insights+, CDP) enables global brands to run omnichannel loyalty programmes and unified consumer-data strategies
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With profitable operations and global enterprise clients, the company is poised to scale both organically and via acquisitions.
IPO Financial Information
The company has shown a healthy turnaround: for the fiscal year ended March 31 2025, Capillary Technologies reported revenue of around ₹ 598 crore (up from ~₹ 525 crore in FY24). It reported a net profit of ~₹ 14 crore in FY25, compared to a loss of ~₹ 59 crore in FY24. EBITDA turned positive as well. These financials reflect recovery in the business, improvement in cost structure and stronger scale of operations.
| Fiscal Year Ending March | Revenue (₹ crore) | Profit / (Loss) After Tax (₹ crore) |
|---|---|---|
| FY 2024 | ~ ₹ 525 | (Loss) ~ ₹ −59 |
| FY 2025 | ~ ₹ 598 | ~ ₹ 14 |
Conclusion
The Capillary Technologies India IPO represents an interesting opportunity in the enterprise SaaS space—anchored in brand loyalty, global users, and technology. With the Capillary Technologies India IPO GMP indicating a potential modest listing premium and the company showing profitability turnaround, it could appeal to medium-term growth investors. That said, risks like valuation at the upper band, heavy OFS component, and competitive SaaS environment must be carefully weighed. If you believe in the growth of enterprise tech adoption and global brand loyalty programs, this IPO could be attractive.
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Disclaimer
This write-up is for informational purposes only and should not be considered investment advice or a recommendation to subscribe to the Capillary Technologies India IPO. Investors should carefully read the Red Herring Prospectus (RHP), assess all risk factors, compare valuation and peer companies, and consult a qualified financial adviser before making investment decisions. The Capillary Technologies India IPO GMP figure mentioned is based on current market chatter and may change. TradeSmart and its associates are not liable for any financial loss arising from decisions based on this content.

