Capillary Technologies IPO will open for subscription on November 14, 2025 and closes on November 18, 2025. Founded in 2008 and headquartered in Bengaluru, Capillary Technologies India Ltd is a leading Indian software-as-a-service company focused on customer loyalty and engagement.
So, let’s find out all the details about the Capillary Technologies IPO, including the important dates, issue size, proceeds usage, financials, peer performance, and risk factors.
Capillary Technologies IPO Date
The key pointers for the Capillary Technologies IPO dates are:
- Bidding Opening Date: November 14, 2025
- Bidding Closing Date: November 18, 2025
- Allotment Date: November 19, 2025
- Initiation of Refunds (in case of less or no allotment): November 20, 2025
- Shares Credited to Your Demat Account: November 20, 2025
- IPO Listing Date: November 21, 2025
- Listing on Exchange: BSE and NSE
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Capillary Technologies IPO Issue Size
Capillary Technologies IPO valuation, as denoted by the market capitalisation, is targeted at ₹4,576.09 crores. Here are the essential details:
- Capillary Technologies IPO Price Band: ₹549 to ₹577 per share
- Lot Size: 25 Shares
- Face Value: ₹2 per share
- Total Issue Size and Amount: 1.52 crore shares (aggregating up to ₹877.50 crores)
- Fresh Issue Size and Amount: 59 lakh shares (aggregating up to ₹345 crores)
- Offer for Sale and Amount: 92 lakh shares of ₹2 (aggregating up to ₹532.50 crores)
Capillary Technologies IPO Proceeds Usage
The offer for sale amount of ₹532.50 crores will go towards the selling shareholders, Capillary Technologies International Pte. Ltd and Trudy Holdings.
The company plans to deploy the fresh issue proceeds of ₹345 crores towards the following objectives:
- The company intends to use ₹143 crores to fund its cloud infrastructure costs.
- It will allocate ₹72 crores towards research, design and development of its products and platform.
- A further ₹10.32 crores will be used to purchase computer systems for business operations.
- The balance of the proceeds will support inorganic growth through unidentified acquisitions and general corporate purposes.
Capillary Technologies IPO Reservations
Capillary Technologies IPO reservations to different investors are:
- For QIBs: Not less than 75% of the Net Offer
- For NIIs: Not more than 15% of the Net Offer
- For Retail Investors: Not more than 10% of the Net Offer
Capillary Technologies IPO Lot Size
The Capillary Technologies IPO lot size is 25 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,425 |
| S-HNI (Min) | 14 | 350 | ₹2,01,950 |
| B-HNI (Min) | 70 | 1,750 | ₹10,09,750 |
Capillary Technologies IPO Details: Promoter Holding
Capillary Technologies International Pte Ltd and Aneesh Reddy Boddu are the company promoters.
Capillary Technologies India Ltd: Company Overview
Capillary Technologies India Ltd, founded in 2008 and headquartered in Bengaluru, is a leading software-as-a-service provider for customer loyalty and engagement. Its cloud platform covers loyalty management, omnichannel CRM, marketing automation, and AI-led analytics, helping brands personalise journeys and measure impact.
The product suite, Loyalty+, Insights+, Engage+, and Rewards+, integrates smoothly with enterprise systems and supports coalitions, retail networks, and energy retail, including customer and fleet programmes.
Capillary serves 250 plus brands across more than 30 countries, including Tata, Domino’s, Jockey, PUMA, and Shell. The business is subscription-led with services and support, backed by long-term relationships and high net revenue retention.
The company helps consumer brands understand their customers better and build stronger relationships across touchpoints.
Its platform combines loyalty management, engagement tools and analytics to deliver data-driven insights, personalise communications and measure programme impact. Capillary’s products are designed to improve retention, lift repeat purchases and increase lifetime value, while offering brands a single view of the customer.
Backed by domain expertise and a scalable cloud architecture, the company serves enterprises seeking to modernise loyalty and run targeted campaigns with consistent reporting and compliance.
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Capillary Technologies IPO: Financial Performance
Capillary Technologies India Ltd’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Operating Revenue | 598 | 525 | 14% |
| Profit After Tax | 14 | -68 | 121% |
| EBITDA | 79 | -1 | 5373% |
| Net Worth | 481 | 452 | 6% |
| Assets | 839 | 871 | -4% |
| Total Borrowing | 100 | 77 | 30% |
| Annual Recurring Revenue | 608 | 546 | 11% |
| New Annual Contract Value | 122 | 115 | 7% |
| Customer Acquisition Cost (CAC as a % of Revenue) | 18% | 18% | -0.2% |
- Capillary Technologies India Ltd reported an operating revenue of ₹598 crores in FY25, at a 14% year-on-year growth.
- Net profit stood at ₹14 crores in FY25, reflecting a 121% improvement YoY from a loss of ₹68 crores in FY24.
- EBITDA surged to ₹79 crores in FY25, representing a massive 5373% increase YoY.
- Net worth increased to ₹481 crores in FY25, showing a 6% rise over the previous year.
- Total assets stood at ₹839 crores in FY25, indicating a 4% decline compared to FY24.
- Total borrowings rose to ₹100 crores in FY25, registering a 30% increase YoY.
- Annual recurring revenue reached ₹608 crores in FY25, up 11% year-on-year.
- New annual contract value came in at ₹122 crores in FY25, recording a 7% YoY growth.
- Customer acquisition cost remained stable at 18% of revenue in FY25, showing a marginal 0.2% decline YoY.
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Capillary Technologies IPO Peer Comparison
Here is the peer comparison table for Capillary Technologies India Ltd with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Capillary Technologies | 1.93 | 298.93 | 2.85 |
| Salesforce, Inc. | 540.79 | 40.07 | 10.26 |
| Adobe Inc. | 1,038.29 | 28.60 | 36.74 |
| HubSpot, Inc. | 7.53 | – | 0.29 |
| Braze, Inc. | -85.65 | – | -22.58 |
- EPS: Capillary Technologies India Ltd’s earnings per share (EPS) is quite low at ₹1.93 as compared to leading players like Salesforce with an EPS of ₹540.79.
- P/E Ratio: This IPO is coming at a very high valuation with a P/E ratio of 298.93.
- Return on Net Worth: Similarly, its RoNW is just 2.85% in FY25, as compared to other peers.
Capillary Technologies IPO Risk Factors
Capillary Technologies IPO GMP is nil as of November 13, 2025. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Capillary Technologies IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Revenue is concentrated, with the top 10 customers contributing 58.71% in FY25 and 55.70% in the six months ended 30 September 2025, which heightens dependence on a few accounts.
- The business is geographically skewed, as North America generated 56.59% of FY25 revenue, exposing results to region-specific conditions.
- The company has a history of losses in FY23 and FY24 and has reported negative operating cash flow in specific periods, which may recur.
- Acquisitions such as Persuade and Kognitiv carry integration risks that could disrupt operations or delay synergies.
- Performance is heavily reliant on key personnel for product development, delivery, and client retention, making talent retention critical.
- Future growth depends on continuous innovation and timely product upgrades to stay competitive.
For all the insights on Capillary Technologies IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Capillary Technologies IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. When is the Capillary Technologies IPO opening and when will it list?
Capillary Technologies IPO opens on November 14, 2025 and closes on November 18, 2025. The basis of allotment is expected on November 19, 2025, refunds and Demat credit are slated for November 20, 2025, and the shares are scheduled to list on the BSE and NSE on November 21, 2025.
2. What is the Capillary Technologies IPO lot size, and minimum investment?
Capillary Technologies IPO price band is ₹549 to ₹577 per share, and the lot size is 25 shares, so the minimum retail application is one lot costing ₹14,425 at the cap price.
3. How big is the Capillary Technologies IPO issue and how is it structured?
The total issue size of Capillary Technologies IPO is ₹877.50 crores, comprising a fresh issue of ₹345 crores and an offer for sale of ₹532.50 crores, with reservations set at not less than 75% for QIBs, not more than 15% for NIIs, and not more than 10% for retail.
Author: All Content is verified by SMC Global Securities.
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- 20 Lac+ unique clients
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