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Home
InvestmentsIPOCapillary Technologies IPO

Capillary Technologies IPO

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Open Date

14 Nov 2025

Close Date

18 Nov 2025

Min Investment

₹ 13,725

Max Investment

₹ 5,00,000

Lot Size

25

Issue Size

₹ 895.32 Cr

Price Range

₹ 549 - ₹ 577
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
14 Nov 2025
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IPO Offer Ends
18 Nov 2025
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Allotment Finalisation
19 Nov 2025
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Refund Initialisation
20 Nov 2025
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Non-Institutional Buyers (sHNI)
20 Nov 2025
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Listing of Shares
21 Nov 2025
IPO Subscription Details as on 8 Dec 2025, 04:00 PM
Qualified Instituational Buyers (QiB)
38.71 x
Retail
15.82 x
Employees
6.88 x
Non-Institutional Buyer (bHNI)
69.41 x
Non-Institutional Buyer (sHNI)
26.39 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Capillary Technologies is a software product company offering AI-based cloud-native SaaS products and solutions primarily to Enterprise Customers globally to develop loyalty of their consumers and channel partners. The company provides a diversified product suite including advanced loyalty management platform (Loyalty+), connected engagement platform (Engage+), predictive analytics platform (Insights+), rewards management platform (Rewards+) and customer data platform (CDP) that allow customers to run end-to-end loyalty programs. Headquartered in India with significant global footprint across the United States, United Kingdom, United Arab Emirates and other Asian countries, the company supports over 410 brands in 47 countries as of September 30, 2025.
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Founded In

2012

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Director

Neelam Dhawan

Financials of Capillary Technologies India IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue255.37525.10598.26
Other Income10.8810.3413.61
Total Income
266.25535.44611.87
Total Expenses
324.59536.93533.30
Profit Before Tax-94.89-75.2610.68
Total Profit
-87.72-59.3813.28

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize funds towards cloud infrastructure costs to support scalable, cloud-based architecture for processing large volumes of data on real-time basis. The funds will be deployed to meet annual spend commitments with cloud service providers and expand cloud infrastructure capabilities.143
The company intends to invest in research and development activities to maintain competitive edge and develop AI-powered loyalty product features. The funds will be utilized for strengthening research and design capabilities and product platform development to serve diverse customer needs across geographies.72
The company proposes to purchase computer systems to enhance overall efficiency and productivity of workforce by equipping teams with modern, high-performance computing devices. The procurement will replace technologically obsolete hardware assets and support business continuity in hybrid work environment.10
The company proposes to deploy funds towards strategic acquisitions and general corporate purposes including meeting ongoing corporate contingencies, business requirements, employee expenses, brand building and marketing expenses. The acquisitions will focus on complementary businesses to enhance product and service capabilities.-
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  • Trusted Partner in Loyalty Solutions: The company has established itself as a leader in the global loyalty solutions industry with a decade-long track record, serving over 410 brands in 47 countries as of September 2025.
  • Comprehensive Solutions for Diverse Segments: The company provides a full-spectrum loyalty management platform including Loyalty+, Insights+, Engage+, Rewards+, and CDP, addressing wide range of use cases across industries.
  • Scalable Cloud-Based Infrastructure with Seamless Integration: The company's technology infrastructure is built on scalable, cloud-based architecture allowing customers to process large volumes of data in real-time with API-first platform integration.
  • Diverse Long-Term Customer Relationships with High Net Revenue Retention: The company serves diverse customer base with NRR rates of 115.42%, 143.48%, 121.25%, 112.68% and 139.01% for respective periods, including 19 Global Fortune 500 companies.
  • Strong Sales Engine and Partnership Network: The company has successful track record of adding new brands through organic growth and strategic acquisitions, with dedicated go-to-market team and 12 collaborations as of September 30, 2025.
  • Artificial Intelligence-driven Innovation: The company leverages AI-driven innovation through aiRA platform launched in May 2023, with Creatives Co-Pilot and Promotions Co-Pilot enhancing customer engagement and retention.
  • Proven Playbook to Integrate and Turnaround Acquired Businesses: The company has disciplined approach to acquisitions with revenues growing from ₹ 2,553.72 million in Fiscal 2023 to ₹ 5,982.59 million in Fiscal 2025 at CAGR of 53.06%.
  • Strong Financial Performance with Consistent Growth and Operating Leverage: The company demonstrated consistent growth with EBITDA turning positive at ₹ 398.22 million in six-month period ended September 30, 2025 and ₹ 785.73 million in Fiscal 2025.
  • Experienced Leadership Team backed by Marquee Investor Base: The company is led by experienced professionals with extensive experience in loyalty and CRM space, supported by 737 full-time employees including 260 research and development team members.

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