Capillary Technologies gets SEBI nod for IPO

Capillary Technologies, the Bengaluru-headquartered SaaS company, on Tuesday received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering.

The IPO of Capillary Technologies will be a combination of a fresh issue of shares worth Rs 430 crore and an offer for sale of 1.83 crore shares by existing shareholders.

The company had first filed its preliminary IPO papers in June this year. Capillary Technologies will use the funds for cloud infrastructure and investment in product research and development.

It will allocate around Rs 120 crore towards cloud infrastructure, Rs 151.5 crore for research, design, and development of its products and platform, and Rs 10.3 crore for the purchase of computer systems. A portion of the funds will also support growth through unspecified acquisitions and for general corporate purposes.

The SaaS firm reported a 14% annual increase in revenue from operations at Rs 598 crore in FY25, up from Rs 525 crore in FY24. It also posted a net profit of Rs 13.3 crore in FY25, reversing a net loss of Rs 59.4 crore in the previous year.

Founded in 2008 by Aneesh Reddy, Capillary Technologies offers solutions across the segments of CRM, loyalty, and engagement for brands across multiple countries, including India.

The promoter Capillary Technologies International Pte. Ltd holds a 65.47% stake in the company. Among other key shareholders, Ronal Holdings owns 7.53%, AVP Fund (Avataar Ventures) holds 5.51%, while Trudy Holdings and Filter Capital India have stakes of 4.49% and 3.66%, respectively.