SaaS firm Capillary Technologies IPO To Open On Nov 14, Cuts Issue Size

Capillary Technologies India, a Bengaluru-based SaaS company, filed its Red Herring Prospectus (RHP) with the Registrar of Companies on November 7. The company plans to launch its first public issue on November 14.

Capillary Technologies’ IPO anchor book will open on November 13 for a day, while the public issue will be open for investors from November 14 to 18. The company will finalise share allotments on November 19, and its shares are expected to begin trading on the BSE and NSE on November 21.

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The company plans to raise ₹345 crore through the issue of fresh shares, while promoter Capillary Technologies International and investor Trudy Holdings will sell over 92.28 lakh shares through an offer for sale (OFS).

The company, which provides AI-based cloud-native SaaS products and solutions, has reduced the size of its IPO. According to the DRHP refiled in June this year, the fresh issue was earlier set at ₹430 crore, with an offer-for-sale of 1.83 crore equity shares. SEBI approved the draft document in September 2024.

Promoters currently hold a 67.18% stake in Capillary Technologies India, while the remaining 32.82% is owned by public shareholders. Key investors include Ronal Holdings (7.53%), AVP Fund (5.51%), Trudy Holdings (4.49%), Filter Capital India Fund (3.66%), and Schroders Capital (1.54%).

Promoter Capillary Technologies International is backed by Qualcomm, Peak XV Partners, and Xto10x Technologies.

Founded by Aneesh Reddy Boddu, Capillary Technologies plans to use ₹143 crore for cloud infrastructure, ₹71.6 crore for research, design, and product development, and ₹10.3 crore for purchasing computer systems. The remaining funds will be used for inorganic growth and general corporate purposes.

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