Capillary Technologies India, an artificial intelligence-based cloud-native software-as-a-solution (SaaS) products and solutions provider, has filed preliminary papers with the markets regulator Sebi to launch a public issue.
The company is planning to raise Rs 850 crore through its IPO that comprises a fresh issue of Rs 200 crore and an offer-for-sale of Rs 650 crore by promoter Capillary Technologies International Pte Ltd (CTIPL).
CTIPL holds 98.06 percent shareholding in the company.
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Capillary may consider raising Rs 40 crore through private placement, prior to the filing of the draft red herring prospectus with the Registrar of Companies. If the pre-IPO placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement, according to the filing with the Securities and Exchange Board of India.
The fresh issue proceeds will be utilised for repaying of debts, product development, technology upgrade and other growth initiatives, besides strategic investments and acquisitions, and general corporate purposes.
Capillary recorded a profit of Rs 16.94 crore on a revenue of Rs 114.9 crore for FY21, and clocked a profit of Rs 2.53 crore on a revenue of Rs 33.16 crore for the quarter ended June 2021.
The company offers artificial intelligence-based cloud-native software-as-a-Solution (SaaS) products and solutions such as automated loyalty management and customer data platforms (CDP).
Capillary claimed that they are the market leader in Asia-Pacific region with a 39 percent market share in terms of loyalty management capabilities in 2020 based on the geographies in which they operate.
ICICI Securities, Kotak Mahindra Capital Company, and Nomura Financial Advisory and Securities (India) are appointed as the book running lead managers to the issue.