Capillary Technologies raises Rs 394 crore from 21 anchor investors, IPO to open on November 14

Capillary Technologies IPO News

Capillary Technologies India, which offers artificial intelligence-based cloud-native Software-as-a-Service (SaaS) products and solutions, has raised nearly Rs 394 crore from 21 anchor investors on November 13, a day before the IPO opening for the public.

The Bengaluru-based company aims to mobilise Rs 877.5 crore via initial public offering (IPO) which is a mix of fresh issuance of shares worth Rs 345 crore, and an offer-for-sale of 92.28 lakh shares amounting to Rs 532.5 crore by promoter Capillary Technologies International, and investor Trudy Holdings.

The public issue will open for subscription on November 14 and close on November 18, with price band of Rs 549-577 per share.

The AI-powered loyalty and customer engagement solutions company, which is backed by Ronal Holdings, AVP Fund, Trudy Holdings, and Filter Capital, has finalised allocation of 68.28 lakh equity shares to anchor investors at the upper price band.

"Out of the total allocation to the anchor investors, 46.1 lakh shares (i.e. 67.52 percent) were allocated to 9 domestic mutual funds including SBI Mutual Fund, ICICI Prudential MF, Kotak Mahindra AMC, Axis MF, Aditya Birla Sun Life AMC, Mirae Asset, Edelweiss, PGIM India, and Union MF," Capillary in its filing to exchanges on Thursday said.

Other investors that participated in the anchor book were Amundi Funds, HSBC Global, ValueQuest India, Matthews India Fund, Optimix Wholesale Global, Pinebridge Global Funds, Hornbill and Innoven Capital India.

Aneesh Reddy Boddu-founded Capillary will spend Rs 143 crore of fresh issue proceeds for cloud infrastructure, and Rs 71.6 crore for research, designing and development of products and platform.

Further, Rs 10.3 crore will be used for purchase of computer systems for business, and the remainder funds for inorganic growth and general corporate purposes.

JM Financial, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are acting as the merchant bankers for handling the Capillary Technologies IPO.