Capillary Technologies sets IPO price band at Rs 549-577 per share, Trudy Holdings to sell shares at over 80% premium via OFS

Capillary Technologies IPO News

Bengaluru-based Capillary Technologies, the software product company offering artificial intelligence-based cloud-native Software-as-a-Service (SaaS) products and solutions, has fixed price band at Rs 549-577 per share for its initial public offering.

The company is raising Rs 877.5 crore at the upper price band, via public issue that will open for subscription on November 14 and close on November 18.

Aneesh Reddy Boddu-founded Capillary is set to raise Rs 345 crore via fresh issue, while promoter Capillary Technologies International, and investor Trudy Holdings will be offloading 92.28 lakh shares worth Rs 532.5 crore through offer-for-sale.

Trudy Holdings, which holds 4.49 percent stake (of pre-offer paid-up equity i.e. 32.9 lakh shares) in the SaaS firm, will be selling 6.88 lakh shares via offer-for-sale at more than 80 percent premium to the weighted average cost of acquisition per share of Rs 319.33.

Investors can bid for a minimum of 25 equity shares and in multiples of 25 shares thereafter. The company has reserved Rs 2 crore worth shares for its employees who will get these shares at a discount of Rs 52 per share to the final offer price.

Apart from promoter Capillary Technologies International holding 65.47 percent stake in the company, Ronal Holdings is the second largest shareholder with 7.53 percent stake, AVP Fund II (5.51 percent), Trudy Holdings (4.49 percent) and Filter Capital India Fund (3.66 percent).

Capillary that claims one of the few companies in the loyalty management space offering entire loyalty solutions will spend Rs 143 crore of fresh issue proceeds for cloud infrastructure, and invest 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, and the remainder funds for unidentified acquisitions and general corporate purposes.

The company has reserved up to 75 percent of the offer size for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 10 percent for retail investors.

Capillary that earned over 56 percent of its business from North America, 24 percent from Asia Pacific and more than 19 percent from EMEA has recorded revenue at Rs 359.2 crore for the first half of FY26, growing 25 percent over Rs 287.2 crore in the corresponding period last fiscal. Profit in the same period stands at Rs 1 crore against loss of Rs 10.2 crore.

Profit in the fiscal 2025 came in at Rs 14.1 crore against loss of Rs 68.3 crore in previous financial year. Revenue from operations during the same period increased by 14 percent to Rs 598.3 crore, up from Rs 525.1 crore.

JM Financial, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) are acting as the book running lead managers for the Capillary Technologies IPO.