Before Capillary Technologies’ IPO, anchor investors raised Rs. 394 crore collected; Ravi Dharamshi’s ValueQuest, Amundi among key backers

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Before Capillary Technologies’ IPO, anchor investors raised Rs. 394 crore collected; Ravi Dharamshi’s ValueQuest, Amundi among key backers

Capillary Technologies India has raised a clutch of anchor investors from a clutch of Rs. 394 crores have been collected. Ravi Dharamshi-backed ValueQuest, French asset-management firm Amundi and HSBC are some of the marquee investors who have bagged all the investments.

The software product company had allotted 68.28 lakh equity shares to 21 anchor investors at a price of Rs 577 per share. Out of this, about 46.10 lakh equity shares, accounting for 67.52% of the total allocation to anchor investors, were allotted to 9 domestic mutual funds through a total of 13 schemes.

Valuequest India Inflexion Fund, Amundi Funds New Silk and HSBC Global Investment Funds – Asia Ex Japan Equity Smaller Companies each acquired 4.57% of the anchor quota.

Other big names participating in the anchor bidding include SBI MF, ICICI Prudential, Kotak MF, Axis MF, Aditya Birla Sun Life MF and Meera.

Capillary Technologies IPO GMP

Shares of the company were not commanding any gray market premium as of 9:30 pm on Thursday.

IPO details

IPO Rs. 345 crore is a fresh issue and an offer for sale (OFS) for 9,228,796 shares. The three-day issue will close on Tuesday, November 18, 2025.

The offer is being made through a book-building process and is priced at the upper end of the price band of Rs. 877.5 crore will get.

In the issue, up to 75% of the net offer is allocated to qualified institutional buyers (QIBs), up to 15% to non-institutional investors (NIIs) and up to 10% to retail individual bidders.

IPO investors can bid for a minimum of 25 equity shares and thereafter in multiples of 25 equity shares.

Capillary Technologies India Lead Manager

JM Financial, IIFL Capital Services and Nomura Financial Advisory & Securities (India) Pvt Ltd are the book-running lead managers while MUFG Intime India Pvt Ltd is the registrar of the offer.

About the company

The company is a software product company offering artificial intelligence (AI) based cloud-native software-as-a-service (SaaS) products and solutions primarily to enterprise customers globally to build loyalty among its customers and channel partners.

As of September 2025,

The company stands out as one of the global leaders in loyalty and engagement based on its benchmarking with its peer group and the breadth of its offerings by September 2025, the company said citing the Red Herring prospectus. Zinov Report.

Capillary Technologies supports more than 410 brands in 47 countries as of September 30, 2025.

Financial

The company’s consolidated revenue from operations for the six months ended September 30, 2025 for the six months ended September 30, 2024 was Rs. 287.18 crore against Rs. 359.22 crores.

The company’s consolidated revenue from operations during FY25 was Rs. 598.26 crore against which during FY24 Rs. 525 crore and during FY23 Rs. 255.37 crores.

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times.)

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