Capillary Technologies is a Bengaluru-based SaaS company offering AI-driven, cloud-native loyalty and customer engagement solutions for large enterprise clients across the globe. The company helps brands build and manage loyalty programs, analyze customer behavior, and deliver personalized, omnichannel consumer experiences.
Its product suite includes:
- Loyalty+ – End-to-end loyalty program management
- Engage+ – Omnichannel customer engagement automation
- Insights+ – Predictive analytics and customer intelligence
- Rewards+ – Rewards and redemption management
- Customer Data Platform (CDP) – Unified consumer data with real-time segmentation
The platform is used across multiple industries such as Retail, CPG, Airlines, Hospitality, Fuel Retail, and BFSI, serving 390+ brands, including several Fortune 500 companies.
The company has expanded globally through strategic acquisitions, strengthening its presence in North America, EMEA, and APAC markets.
Capillary leverages AI & ML technologies to provide real-time personalization, improve customer retention, and drive loyalty-based revenue growth for enterprises.
Capillary Technologies IPO – Details
| IPO Opening Date | 14 November 2025 |
| IPO Closing Date | 18 November 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,52,07,999 Shares Worth ₹877.50 Crore Fresh Issue: 59,79,203 Shares Worth ₹345.00 Crore Offer For Sale: 92,28,796 Shares Worth ₹532.50 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹549 – ₹577 per share |
| Market Lot | 25 Shares |
| Min Order | 25 Shares [ 1 Lot ] |
| Employee Discount | ₹52 |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Capillary Technologies IPO – Date Schedule
| IPO Open Date | 14 November 2025 |
| IPO Close Date | 18 November 2025 |
| Basis of Allotment | 19 November 2025 |
| Initiation of Refund | 20 November 2025 |
| Credit of Shares to Demat Account | 20 November 2025 |
| IPO Listing Date | 21 November 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 18, 2025 |
Capillary Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹14,425 |
| Retail (Max) | 13 | 325 | ₹1,87,525 |
| S-HNI (Min) | 14 | 350 | ₹2,01,950 |
| S-HNI (Max) | 69 | 1725 | ₹9,95,325 |
| B-HNI (Min) | 70 | 1750 | ₹10,09,750 |
Competitive Strength
- Market Leader in Loyalty Solutions.
- Comprehensive Solutions (Loyalty+, Insights+, Engage+, Rewards+) for Diverse Segments.
- Multiple loyalty program and coalitions for retailers and conglomerates.
- Customer and fleet loyalty for energy retail.
- Scalable Cloud-Based Infrastructure with Seamless Integration.
- Diverse Long-Term Customer Relationships with High Net Revenue Retention.
Company Promoters
- Capillary Technologies International Pte Ltd
- Aneesh Reddy Boddu
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹266.25 Cr | ₹324.59 Cr | -₹88.56 Cr | ₹147.47 Cr |
| 31 March 2024 | ₹535.44 Cr | ₹536.93 Cr | –₹68.35 Cr | ₹77.17 Cr |
| 31 March 2025 | ₹611.87 Cr | ₹533.30 Cr | ₹14.15 Cr | ₹100.09 Cr |
| 30 September 2025 | ₹362.56 Cr | ₹322.74 Cr | ₹1.03 Cr | ₹88.94 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 2.76% |
| Debt/Equity | 0.18 |
| RoNW | 2.85% |
| PAT Margin | 2.37% |
| EBITDA Margin | 13.13% |
| Price to Book Value | 8.87 |
| Market Capitalization | ₹4,576.09 Cr. |
| Pre IPO | Post IPO | |
| EPS (₹) | 1.93 | 0.26 |
| P/E (x) | 298.93 | 214.95 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding its cloud infrastructure. | ₹120.00 |
| Investment in research, designing, and development of our products and platform. | ₹151.54 |
| Investment in the purchase of computer systems for its business. | ₹10.32 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes. |
✅Strengths
- Serves 390+ global brands including 19 Fortune 500 companies.
- Complete loyalty + engagement product suite (Loyalty+, Engage+, Insights+ etc.).
- Strong presence across Retail, CPG, Airlines, Hospitality, Fuel Retail, BFSI.
- High client stickiness with long-term contracts and low churn.
- Proven platform scale: 1.2+ billion customer profiles & 500+ loyalty programs.
⚠️Risks
- Competes with large global SaaS players like Salesforce & Adobe.
- Rapid tech change requires continuous product innovation.
- Revenue concentration — loss of major client may impact performance.
- Heavy reliance on acquisitions for growth; integration challenges possible.
- Handles large consumer data — privacy/security compliance risk.
Capillary Technologies IPO Promoter Holding
| Pre Issue Share Holding | 67.94% |
| Post Issue Share Holding | 52.05% |
Capillary Technologies IPO Prospectus
Company Contact Information
| Capillary Technologies India Ltd. #360 bearing PID No 101, 360, 15th Cross Rd, Sector 4, HSR Layout, Bengaluru, Karnataka Bengaluru, Karnataka, 560102 Phone: +91 80 4122 5179 Email: investorrelations@capillarytech.com Website: http://www.capillarytech.com/ |
Capillary Technologies IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: capillarytechnologies.ipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Capillary Technologies IPO Lead Manager(s)
| 1. JM Financial Limited 2. IIFL Capital Services Limited 3. Nomura Financial Advisory and Securities (India) Private Limited |
Capillary Technologies IPO FAQs
| What is Capillary Technologies IPO? Capillary Technologies IPO is a main-board IPO. The issue is priced at ₹549 to ₹577 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Capillary Technologies IPO open? The IPO is to open on 14 November 2025 for QIB, NII, and Retail Investors. |
| What is Capillary Technologies IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Capillary Technologies IPO Size? Capillary Technologies IPO size is ₹877.50 Crore. |
| What is the Capillary Technologies IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 25 Shares with ₹14,425, while the maximum bid is 325 Shares with ₹1,87,525. |
| What is the Capillary Technologies IPO Allotment Date? Capillary Technologies IPO allotment date is 19 November 2025. |
| What is the Capillary Technologies IPO Listing Date? Capillary Technologies IPO listing date is 21 November 2025. The IPO is to be listed on BSE and NSE. |
