Capillary Technologies IPO Gains Momentum on Second Day
The initial public offering of Capillary Technologies India Limited, a leading SaaS solutions provider, entered its second day of bidding on Monday, drawing significant investor attention following a robust response from anchor investors. The company had previously secured ₹394 crore from anchor investors a day before the public subscription opened.
IPO Details and Financial Highlights
The ₹877.5-crore IPO features a price band of ₹549 to ₹577 per share, with the bidding process scheduled to conclude on November 18. At the upper end of the price spectrum, the total issue size reaches the full ₹877.5 crore valuation. The offering comprises two components: a fresh issue worth ₹345 crore and an offer for sale involving 92,28,796 shares.
Capillary Technologies specializes in delivering artificial intelligence-powered, cloud-native SaaS solutions that help global enterprise clients build consumer and channel-partner loyalty programs. The company's financial performance shows ₹359.21 crore in consolidated revenue for the six months ending September 2025, compared to ₹598.25 crore recorded throughout FY25.
Market Performance and Listing Prospects
The grey market premium for Capillary Technologies shares currently stands at ₹23, indicating strong secondary market interest. This GMP suggests that the company's shares are trading ₹23 higher than the upper price band of ₹577. Based on this prevailing premium, analysts project the potential listing price could reach ₹600 per share, representing a 3.99% gain over the issue price.
The company has planned to list its equity shares on both major Indian stock exchanges—the Bombay Stock Exchange and the National Stock Exchange. The IPO is managed by a consortium of investment banks including JM Financial, IIFL Capital Services, and Nomura Financial Advisory and Securities (India), with MUFG Intime India serving as the registrar for the issue.
Market observers note that the strong anchor investment and positive GMP reflect investor confidence in the SaaS company's business model and growth potential in the rapidly expanding customer loyalty technology sector.
