Capillary Technologies’ IPO subscribed nearly 53 times

SaaS startup Capillary Technologies’ initial public offering (IPO) received strong demand from investors as the overall issue was subscribed nearly 53X, steered by strong demand from Non-Institutional Investors (NIIs).

According to exchange data, the Non-Institutional Investors (NIIs) subscribed 69.8 times, followed by Qualified Institutional Buyers (QIBs), which subscribed 57.3X. The retail quota saw 15.7X subscription, while the employee portion oversubscribed with 6.86X.

The initial public offering was open for subscription from November 14 to 18 with a price band of Rs 549–577 per share and a minimum investment of Rs 13,725. The share allotment is expected on November 19, and the company is set to list on the BSE and NSE on November 21.

According to its RHP, Capillary Technologies has cut its fresh issue size to Rs 345 crore, down from the earlier proposed Rs 430 crore. During the revised RHP, the offer-for-sale component has also been reduced to 92.2 lakh shares, compared to 1.83 crore shares in the draft prospectus.

Last week, Capillary Technologies raised Rs 393.7 crore from anchor investors including SBI MF, ICICI Prudential MF, Kotak MF, Amundi Funds, Matthews India Fund, among others.

Financially, Capillary Technologies delivered a strong performance in FY25, with revenue growing 14% year-on-year to Rs 598 crore. The company also turned profitable, posting a net profit of Rs 14.1 crore compared to a loss of Rs 68 crore in FY24.