Capillary Technologies raises Rs 394 Cr from anchor investors

SaaS startup Capillary Technologies has raised Rs 393.7 crore from 21 anchor investors at the upper price band of Rs 577 per share, ahead of its IPO opening for subscription tomorrow (November 14).

According to the company’s filing with the stock exchanges, 68,28,001 equity shares were allotted to anchor investors at Rs 577 each to raise the above mentioned amount. 

Of the total anchor portion, 46.1 lakh shares (67.52%) were allotted to nine domestic mutual funds across 13 schemes, raising Rs 266 crore. Domestic investors include SBI MF, ICICI Prudential MF, Kotak MF, Axis MF, Aditya Birla MF, Edelweiss MF, among others.

Global investors participating in the anchor round included Amundi Funds, Matthews India Fund, HSBC Global Investment Funds – Asia Ex Japan Smaller Companies, PineBridge India Equity Fund, Hornbill Orchid, and Innoven Capital.

The IPO is managed by JM Financial, IIFL Capital and Nomura, while MUFG Intime acts as registrar.

According to its RHP, Capillary Technologies has reduced its fresh issue size to Rs 345 crore from the earlier proposed Rs 430 crore. The offer-for-sale (OFS) component has also been trimmed to 92.2 lakh shares, down from 1.83 crore shares mentioned in the draft prospectus.

Founded in 2008 by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary provides cloud-native loyalty, CRM, and customer engagement solutions to over 390 brands across 46 countries, including Tata Digital, Aditya Birla Fashion, and Abbott Labs.

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.