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Capillary Technologies, a Bengaluru-based SaaS player, has filed to go public, aiming to raise ₹430 crore through a fresh issue and an offer for sale.
This includes an OFS of 18.3 million shares by early backers like Filter Capital, Trudy Holdings, and Capillary’s own promoter, Capillary Technologies International.
JM Financial, IIFL Capital, and Nomura are managing the issue.
The company plans to use the fresh capital to fund cloud infra, R&D, and potential acquisitions.
This marks another tech listing in a surprisingly resilient IPO market, investors have shown renewed interest in SaaS and enterprise tech, especially those with global footprints and sticky business models.
Yes, but: Capillary is not just another software company. It’s a category leader in loyalty management platforms, servicing enterprise clients in 46 countries. In FY25, it turned profitable with ₹481 crore in revenue and ₹13.2 crore in profit, bouncing back from a loss in the previous year.
