New Delhi: Capillary Technologies, a Bengaluru-based firm offering managed SaaS loyalty solutions, has refiled its draft red herring prospectus (DRHP) with SEBI for a Rs. 430 crore IPO. The company aims to use the funds to invest in R&D, cloud infrastructure costs and other corporate expenses.
The company, which turned profitable this year with a Profit After Tax (PAT) of Rs. 13.1 crore, has been loss-making for the previous three years. It has been cutting costs and shutting down multiple business verticals to mark its turnaround.
Capillary Technologies India Limited has filed its Draft Red Herring Prospectus for an IPO!
🔹 Fresh issue of ₹4,300M
🔹 Offer for sale: 18,331,386 equity sharesA big milestone in our 13+ year journey. Thank you to our teams, investors, customers, and partners!
— Capillary Tech (@capillarytech) June 20, 2025
The company had earlier filed for its IPO in 2021 to raise Rs.850 crore but deferred it due to unfavourable market conditions.
According to its regulatory filings, the IPO will comprise a fresh issue of shares worth Rs. 430 crore and an Offer For Sale (OFS) component of 18.3 million shares. With some existing investors set to offload their shares in the company through the OFS.
Founded in 2008 by Aneesh Boddu, the company offers a specialised solution to manage customer engagement and loyalty, aimed at boosting sales. Through its AI-powered platform, it offers its services to Domino’s, Tata Digital, Dell, IndiGo among other 390+ domestic and international brands.
With the raised funds, the company aims to invest Rs.120 cr in building its cloud infrastructure, Rs.151.5 cr in R&D and another Rs.10.3 crore to invest in digital infrastructure.
The company’s prominent shareholders include Ronal Holdings, Filter Capital India, Harminder Sahni, Adarsh Reddy, Trudy Holdings and Avataar Venture Partners II. The promoters hold a majority 67.47% share in the company.
