Capillary Technologies Lists At 3% Discount Over IPO Price On D-Street

Capillary Technologies India Ltd. debuted on the National Stock Exchange at Rs 571.90 apiece, at a discount of 0.88% from the issue price. It listed on the BSE at Rs 560 per equity share, marking a 2.95% discount.

The public offer included a mix of fresh issues of shares worth Rs 430 crore and an offer-for-sale of 1.83 crore shares by existing shareholders.

Capillary Technologies International Pte. is the promoters of the company offloading shares in the offer for sale. Investors selling shares include Ronal Holdings LLC, Trudy Holdings, Filter Capital India Fund I, Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy B, Sudhakar Reddy Katanguri, Sripathi Damodar Reddy, and Manjunath Nanjaiah.

JM Financial Ltd., and IIFL Capital Ltd. were the book-running lead managers for the issue and Nomura Pvt. was the registrar of the issue.

The proceeds from the fresh issue, amounting to Rs 120 crore, will be utilised for funding its cloud infrastructure cost while Rs 151.54 crore will be used for investment in research, designing, and development of its products and platform.

The company plans to use Rs 10.32 crore for investment in the purchase of computer systems for its business, funding inorganic growth through unidentified acquisitions and general corporate purposes.

Bengaluru-based Capillary Technologies offers artificial intelligence-based cloud-native Software-as-a-Service products and solutions primarily to enterprise customers. Its customers and brands are diversified across verticals and include conglomerates and businesses engaged in retail, consumer packaged goods, healthcare, apparel, departmental stores, luxury and lifestyle, travel, auto and hospitality, and energy retail verticals.

It has also been diversifying the industry verticals that it caters to and has added customers in the energy retail, CPG, healthcare and banking, financial services, and insurance and telecommunications verticals.