Capillary Technologies raises Rs 393.7 crore from anchor investors

Capillary Technologies has secured Rs 393.7 crore from 21 anchor investors. The allocation was made at the upper end of the price band, with shares priced at Rs 577 apiece.

In a regulatory filing, the Bengaluru-based SaaS company said it allotted 68,28,001 equity shares to anchor investors at this price.

A significant share of the anchor book was taken up by domestic mutual funds. About 46.1 lakh shares, or nearly 68% of the anchor portion, were subscribed by nine mutual funds across 13 schemes.

These included SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Aditya Birla Mutual Fund and Edelweiss Mutual Fund. Several global investors also participated, such as 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 being managed by JM Financial, IIFL Capital and Nomura, with MUFG Intime serving as the registrar.

According to the company’s red herring prospectus, Capillary has revised its earlier fundraising plan, reducing the fresh issue size to Rs 345 crore from the initially proposed Rs 430 crore. The offer-for-sale component has also been cut sharply to 92.2 lakh shares from 1.83 crore shares mentioned in the draft filing.

Founded in 2008 by Aneesh Reddy, Krishna Mehra and Ajay Modani, Capillary Technologies offers cloud-based loyalty, CRM and customer engagement solutions. The company works with more than 390 brands across 46 countries, including Tata Digital, Aditya Birla Fashion and Abbott Labs.

In the financial year 2025, Capillary reported revenue of Rs 598 crore, marking a 14 percent increase year-on-year. The company also recorded a net profit of Rs 14.1 crore, turning profitable after reporting a loss of Rs 68 crore in the previous year.