Capillary Technologies IPO Subscription Status: Issue Fully Booked On Final Day, GMP Hints At Positive Listing

The initial public offering (IPO) of the Bengaluru-based software-as-a-service (SaaS) company Capillary Technologies received full subscription on the final day of bidding, November 18. The public issue, which seeks to raise Rs 877.50 crore, had opened for bidding on November 14.

Meanwhile, the grey market premium (GMP) of the company's shares has witnessed an uptick over the past few days, indicating a potential positive listing gain.

The SaaS company helps consumer brands track, analyse, and engage their customers using data-led tools. Founded in 2008, it runs a subscription-driven business and earns revenue from software licences, support services, and implementation work.

Capillary Technologies IPO Subscription Status: Day 3 

So far, as of 3:00 PM, Capillary Technologies IPO was booked an overall 27.48 times the shares on offer.

The qualified institutional buyers (QIBs) booked the issue 23.93 times their quota, non-institutional investors (NIIs) subscribed 48.06 times the shares reserved for them, and the retail investors quota received 7.82 times subscription. The employees quota also was booked 4.47 times around the same time.

Capillary Technologies IPO Details

Capillary Technologies IPO Size: The IPO is a book-built issue of Rs 877.50 crore, including a fresh component of Rs 345 crore and an offer-for-sale component of Rs 532.50 crore.

Capillary Technologies IPO Price Band: The company has fixed the price band at Rs 549-577 per share.

Capillary Technologies IPO Allotment, Listing Date: The basis of share allotment is expected to be finalised on November 19, and the shares are scheduled to be listed on NSE and BSE tentatively on November 21.

Capillary Technologies IPO Objectives: The company plans to use the Rs 345 crore net proceeds for various purposes. Of this, Rs 120 crore will be allocated for funding cloud infrastructure cost, Rs 151.54 crore for research, designing, and development of products and platform, and Rs 10.32 crore for purchasing computer systems. The rest amount, the company said in its red herring prospectus (RHP), will be used for inorganic growth through acquisitions, and for general corporate purposes.

Capillary Technologies IPO BRLMs, Registrar: JM Financial, IIFL Capital Services, Nomura Financial Advisory and Securities are the book running lead managers, and MUFG Intime India is the registrar to the issue.

Capillary Technologies IPO GMP Today

According to multiple websites that track grey market premium (GMP) of unlisted shares of IPO-bound companies, Capillary Technologies IPO GMP stood at Rs 35 over the issue price.

The GMP has recovered over 52 per cent from a low of Rs 23, quoted on November 16.

Given the current GMP and the upper end of the issue price, Rs 577, the listing price of Capillary Technologies shares is expected to be around Rs 612 per share. This translates to a potential listing gain of 6.07 per cent.

Capillary Technologies Financials

Capillary Technologies reported a total income of 362.56 crore for the quarter ended September 30, 2025 (Q2FY26). Its profit after tax (PAT) stood at Rs 1.03 crore, and Ebitda came in at Rs 39.82 crore.

For the full year FY25, the company reported its total income at Rs 611.87 crore, up from Rs 535.44 crore in FY24 and Rs 266.25 crore in FY23. Its PAT stood at Rs 14.15 crore in FY25, reversing from losses of Rs 68.35 crore in FY24 and Rs 88.56 crore in FY23.

Ebitda, too, turned black, coming in at Rs 78.57 crore in FY25. In FY24 and FY23, the company reported a negative Ebitda of Rs 1.49 crore and Rs 58.34 crore, respectively.

Capillary technologies' net worth, as of September 30, 2025, stood at Rs 509.38 crore. It had reserves and surplus of Rs 149.34 crore and net debt at Rs 88.94 crore.