AI-Powered SaaS Leader Targets Global Expansion Through Public Issue
Bilkul Bazaar
Ahmedabad | 13 Nov 2025
Capillary Technologies India Limited, a global leader in AI-based SaaS loyalty and engagement solutions, has announced that its Initial Public Offering (IPO) will open for subscription on Friday, November 14, 2025, and close on Tuesday, November 18, 2025. The company has fixed the price band at ₹549 to ₹577 per equity share of face value ₹2 each.
“Our journey from Bengaluru to over 47 countries reflects how Indian SaaS innovation can scale globally,” said Aneesh Reddy Boddu, Managing Director & CEO, Capillary Technologies India Ltd. “This IPO marks the next phase of our growth as we continue investing in AI-driven loyalty and engagement platforms.”
IPO Snapshot
Particulars Details
Issue Opens November 14, 2025
Issue Closes November 18, 2025
Price Band ₹549 – ₹577 per equity share
Face Value ₹2 per share
Lot Size 25 shares and in multiples thereof
Fresh Issue ₹3,450 million
Offer for Sale 92,28,796 equity shares
Book Running Lead Managers JM Financial, IIFL Capital Services, Nomura Financial Advisory
Registrar MUFG Intime India Pvt Ltd
Proposed Listing BSE, NSE
The net proceeds from the fresh issue will be primarily used to fund cloud infrastructure costs, research and product development, purchase of computer systems, and strategic acquisitions.
“Our focus remains on innovation and scalability. Investments from this issue will strengthen Capillary’s product suite and accelerate AI integration across industries,” said Anant Choubey, CFO & COO, Capillary Technologies.
The company plans to allocate ₹1,430 million toward cloud infrastructure, ₹715.81 million toward research and development, and ₹103.42 million for computer systems, with the balance reserved for acquisitions and general corporate purposes.
Founded in 2008 in Bengaluru and now headquartered in Singapore, Capillary Technologies has evolved into a global SaaS powerhouse powering over 500 loyalty programs across 30+ countries and 10 industry verticals, serving more than 1.82 billion consumers and supporting 120,000+ stores.
“With AI at the core of our offerings, we are redefining how brands engage with customers across multiple touchpoints,” noted Jubin Mehta, Head of Marketing. “Capillary’s end-to-end loyalty ecosystem helps brands move from transaction-driven to relationship-driven growth.”
Its flagship platforms — Loyalty+, Engage+, Insights+, Rewards+, and Customer Data Platform (CDP) — empower enterprises to deliver real-time, omni-channel, personalized experiences.
Over the years, Capillary has built partnerships with global brands such as Pizza Hut, PUMA, Bata, VF Brands, Tata Group, Shell, HP, Abbott, and Domino’s, and received four international awards at the 2025 International Loyalty Awards.
The company’s consolidated revenue from operations for the six months ended September 30, 2025, stood at ₹3,592.18 million, compared to ₹2,871.77 million during the same period last year — marking a strong year-on-year growth.
“Capillary’s IPO underscores investor confidence in India’s SaaS and AI ecosystem,” said Sunil Jain, Head – Corporate Development. “We believe this listing will help us strengthen our global footprint, particularly in the US and Middle East markets.”
The offer is being made through the book-building process, with up to 75% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Individual Investors (RIIs), in accordance with SEBI regulations.
Disclaimer: This news is for informational purposes only. Please refer to official offer documents and consult a financial advisor before investing.
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