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CAPILLARY IPO

Capillary Technologies India Limited

IPO Doc

Start Date14-11-2025

Application Timing10am-5pm

Price Range₹549 - ₹577

Min Qty25

Min. Investment₹13725

Listing Date21-11-2025

Close Date18-11-2025

About Capillary Technologies India Limited

Capillary Technologies India Ltd is a Bengaluru-based software-as-a-service (SaaS) company, founded in 2008. The company is a market leader in loyalty management and customer engagement solutions, offering a comprehensive suite of products that enable brands to understand, target, and retain their customers effectively. With strong expertise in AI, analytics, and omnichannel CRM, Capillary helps businesses create personalized, data-driven marketing strategies.

The company works with over 250 global brands across 30+ countries, including well-known names such as Tata, Domino’s, PUMA, Jockey, and Shell. Capillary operates primarily on a subscription-based SaaS model and generates revenue through software licenses, professional services, and customer support.

Why To Invest in Capillary Technologies India Limited

Strong Leadership in Loyalty & Engagement Solutions : Capillary is one of India’s leading SaaS providers in the loyalty management space, offering advanced solutions such as Loyalty+, Engage+, Insights+, and Rewards+.
Expanding Global Footprint : With customers in more than 30 countries and long-term client relationships, the company enjoys high net revenue retention and consistent demand.
Robust SaaS Business Model : A subscription-driven model ensures predictable recurring revenue and high scalability.
Improving Financial Performance : Revenue grew by 14% and PAT surged by 121% between FY24 and FY25. EBITDA also turned positive, showcasing operational efficiency.
Investment in Next-Gen Technologies : IPO proceeds will be used for cloud infrastructure, R&D, product development, and potential acquisitions, supporting long-term growth.

Financial Table

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	892.33	838.65	871.07	466.41
Total Income	362.56	611.87	535.44	266.25
Profit After Tax	1.03	14.15	-68.35	-88.56
EBITDA	39.82	78.57	-1.49	-58.34
NET Worth	509.38	481.42	452.13	99.75
Reserves and Surplus	149.34	170.26	30.89	31.99
Total Borrowing	88.94	100.09	77.17	147.47

Strengths And Risks

Leadership in Customer Loyalty Solutions: Capillary Technologies holds a strong leadership position in India’s loyalty and customer engagement ecosystem. Its advanced platforms help enterprises build scalable, personalized, and data-driven loyalty programs.

Comprehensive Product Portfolio: The company offers an integrated suite of products, including AI-powered analytics, omnichannel engagement tools, and robust loyalty management solutions that address diverse industry needs.

Scalable Cloud-Based Infrastructure: Capillary’s cloud-native architecture ensures high performance, seamless integration, and flexibility, enabling brands to deploy solutions quickly and efficiently.

Strong and Diverse Client Base: With over 250 global clients and long-term partnerships across retail, FMCG, energy, and hospitality, the company enjoys high customer retention and recurring revenues.

Improving Financial Performance: The company has shown strong improvements in revenue, profitability, and EBITDA margins, reflecting enhanced operational efficiency and business stability.

High Valuation Levels: The company’s P/E ratio remains significantly higher than industry peers, which may pose valuation concerns for investors post-listing.

Dependence on Enterprise Renewals: A large portion of revenue depends on subscription renewals and enterprise IT budgets. Any slowdown in client spending could impact growth.

Strong Global Competition: Capillary faces competition from global SaaS, CRM, and analytics providers, which may affect market share and pricing power.

Exposure to Foreign Currency Fluctuations: With business across multiple countries, the company is vulnerable to forex volatility, which can influence profitability.

Rapid Technological Changes: The SaaS industry evolves quickly, requiring continuous investment in R&D and innovation. Falling behind in technology could dilute Capillary’s competitive edge.

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Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

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CAPILLARY IPO

About Capillary Technologies India Limited

Why To Invest in Capillary Technologies India Limited