Capillary Technologies India, a software products company, has set the price band for its upcoming initial public offering (IPO) at ₹549 to ₹577 per equity share of face value ₹2 each. The Bengaluru-based Software-as-a-Service (SaaS) company’s public issue will open for subscription on November 14 and close on November 18.

The IPO comprises a fresh issue of shares worth ₹345 crore and an offer for sale (OFS) of 92.29 lakh equity shares, aggregating to ₹877.50 crore at the upper price band.

The company has reserved up to 75% of the net offer for qualified institutional buyers (QIBs), up to 15% for non-institutional investors (NIIs), and remaining 10% for retail individual investors.

The tentative listing date on the BSE and NSE is November 21, 2025, while allotment of shares to applicants are expected to be finalised on November 19, 2025.

The minimum lot size is 25 equity shares, translating to a minimum retail investment of ₹14,425 at the upper price band. For small non-institutional investors (sNII), the minimum application size is 14 lots (350 shares) amounting to ₹2,01,950, while large NIIs (bNII) can apply for 70 lots (1,750 shares) worth ₹10,09,750.

Out of the ₹345 crore raised from the fresh issue, the company intends to use up to ₹143 crore for funding cloud infrastructure costs; up to ₹71.6 crore for investment in research, design, and development of products and platforms. Another ₹10.3 crore will be utilized for purchase of computer systems; and the balance will be used for inorganic growth, unidentified acquisitions, and general corporate purposes.

Founded in 2008 and headquartered in Bengaluru, Capillary Technologies is a software product company specialising in artificial intelligence (AI)-based, cloud-native SaaS solutions that help enterprises build consumer and channel partner loyalty. The company is recognized as one of the global leaders in loyalty and engagement management, according to a Zinnov report (September 2025).

The company’s diversified product suite includes Loyalty+ – an advanced loyalty management platform; Engage+ – a connected engagement platform; Insights+ – a predictive analytics platform; Rewards+ – a rewards management platform; and CDP (Customer Data Platform) – providing a unified, real-time, omni-channel consumer experience.

As of September 30, 2025, Capillary supports over 410 brands across 47 countries, enabling businesses to build deeper customer engagement through end-to-end loyalty programs.

On the financial front, Capillary has demonstrated consistent growth over recent years. For the six months ended September 30, 2025, the company reported revenue from operations of ₹359.2 crore, up from ₹287.1 crore in the same period last year. In FY25, revenue from operations stood at ₹598.3 crore, compared to ₹525.1 crore in FY24 and ₹255.4 crore in FY23.

Profit after tax (PAT) surged 121% year-on-year, reaching ₹14.15 crore in FY25 versus a loss of ₹68.35 crore in FY24. EBITDA improved sharply from a loss of ₹1.49 crore in FY24 to ₹78.57 crore in FY25.

The company’s total assets grew to ₹892.33 crore as of September 30, 2025, compared to ₹838.65 crore at the end of FY25, while net worth rose to ₹509.38 crore from ₹481.42 crore in the previous fiscal.

As of September 30, 2025, Capillary’s reserves and surplus stood at ₹149.34 crore, and total borrowings were ₹88.94 crore.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)