Capillary Technologies files IPO papers; aims to raise Rs 430 crore via fresh issue
ETtech Aneesh Reddy founder and MD Capillary Technologies
Customer engagement and loyalty tech provider Capillary Technologies India Ltd has filed its draft red herring prospectus (DRHP) with Sebi for a public listing. The IPO will comprise a fresh issue of equity shares aggregating up to Rs 430 crore and an offer-for-sale (OFS) of up to 18.3 million shares by existing shareholders.
This is Capillary Technologies' second attempt at going public after it shelved its initial plans in 2021.
The company's Singapore-based promoter entity Capillary Technologies Pte, in which investors such as Peak XV Partners and Avataar Venture Partners, hold a stake, is selling 14.2 million shares in the OFS component.
JM Financial, IIFL Capital, and Nomura are acting as the book-running lead managers to the issue. The company intends to use proceeds from the fresh issue to fund its cloud infrastructure cost, while also investing in research, design and development of its products and platform.
ET had first reported in November that Capillary Technologies was reviving its IPO plans and was aiming to file this year.
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