Capillary Technologies debuted on November 21, listing at a discount. On the BSE, shares opened at ₹560, which is 2.95% lower than the IPO price of ₹577, while on the NSE, they listed at ₹571.90, reflecting a smaller discount of 0.88%. However, the stock rebounded quickly, rising 13% from its listing price to trade at ₹633 on the BSE, approximately 10% above the IPO price. The ₹877.5 crore IPO attracted significant interest, being oversubscribed 53 times overall, with QIBs subscribing 57 times and retail investors subscribing 16 times. Prior to the listing, the stock had a grey market premium (GMP) of 9–10%, which was not realized upon actual listing.
Capillary Technologies specializes in developing AI-driven, cloud-based SaaS products, concentrating on loyalty programs, customer engagement, and enterprise solutions. The company intends to allocate the IPO funds as follows: ₹143 crore for cloud infrastructure to enhance and expand its systems; ₹71.6 crore for research and product development, including new product designs, technology enhancements, and platform upgrades; ₹10.3 crore for new computer hardware; and the remaining funds for acquisitions, strategic growth, and other corporate purposes.
