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Capillary Technologies India Ltd is an Indian SaaS company that offers complete customer loyalty and engagement solutions. Founded in 2008 and headquartered at Bengaluru, Capillary offers a comprehensive suite of products that help brands understand and engage their customers more effectively through data-driven insights.Key Offerings:Loyalty Management Solutions: Capillary provides scalable, customizable loyalty programs to enterprises across industries like retail, FMCG, and hospitality.Customer Engagement & Marketing Automation: The platform provides personalized marketing with SMS, email, push notifications, etc.AI & Analytics: Their tools use AI and machine learning to provide real-time insights into customers and predictive analytics.Omnichannel CRM: The technology helps brands maintain consistent engagement with customers across online and offline channels.Clients & Global Reach: Capillary serves over 250 brands across more than 30 countries, including big brand names such as Tata, Domino’s, Jockey, PUMA, and Shell. The company primarily operates on a subscription-based SaaS model and derives much of its revenues from software licenses, professional services, and support.
Revenue Growth
Sotefin Bharat
| Companies Name | Open - Close | Issue Size | Min. Qty | Issue Price | Apply |
|---|---|---|---|---|---|
Sotefin Bharat SME | 16th Jul 2026 - 20th Jul 2026 | 89.76 Cr | 600 Shares | ₹ 178.00 | |
Caliber Mining & Logistics Mainboard | 17th Jul 2026 - 21st Jul 2026 | 450.00 Cr | 35 Shares | ₹ 402.00 |

Open Date
14 Nov 2025
Close Date
18 Nov 2025
Min Investment
₹14425
Lot Size
25 Shares
Issue Size
₹877.5 Cr
Price Range
₹549 - ₹577
Listing Date
Nov 21, 2025
IPO Doc
RHP PDFCompany Valuation
Earning Expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.
The company will use ₹143 crore towards funding its cloud infrastructure costs. ₹71.58 crore will be invested in product and platform research, design, and development. The company will use ₹10.34 crore to purchase computer systems for the business. Proceeds will fund general corporate needs and unspecific acquisitions.
Cloud infrastructure costs
41.45%
Investment in development of products and platform
20.75%
Purchase of computer systems
2.99%
General corporate purposes
34.81%
The company will use ₹143 crore towards funding its cloud infrastructure costs.
₹71.58 crore will be invested in product and platform research, design, and development.
The company will use ₹10.34 crore to purchase computer systems for the business.
Proceeds will fund general corporate needs and unspecific acquisitions.
Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).
In Cr.
| Key Performance Indicator | 30-Sep-25 (In Cr.) | 31-Mar-25 (In Cr.) | 31-Mar-24 (In Cr.) | 31-Mar-23 (In Cr.) |
|---|---|---|---|---|
| Revenue | 362.56 | 611.87 | 535.44 | 266.25 |
| EBITDA | 39.82 | 78.57 | -1.49 | -58.34 |
| Expenses | ||||
| Profit After Tax | 1.03 | 14.15 | -68.35 | -88.56 |
| Assets | 892.33 | 838.65 | 871.07 | 466.41 |
| Net Worth | 509.38 | 481.42 | 452.13 | 99.75 |
| Reserves | 149.34 | 170.26 | 30.89 | 31.99 |
| Borrowing | 88.94 | 100.09 | 77.17 | 147.47 |
Capillary Technologies International Pte Ltd
Aneesh Reddy Boddu
67.90%
N/A
Capillary Technologies India
#360 Bearing PID No 101, 360, 15th Cross Rd, Sector 4, HSR Layout, Bengaluru, Karnataka - 560102
MUFG Intime India Pvt.Ltd
The firm’s AI suite, including Creatives Co-Pilot, Promotions Co-Pilot, and aiRA (AI Retail Assistant), enables real-time personalisation, predictive analytics, and campaign automation. These innovations strengthen customer engagement and create measurable ROI for clients. It also hosts events such as ‘Captivate’ to explore how digital innovation is reshaping customer loyalty management.
Through disciplined acquisitions, including Persuade Group, Brierley & Partners (B+P), Tenerity, and Kognitiv Group, the company has expanded into North America and Europe while enhancing its product suite. These integrations have driven cost synergies, higher margins, and regional diversification. Notably, B+P’s contribution margin rose to ₹31.43 crore (42.10%) in H1FY26 from 1.69% a year earlier, reflecting successful operational turnaround and profitability gains.
The company’s growth depends on its ability to attract new customers efficiently. In H1FY26, customer acquisition cost stood at ₹65.48 crore, representing 18.23% of net revenue, compared to 17.61% in H1FY25 and 17.85%, 18.05%, and 25.88% in FY25, FY24, and FY23, respectively. Rising acquisition costs and slower ramp-up in smaller accounts may delay breakeven on new contracts.
The company’s success depends on its ability to develop and upgrade products efficiently. It invested ₹78.85 crore (21.95%) of revenue in R&D during H1FY26, compared to ₹66.54 crore (23.17%) in H1FY25. Delays or failure in innovation could affect competitiveness, as seen with the discontinuation of Anywhere Commerce+ and software delays causing ₹15.43 crore revenue loss in FY25
The company had 737 employees as of September 30, 2025, with an attrition rate of 8.91% and 678 employees with an attrition rate of 19.03% in FY25. Employee expenses amounted to ₹188 crore in H1FY26, representing 52.35% of revenue from operations. Given its heavy reliance on skilled engineers and product specialists, any rise in attrition or inability to attract and retain qualified talent could adversely impact operations, product development, and profitability.