Capillary Technologies India Ltd. IPO
Capillary Technologies India Limited is a global SaaS (Software-as-a-Service) and AI-powered customer engagement company that provides cloud-native loyalty and engagement solutions for enterprise clients. The company helps businesses build consumer and channel partner loyalty through intelligent, data-driven, and personalized engagement platforms. Headquartered in India with offices across the U.S., U.K., UAE, and Asia, Capillary serves over 410 brands in 47 countries, empowering global enterprises to enhance customer relationships through technology-led loyalty strategies.
As per the Zinnov Report (September 2025), Capillary is recognized as one of the global leaders in loyalty and engagement management, offering a comprehensive suite of end-to-end loyalty solutions.
Core Business and Operating Model
Capillary operates as a B2B enterprise software company, offering AI-based loyalty management platforms that help brands:
1) Acquire, engage, and retain customers
2) Run customized loyalty programs
3) Deliver omni-channel and real-time personalized experiences
Under its model:
1) Enterprise Customers are organizations that license Capillary’s platforms (e.g., Loyalty+, Engage+, Insights+, Rewards+, and CDP).
2) End Consumers are users who engage with loyalty programs, rewards, and offers designed by these enterprise clients.
Capillary’s products enable brands to analyze customer behavior, reward loyalty, and drive repeat sales through integrated digital platforms that connect CRM, e-commerce, POS, and marketing systems.
Industry Verticals
Capillary’s client base spans Retail & Apparel, Consumer Packaged Goods (CPG), Luxury & Lifestyle, Healthcare, Travel & Hospitality, Automotive, Energy Retail, Banking, Financial Services & Insurance (BFSI) and Telecommunications.
Some marquee customers includes Aditya Birla Fashion and Retail Limited (ABFRL), Abbott Laboratories (Singapore), Tata Digital Private Limited, Frontier Communications (USA), A global energy and petrochemicals major and A leading European bank. This diversified client base highlights Capillary’s domain expertise across multiple industries and geographies.
Global Presence
Capillary operates 16 offices worldwide, with a strong presence in key markets including India, United States, United Kingdom, Canada, United Arab Emirates, Singapore, Indonesia, Vietnam and Malaysia
The company’s global footprint enables it to cater to the diverse needs of clients in both emerging and mature loyalty markets — particularly in Asia and North America, which represent the largest opportunities for digital engagement and retention solutions.
Objects of the Capillary Technologies India Ltd. IPO:
Capillary Technologies India Ltd. IPO Details:
| Open Date: | Nov 14 2025 |
| Close Date: | Nov 18 2025 |
| Face Value: | ₹ 2 Per Equity Share |
| Listing At: | NSE,BSE |
| Listing Date: | Nov 21 2025 |
Promoters And Management:
Financials of Capillary Technologies India Ltd. IPO:
| Particulars | 6M FY2025-26 | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations (Cr) | 359.20 | 598.20 | 525.10 | 255.00 |
| EBITDA (Cr) | 39.80 | 78.50 | -1.40 | -58.30 |
| EBITDA Margins | 11.09% | 13.13% | -0.31% | -28.17% |
| PAT (Cr) | 1 | 14.1 | -68.3 | -88.5 |
| PAT Margins | 0.29% | 2.37% | -13.02% | -34.68% |
| ROCE | 0.50% | 2.76% | -9.34% | -28.45% |
| Debt to Equity Ratio(In Times) | 0.15 | 0.18 | 0.14 | 0.79 |
| Operating Cash Flows (Cr) | 55.4 | -46.1 | 97.1 | -20 |
Comparison With Peers:
According to RHP their is no listed Peers Existed in India under Same Business Segment.
Lead Manager of Capillary Technologies India Ltd. IPO:
Registrar of Capillary Technologies India Ltd. IPO:
Discussion on Capillary Technologies India Ltd. IPO:
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