Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

Capillary Technologies, a Software-as-a-Service (SaaS) company specializing in customer loyalty and engagement solutions, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company plans to raise Rs 430 crore through a fresh issue of shares. The IPO will also include an Offer for Sale (OFS) component, where existing investors and promoters will sell a portion of their stake. The funds raised from the fresh issue will be used for various purposes, including investment in product development, strategic acquisitions, and expansion into new markets. The filing of the DRHP is the first formal step in the IPO process. Capillary's public issue is a significant event for the Indian SaaS industry, reflecting the growing maturity and global competitiveness of the sector.