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

EntrackrEntrackr ยท 3m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO

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WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO
Medial

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO Workspace provider IndiQube has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 750 crore (approximately $89 million) and an offer for sale (OFS) of equity shares amounting to Rs 100 crore. Co-founders Rishi Das and Meghna Agarwal will each sell shares worth Rs 50 crore through the OFS. Notably, no external shareholders are participating in the OFS, highlighting the founders' significant role in the offering. According to the DRHP, Anshuman Das is IndiQube's largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. IndiQube plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by ICICI Securities Limited and JM Financial, who are acting as the book-running lead managers. According to the company, the net proceeds from the fresh issue will be utilized for the establishment of new centers, repayment of borrowings, and other general corporate purposes. In the first quarter of the ongoing fiscal year, IndiQube reported revenue of Rs 242 crore, while its losses stood at Rs 42 crore. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue, reaching Rs 830 crore in FY24, up from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23.

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