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Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

EntrackrEntrackr · 5m ago
Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool
Medial

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool Loyalty management firm Capillary Technologies is inching closer towards its public listing as the Bengaluru-based firm received board nod to float its Rs 2,250 crore or $265 million Initial Public Offering (IPO). The board at Capillary Technologies has passed a special resolution to raise up to Rs 500 crore ($59 million) via fresh issue of equity of shares and an offer for sale of up to an aggregate amount of Rs 1,750 crore ($205 million), its regulatory filing accessed from the Registrar of Companies show. In a separate move ahead of the IPO, the firm has expanded its employee stock ownership plan (ESOP) pool by 123%, increasing it from 32.6 lakh to 72.91 lakh options, which now account for 9.04% of its total share capital. According to Entrackr’s estimates, the expanded ESOP pool is valued at around Rs 212 crore, out of a total pool size of Rs 384 crore. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies is a SaaS company that helps brands strengthen customer loyalty. Its platform provides insights that enable brands to offer real-time, personalized, and consistent experiences across multiple channels. As per the company, it operates across the US, India, the Middle East, and Asia, supporting over 100 loyalty programs and partnering with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, among others. Capillary Technologies has raised more than $240 million so far, including a $140 million Series D round completed in February last year. From this amount, $20 million is allocated for employee payouts through its stock ownership plan (ESOP). Earlier this month, the company expanded its presence in North America by acquiring Kognitiv, a provider of omnichannel loyalty solutions, as part of its strategic growth plan.

Groww raises Rs 2,984 Cr from anchor investors ahead of IPO

EntrackrEntrackr · 9d ago
Groww raises Rs 2,984 Cr from anchor investors ahead of IPO
Medial

News All Stories Groww raises Rs 2,984 Cr from anchor investors ahead of IPO Investment platform Groww, operated by Billionbrains Garage Ventures Ltd, has raised Rs 2,984.5 crore from anchor investors ahead of its initial public offering (IPO). Investment platform Groww, operated by Billionbrains Garage Ventures Ltd, has raised Rs 2,984.5 crore from anchor investors ahead of its initial public offering (IPO). The company’s IPO committee approved the allocation of 29.85 crore shares at Rs 100 per share, comprising a face value of Rs 2 and a premium of Rs 98, as per the company’s regulatory filing accessed from the stock exchange. According to the company’s filing, Groww attracted participation from a strong line-up of marquee investors, including HDFC Mutual Fund, Kotak Mutual Fund, SBI Mutual Fund, Nippon India, Axis Mutual Fund, and Aditya Birla Sun Life, among others. Global institutions such as the Government of Singapore, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Goldman Sachs, New York State Teachers Retirement System, and Norway’s Government Pension Fund Global also came on board. Out of the total anchor allotment, around 46.6% (Rs 1,389.8 crore) was allocated to 17 domestic mutual funds spread across 54 schemes. The anchor allotment for Groww’s IPO will open for public subscription today and will close on November 7. The company has set a price band of Rs 95–100 per share. Backed by Peak XV Partners, Tiger Global, Ribbit Capital, and ICONIQ Growth, Groww’s public issue will include a fresh issue of shares worth Rs 1,060 crore and an offer for sale (OFS) of Rs 5,572.3 crore at the upper price band of Rs 100 per share, with early major investors participating in the OFS. According to Entrackr’s recent report, existing investors in Groww are set to pocket massive gains through the partial offer for sale. Kauffman Fellows Fund will clock an impressive 196X return, while Nirman Ventures and Y Combinator will reap 126.6X and 29X returns, respectively. Major backers such as Peak XV Partners, Tiger Global, and Ribbit Capital are also expected to book substantial profits from the IPO. The Bengaluru-based firm’s operating revenue surged nearly 50% year-on-year to Rs 3,902 crore in FY25, while its profit soared to Rs 1,824 crore during the same period. However, in Q1 FY26, Groww’s revenue declined nearly 10% YoY to Rs 904.4 crore, with the company posting a profit of Rs 378.36 crore.

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

EntrackrEntrackr · 4m 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.

Capillary Technologies set to raise $90-100 Mn via secondary

EntrackrEntrackr · 1y ago
Capillary Technologies set to raise $90-100 Mn via secondary
Medial

Customer loyalty and engagement technology solutions provider Capillary Technologies is all set to raise $90-100 million in a secondary round, sources aware of the development told Entrackr. “Existing investors are selling their stakes in Capillary and this is an extension to the previous round,” said one of the sources requesting anonymity. In June 2023, Capillary announced the closure of its $45 million series D round from Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital. Capillary offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalised, and consistent experience for customers. It has a presence across the United States, India, the Middle East, Asia, et al. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, the company works with over 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim among others. As per sources, Capillary is likely to close this transaction soon. Queries sent to Capillary did not elicit an immediate response. We’ll update the story in case we hear from them. Earlier, Capillary had claimed that the US accounts for more than a third of its revenue. The firm also acquired three companies in the US – Persuade, Brierley+Partners, and Tenerity’s Digital Connect. While Capillary is yet to disclose its FY23 financial results, it reported Rs 223 crore in revenue from operations during FY22. The firm’s losses also jumped from Rs 22.8 crore to Rs 100 crore during FY22.

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