According to the Red Herring Prospectus (DRHP), fresh shares worth Rs 200 crore will be issued under the IPO of Capillary Technologies.
Capillary Technologies IPO: The IPO of Capillary Technologies (India) Limited, backed by Warburg Pincus and Sequoia Capital, is on the way. The company has filed a draft paper with the market regulator SEBI for this. The company wants to raise Rs 850 crore through this IPO. This company provides Artificial Intelligence (AI) based software solutions.
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200 crore fresh shares will be issued
According to the Red Herring Prospectus (DRHP), fresh shares worth Rs 200 crore will be issued under this IPO. At the same time, shares worth Rs 650 crore will be sold by Capillary Technologies International Private Limited under Offer for Sale (OFS). In addition, the company may consider pre-IPO placements up to Rs 20 crore. If such placement is completed, the size of the new issue will be reduced.
Fund will be used here
In addition to Warburg Pincus and Sequoia Capital, Capillary Technologies is backed by Avatar Capital, Qualcomm Asia Pacific and Filter Capital. Private equity firms will remain invested in the company and are not reducing their stake in this IPO. The proceeds from this issue will be used to pay off debt, invest in product development as well as technology and other growth initiatives. In addition, the fund will be used for strategic investments and acquisitions and for general corporate purposes.
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Know about the company
- The Bengaluru-based company has served over 250 brands in over 30 countries including India, UAE, Saudi Arabia, Singapore, Indonesia, Malaysia, Thailand, USA and China as of October 31, 2021.
- The company’s customers span across apparel, footwear, supermarkets, manufacturing and electronics, pharmacy and wellness, fine dining and quick service restaurants (QSR), luxury and jewellery, entertainment, travel and hospitality.
- The company’s revenue from operations in FY21 was Rs 114.9 crore, while its net profit for the same period was Rs 16.94 crore. For the quarter ended June 2021, revenue from operations was Rs 33.16 crore and net profit was Rs 2.53 crore.
- ICICI Securities, Kotak Mahindra Capital Company and Nomura Financial Advisory & Securities (India) Private Limited are the Book Running Lead Managers of the issue.
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