Capillary Technologies (India) Ltd., backed by Warburg Pincus and Sequoia Capital, has filed preliminary papers with markets regulator SEBI for raising. 850 crore through initial share-sale.
The company provides Artificial Intelligence (AI)-based cloud-native Software-as-a-Solution (SaaS) products and solutions to develop the loyalty of consumers and channel partners.
An Initial Public Offering (IPO) involves a fresh issue of equity shares, totaling 200 crore and offer for sale 650 crore by Capillary Technologies International Pvt Ltd, as per the draft Red Herring Prospectus (DRHP).
Also, the company may consider pre-IPO placements, which will take the overall 200 million. If such placement is completed, the size of the new issue will be reduced.
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 the issue will be used for loan payments, investments in product development as well as technology and other development initiatives.
Also, the fund will be used for strategic investments and acquisitions and for general corporate purposes.
The Bengaluru-based company served over 250 brands in over 30 countries in India, United Arab Emirates, Saudi Arabia, Singapore, Indonesia, Malaysia, Thailand, the United States and China as of October 31, 2021.
Its customers and brands are diverse in scope and jurisdiction, including businesses engaged in apparel, footwear, supermarkets, conglomerates, manufacturing and electronics, pharmacy and wellness, fine dining and quick service restaurants (QSR), luxury and jewellery, entertainment, travel and hospitality. Huh. ,
The company’s revenue from operations was 114.9 crore for the financial year 2021, while its net profit was 16.94 crore for the same period. For the quarter ended June 2021, the revenue from operations was 33.16 crore and net profit was 2.53 crores.
ICICI Securities, Kotak Mahindra Capital Company and Nomura Financial Advisory & Securities (India) Private Limited are the Book Running Lead Managers of the issue.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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