Capillary Technologies, a SaaS company in Bengaluru, specialising in customer engagement and loyalty solutions, made its stock market debut on Thursday. The shares opened at ₹560 on the BSE, about 3% lower than the IPO price of ₹577. On the NSE, the stock listed at ₹571.90, slightly below the issue price.
The IPO, which raised around ₹878 crore, was highly oversubscribed, attracting about 53 times more applications than shares on offer. The issue included a fresh share sale of ₹345 crore and an offer-for-sale worth ₹533 crore.
Although the listing started below the IPO price, the stock gained momentum in later trade, reflecting growing investor confidence. Market observers noted that the subdued listing could be due to cautious investor sentiment, despite strong demand during the IPO.
Capillary Technologies plans to use the IPO proceeds to fund growth initiatives, including technology development and expanding its SaaS offerings.
Also Read: Groww Q2 profit up 12% despite revenue dip