Bengaluru based Capillary Technologies files for INR 850 Crore DRHP
- ByTejika Bajaj | December 28, 2021
Bengaluru based SaaS provider Capillary Technologies has filed its preliminary papers with the market regulatory authority SEBI in an attempt to launch its public issue. The company plans to raise INR 850 crore through its IPO and is planning to file its DRHP (draft red herring prospectus) for the same in the coming days.
The company intends to raise Rs 850 crore through its IPO that comprises a fresh issue of Rs 200 crore and an offer-for-sale of Rs 650 crore by promoter Capillary Technologies International Pte Ltd (CTIPL). CTIPL holds 98.06 percent shareholding in the company.
Capillary may consider raising Rs 40 crore through private placement, prior to the filing of the draft red herring prospectus with the Registrar of Companies. If the pre-IPO placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement, according to the filing with the Securities and Exchange Board of India.
As per the company reports, the fresh issue proceeds will be utilised for repaying of debts, product development, technology upgrade and other growth initiatives, besides strategic investments and acquisitions, and general corporate purposes.
ICICI Securities, Kotak Mahindra Capital Company, and Nomura Financial Advisory and Securities (India) are appointed as the book running lead managers to the issue.
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