A new listing today, Capillary Technologies; as against the IPO price of Rs.577, it got listed on the BSE a discount, at Rs.560 but soon jumped up and is now trading at 618 levels, after rising to Rs.623.

The response to the IPO  was very good with overall subscription at 52.59x, with HNIs at 69.84x, QIBs at 57.27x and Retail at 15.82x.

Capillary Technologies is a 14-year old provider of software as a service (SaaS) to B2B customers, for their end-customer and channel partner loyalty and engagement management. Serving 110 customers, it garners ~56% of Rs. 500 cr revenue from North America and 25% from Asia Pacific.  

In our IPO Analysis, we had concluded - Capillary Technologies IPO is an avoid, as it has nothing exciting to offer to the prospective investors.