Capillary Technologies entered the second day of its IPO today (November 17), and the market mood around the offer seems to be shifting. While subscription numbers are still growing, the grey market premium (GMP) which is often used as an early indicator of listing sentiment has shown noticeable movement compared to last week’s trend.
With the IPO open till Tuesday (November 18), let’s take a look at the key trends of this ongoing IPO –
Capillary Technologies IPO: GMP trend – A spike then cools off
The grey market premium for Capillary Technologies has moved sharply over the past few days. After staying flat for several sessions ahead of the IPO, the premium surged to Rs 50 on Friday (November 14) before the offer opened.
By Monday morning, however, the GMP had eased to Rs 28. This suggested a decline of more than 42% from its recent peak. At this level, the stock’s estimated grey market price stands near Rs 605, indicating a potential listing gain of roughly 5%, based on the current premium.
However, it is important to note that GMP is not the actual listing price and may fluctuate based on the market condition.
Capillary Technologies IPO: Subscription on Day 2 so far
Capillary Technologies saw its IPO subscribed 0.4 times so far by early afternoon on Day 2.
The IPO window closes on November 18.
Capillary Technologies IPO: Brokerage view
“Capillary leverages AI and machine learning to provide personalized marketing and predictive insights through products like Engage+ and its Co-Pilot tools, enabling hyper-personalized campaigns and faster implementation for clients. Backed by scalable cloud-based infrastructure, the company is well-positioned to capture the growing digital transformation and customer retention trend among enterprises globally. We recommend SUBSCRIBE for the long term,” said IDBI Capital in its IPO note.
Capillary Technologies IPO: Issue size, price band and lot details
The IPO is sized at Rs 877.5 crore, divided between a fresh issue of 60 lakh shares worth Rs 345 crore and an offer for sale of 92 lakh shares worth Rs 532.5 crore. The price band is fixed at Rs 549–577 per share.
For retail applicants, the entry point begins with a lot of 25 shares, translating to a minimum investment of Rs 14,425. Small non-institutional investors must apply for 14 lots, while large non-institutional investors need to bid for at least 70 lots.
Capillary Technologies IPO: Key dates investors should note
Share allotment will be finalised on November 19, and successful bidders will receive shares in their demat accounts on November 20. Refunds for unallotted applications will also be processed the same day.
The listing is likely to take place on November 21 on both the BSE and NSE.
Capillary Technologies IPO: Anchor investors
A day before the issue opened, Capillary Technologies raised Rs 394 crore from anchor investors, including HSBC Global Investment Funds, SBI Technology Opportunity Fund, Kotak Pioneer Fund, and Amundi Funds New Silk Road, among others.
Capillary Technologies IPO: About the company
The company is headquartered in Bengaluru. It operates as an enterprise Software-as-a-Service (SaaS) provider.
The company’s key offerings revolve around customer loyalty, engagement, and marketing automation, supported by artificial intelligence and machine learning.