Latest news with #CapillaryTechnologies
Time of India
21-06-2025
- Business
- Time of India
Capillary to raise Rs 430cr via fresh issue
Capillary Technologies (Image credits: LinkedIn) BENGALURU: Capillary has refiled papers with Sebi to raise Rs 430 crore through fresh issue of shares. The offer also includes an offer-for-sale of up to 1.8 crore equity shares by existing investors and promoter entities. The company's public debut comes after it withdrew earlier IPO plans in 2021, citing market conditions. Capillary provides AI-powered loyalty and customer engagement solutions to global brands. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21-06-2025
- Business
- Time of India
Capillary Technologies' DRHP highlights rising competition, AI impact on business
Customer engagement and loyalty tech provider Capillary Technologies ' draft red herring prospectus (DRHP) highlights increasing competition to acquire and retain enterprise customers amid increasing impact of artificial intelligence (AI), challenging macroeconomic conditions and changing market dynamics. The Bengaluru-headquartered company filed its DRHP with the Securities and Exchanges Board of India on June 18, after it shelved its initial plans in 2021. It is looking to raise Rs 430 crore through its initial public offering this year. The company reported revenue of Rs 598 crore for 2024-25, up 13.9% from Rs 525 crore in the previous financial year, according to data from the DRHP. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Discover the best air conditioner unit prices in the Philippines 2024 Air Condition | Search Ads Search Now Undo Enterprise customer retention Capillary Technologies lost three customers in 2022-23 and one each in 2023-24 and 2024-25. In the case of large enterprise customers, it is facing competition from firms that offer similar services targeting enterprise customers as they cut costs, restructure and develop products in-house. Live Events 'While the afore-mentioned instances did not materially impact our financial condition, we cannot assure you that our business, financial condition and results of operations will not be adversely affected in the future due to such instances,' the DRHP said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The AI impact In the DRHP, the company said that AI – which has been mentioned 81 times, compared to 18 times in the draft red herring prospectus filed in 2021 – is complex and rapidly evolving, and that it faces significant competition in the market and from other companies regarding such technologies. 'The adoption of Gen AI by various industries could lead to changes in our customers' operations. By adopting Gen AI, our customers may develop in-house capabilities which could impact the extent to which customers rely on us and reduce their need for our services,' it said. In addition, the company said it is incorporating AI in its solutions and business operations. 'Our research and development of such technology remains ongoing. AI presents risks, challenges, and unintended consequences that could affect our and our customers' adoption and use of this technology,' it said. R&D, acquisitions To maintain its competitive edge, the company has been investing significantly in AI. It invested 21.50% of its revenue in 2024-25, lower than 28.04% in the previous fiscal in research, design and development. According to the DRHP, the company will invest Rs 151 crore in research and development. It will also focus on inorganic growth through acquisitions to enter new business areas as a strategic initiative, the company said, albeit without disclosing the expenditure earmarked for this.
Economic Times
21-06-2025
- Business
- Economic Times
Capillary Technologies' DRHP highlights rising competition, AI impact on business
Customer engagement and loyalty tech provider Capillary Technologies' draft red herring prospectus (DRHP) highlights increasing competition to acquire and retain enterprise customers amid increasing impact of artificial intelligence (AI), challenging macroeconomic conditions and changing market dynamics. The Bengaluru-headquartered company filed its DRHP with the Securities and Exchanges Board of India on June 18, after it shelved its initial plans in 2021. It is looking to raise Rs 430 crore through its initial public offering this year. The company reported revenue of Rs 598 crore for 2024-25, up 13.9% from Rs 525 crore in the previous financial year, according to data from the DRHP. Enterprise customer retention Capillary Technologies lost three customers in 2022-23 and one each in 2023-24 and 2024-25. In the case of large enterprise customers, it is facing competition from firms that offer similar services targeting enterprise customers as they cut costs, restructure and develop products in-house. 'While the afore-mentioned instances did not materially impact our financial condition, we cannot assure you that our business, financial condition and results of operations will not be adversely affected in the future due to such instances,' the DRHP said. The AI impactIn the DRHP, the company said that AI – which has been mentioned 81 times, compared to 18 times in the draft red herring prospectus filed in 2021 – is complex and rapidly evolving, and that it faces significant competition in the market and from other companies regarding such technologies.'The adoption of Gen AI by various industries could lead to changes in our customers' operations. By adopting Gen AI, our customers may develop in-house capabilities which could impact the extent to which customers rely on us and reduce their need for our services,' it addition, the company said it is incorporating AI in its solutions and business operations. 'Our research and development of such technology remains ongoing. AI presents risks, challenges, and unintended consequences that could affect our and our customers' adoption and use of this technology,' it said. R&D, acquisitions To maintain its competitive edge, the company has been investing significantly in AI. It invested 21.50% of its revenue in 2024-25, lower than 28.04% in the previous fiscal in research, design and development. According to the DRHP, the company will invest Rs 151 crore in research and development. It will also focus on inorganic growth through acquisitions to enter new business areas as a strategic initiative, the company said, albeit without disclosing the expenditure earmarked for this.
Entrepreneur
20-06-2025
- Business
- Entrepreneur
Capillary Technologies Files for IPO with SEBI, Plans to Raise USD 50 Mn
The filing was submitted on Thursday, marking a major step in the company's renewed effort to go public after postponing plans in 2021 due to poor market conditions. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based SaaS firm Capillary Technologies has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The filing was submitted on Thursday, marking a major step in the company's renewed effort to go public after postponing plans in 2021 due to poor market conditions. The IPO will include a fresh issue of shares worth USD 50 million (approximately INR 430 crore) and an offer for sale (OFS) of 1.83 crore equity shares. The company's promoter, Capillary Technologies International Pte Ltd, will sell around 1.43 crore shares, which is nearly 77.6% of the OFS. Other participants in the OFS include institutional investors Ronal Holdings, Trudy Holdings, and Filter Capital, along with individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd holds a 65.47% stake in the company. Other major shareholders include Ronal Holdings with 7.53%, AVP Fund (Avataar Ventures) with 5.51%, Trudy Holdings at 4.49%, and Filter Capital India at 3.66%. The company plans to use the IPO proceeds to enhance its cloud infrastructure and invest in product research and development. About INR 120 crore will go towards cloud infrastructure, INR 151.5 crore towards R&D, and INR 10.3 crore for purchasing computer systems. A part of the funds will also be used for potential acquisitions and general corporate purposes. JM Financial, IIFL Capital, and Nomura Financial Advisory have been appointed as the book-running lead managers for the issue. Capillary Technologies recently reported a 14% increase in operational revenue, reaching INR 598 crore in FY24. It also turned profitable in FY25, posting a net profit of INR 13.3 crore, compared to a INR 59.4 crore loss the previous year.
Economic Times
20-06-2025
- Business
- Economic Times
Qcomm's worker woes; Capillary's IPO moves
Happy Friday! Quick commerce platforms are facing challenges in hiring and retaining delivery partners. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Foxconn expands in India ■ Krutrim exits, layoffs■ Groww expands offerings Quick commerce players running out of delivery riders as demand shoots up India's booming quick commerce sector is facing a key operational hurdle: hiring and retaining delivery partners. As demand for rapid deliveries surges, incumbents are scaling up and new players are joining the race. But recruitment has struggled to keep pace with growth. Tell me more: Recruitment platform Vahan, which works with leading gig economy firms, confirms the pressure. Hiring is getting harder as 'manpower availability is not rising in proportion to demand.' Dark store managers echoed the concern. Several said they need more riders, with daily orders nearing 1,500. Quote, unquote: 'Bikers are getting more demanding for all of us. It's becoming tough to hire and retain. These aren't good signs. It's reasonably acute, though not unmanageable yet,' said an executive at a quick commerce firm. Ground reality ET spoke to delivery partners in Bengaluru and New Delhi, most of whom said that falling per-order payouts are making the job unsustainable. A Flipkart Minutes rider said promised referral bonuses aren't being honoured, pushing many to switch platforms for better pay. Harsh weather conditions are adding to the strain on operations. Also Read: Quick commerce fires up record discounts with rivals getting quicker Loyalty tech firm Capillary Tech files draft IPO papers; eyes Rs 430 crore via fresh issue Aneesh Reddy, founder, Capillary Technologies Customer engagement and loyalty tech provider Capillary Technologies India has filed its draft red herring prospectus (DRHP) with Sebi for an initial public offering (IPO), joining a growing list of new-age companies eyeing the public markets. IPO details: Fresh issue: Rs 430 crore. Rs 430 crore. Offer for sale: 18.3 million shares. 18.3 million shares. Promoter Capillary Technologies Pte, backed by Peak XV Partners and Avataar Venture Partners, will offload 14.2 million shares. JM Financial, IIFL Capital, and Nomura are book-running lead managers. Second attempt: The company initially filed its DRHP in December 2021, but the proposal did not receive Sebi's nod. ET had first reported in November that Capillary Technologies was reviving its IPO plans and was aiming to file this year. Objectives: Capillary Technologies will use the proceeds from the fresh issue to: Cover its cloud infrastructure costs. Invest in product and platform R&D. Fund inorganic growth through acquisitions. The funds will be deployed between fiscal years 2026 and 2028. Foxconn plans to make iPhone enclosures in India Apple's largest supplier, Foxconn, is setting up a unit in Oragadam, Tamil Nadu, to manufacture iPhone enclosures, as ET first reported on September 25 last year. The move is part of the Taiwanese contract manufacturer's broader efforts to expand and diversify its operations in India. Foxconn India footprint: iPhone assembly unit at Sriperumbudur, Tamil Nadu. New facility in Devanahalli, near Bengaluru. New AirPods assembly unit in Hyderabad. Progress so far: Construction has commenced at the ESR Industrial Park in Oragadam, close to Foxconn's upcoming display module facility, according to one person aware of the developments. Quote, unquote: "This gives Apple more leverage and also provides Foxconn with ease of integration and boosts value addition," said Neil Shah, vice president, Counterpoint Research. "This improves supply chain effectiveness for Foxconn as well as Apple." Tariff troubles: Apple is keen to move iPhone production to India to avoid potential US tariffs on Chinese-made devices. However, US President Donald Trump has threatened a 25% duty on devices made overseas. Despite this, Foxconn is pressing ahead with its expansion plans for India. Applied Materials says Bengaluru chipmaking centre to rake in $2 billion Suraj Rengarajan, head of semiconductor products group, Applied Materials India American chip equipment manufacturer Applied Materials plans to establish a chip manufacturing centre in Bengaluru for $400 million over four years, Suraj Rengarajan, managing director at Applied Materials India, told ET. The company expects the plant to attract investments up to $2 billion in the future. Other Top Stories By Our Reporters Bhavish Aggarwal, founder, Krutrim Fresh exits at Krutrim: Three senior executives heading engineering and AI product execution at Bhavish Aggarwal's Krutrim have left, as the company laid off over a dozen people from their linguist teams across multiple languages early this week, sources familiar with the matter told us. Groww to apply for corporate bond trading licence: Stockbroker Groww is planning to seek Sebi's approval to offer trading in corporate bonds through its mobile application, according to two people in the know. AI, automation, geopolitics in focus at TCS AGM: Tata Consultancy Services (TCS) will focus on four strategic pillars: establishing a large pool of AI agents to work alongside the human workforce, delivering solutions for a human-plus-AI model, investing in AI data centres, and partnerships, said director Keki Mistry during the company's 30th annual general meeting (AGM). Insurtech firm Renewbuy bags $10 million: Insurance broking startup Renewbuy has secured $10 million (approximately Rs 86 crore) in a funding round from its existing investors, London-based Apis Partners and 360 One (previously IIFL Wealth). Global Picks We Are Reading ■ How much energy does AI use? The people who know aren't saying (Wired) ■ Samsung is desperate to compete on chips. Workers say it comes at a cost. (Rest of World) ■ I tried the future of smart glasses at WWDC. They weren't made by Apple (CNET) Updated On Jun 20, 2025, 07:27 AM IST
