Capillary Technologies, a company specialising in loyalty management and customer engagement software, is likely to file a draft prospectus by October and go public this fiscal, two people aware of the plan told Mint. This would be its second attempt at listing. The company’s board approved an initial public offering of ₹2,250 crore, of which ₹500 crore is a fresh issue of shares and ₹1,750 crore is an offer for sale by existing investors, according to a filing with the ministry of corporate affairs earlier this month. Investors such as Warburg Pincus and Avataar Ventures will sell a part of their stakes in the IPO to reach minimum public shareholding norms, the people added. Warburg Pincus first invested in Capillary in 2018 in a $20 million round, alongside Sequoia Capital. Avataar joined the cap table in 2023 in an equity and debt round that totalled $140 million.”The company is on track to list this year. It is likely to be valued at $1.2-1.3 billion. All investors are bullish on the growth of the company but will sell to meet the minimum public holding requirements,” one person told Mint, requesting anonymity. This is Capillary Technologies’ second attempt at a public listing. It joins startups including Navi and Droom that had initially pursued IPOs during the 2021 boom but are now making a renewed push to go public this year. The company first filed a draft red herring prospectus in December 2021 for a fresh issue of equity shares worth ₹200 crore and an offer for sale of ₹650 crore, totaling ₹850 crore. However, the company did not proceed with the listing at the time. Queries sent to Capillary Technologies, Warburg Pincus, and Avataar Ventures did not elicit a response at the time of publishing the story.Founded in 2012 by Aneesh Reddy, Ajay Modani, and Krishna Mehra, Bengaluru-based Capillary Technologies helps businesses across various industries to improve customer engagement, drive sales, and build brand loyalty through their AI-powered platform.It has a presence across the US, India, the Middle East, and Asia – in particular, Southeast Asia. The company reported revenue of about ₹600 crore in FY24, up 80%, while its net loss narrowed to ₹59 crore. In May, the company acquired assets from bankrupt Canadian firm Kognitiv in a bid to expand its North American presence and gain access to over 30 enterprise clients. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Capillary Tech plans to submit its IPO paperwork by October, with Warburg and other investors looking to reduce their holdings through the upcoming listing scheduled for this fiscal year.
