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Capillary Technologies IPO Review

Capillary Technologies IPO has been reviewed by 7 analysts, and the overall consensus is Avoid — carrying a score of 36. Out of the 7 analysts who have covered this IPO, 2 recommend subscribing while 5 advise caution or avoidance — reflecting a cautious view from the analyst community.

The issue is priced in the band of ₹₹549 to ₹577 per share, with a minimum application size of 25 shares. Subscription ran from 14 Nov 2025 to 18 Nov 2025. The issue size is ₹878 crore, a mix of fresh issue and offer for sale. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
36/ 100
Avoid 2 of 7 recommend subscribing
How analysts voted
Apply 2
Neutral 2
Avoid 3
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

{DILIP DAVDA]CTIL is a software product company offering AI-based cloud-native SaaS products and solutions. The company helps enterprise and customer to bond long term relationship based on specially designed loyalty programme. It incurred losses till FY24, and turned the corner from FY25. It remains a pure long term story in domestic market with dense population. Based on its recent financial data, the issue appears aggressively priced. It may catch first mover fancy post listing. Only well-informed/risk seekers/cash surplus investors may park moderate funds, others can stay away.

Listing gains

Valuation dominated the coverage and split it. The notes price the issue between about 180 and 302 times FY25 earnings on a market cap near ₹4,576 crore, with no directly comparable listed company. Three analysts said avoid on that basis against two subscribe, pointing away from listing gains.

Short-term strategy

Profitability only just arrived, with operating margin at 10.9 percent in FY25 against 2.3 percent in FY24, following significant losses in previous years. One note also flags negative cash flow from operations. Revenue was ₹362.56 crore in the half year to September 2025.

Long-term strategy

The positive notes recommend it for the long term, citing 53 percent revenue CAGR between FY23 and FY25 as the SaaS platform expanded among global enterprises. The opposing view is that at 180 to 302 times earnings the price already assumes many years of that growth continuing.

How this is written: an AI-assisted summary of the 8 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Capillary Technologies IPO?

The analyst consensus for Capillary Technologies IPO tracked on this page is Avoid, with a score of 36/100. Out of 7 analysts who have reviewed this IPO, 2 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 36 mean for Capillary Technologies IPO?

The score of 36 is an aggregate of all analyst ratings tracked for Capillary Technologies IPO. A score in this range signals that most analysts are advising caution or outright avoidance. Read the individual analyst verdicts above for more context.

What was the actual listing price of Capillary Technologies IPO?

Capillary Technologies IPO listed on November 21, 2025 at ₹571.90, against the issue price of ₹577 — a loss of -0.88% (₹5.1 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Capillary Technologies IPO?

Capillary Technologies IPO was priced at ₹₹549 to ₹577 per share. The minimum lot size is 25 shares. Subscription ran from 14 Nov 2025 to 18 Nov 2025.

Explore Capillary Technologies IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Capillary Technologies IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Avoid
Score
36 / 100
Listed at
₹571.90
Full IPO details