Capillary Technologies India Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CRISIL Ratings, details the utilization of proceeds from the company’s Initial Public Offer (IPO). The Audit Committee of Capillary Technologies reviewed the report on November 02, 2026, confirming that the funds were utilized in line with the company’s stated objectives.
Monitoring Agency Report Filed
Capillary Technologies India Limited has officially submitted its Monitoring Agency Report to the BSE Limited and the National Stock Exchange of India Limited. This report covers the utilization of funds raised through the company’s Initial Public Offer (IPO) for the financial quarter that concluded on September 30, 2026.
CRISIL Ratings Assessment
The report was prepared by CRISIL Ratings Limited, acting as the Monitoring Agency, in accordance with SEBI regulations. The monitoring covered the period up to September 30, 2026. The document confirms that the company’s utilization of IPO proceeds aligns with the disclosures made in the Offer Document.
Audit Committee Review
The findings of the Monitoring Agency Report were reviewed by the Audit Committee of Capillary Technologies India Limited at its meeting held on November 02, 2026. The company has ensured that the report is also made available on its corporate website for public access.
Key Financial Highlights from the Report
Issuer and Issue Details
The issuer is Capillary Technologies India Limited. The Initial Public Offer (IPO) took place from November 14, 2025, to November 18, 2025, with an issue size of Rs 3,450.00 million. The Net Proceeds after issue expenses amounted to Rs 3,229.08 million. CRISIL Ratings monitored the gross proceeds.
Utilization of Proceeds
The report indicates that IPO proceeds were utilized towards several key objectives:
- Funding cloud infrastructure costs.
- Investment in research, designing, and development of products and platforms.
- Investment in the purchase of computer systems for business operations.
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Progress on Objects
As of September 30, 2026:
- Funding the cloud infrastructure cost: Total utilized amount is Rs 504.17 million, with a total unutilized amount of Rs 925.83 million.
- Investment in research, designing, and development: Total utilized amount is Rs 105.32 million, with a total unutilized amount of Rs 610.49 million.
- Investment in purchase of computer systems: Total utilized amount is Rs 10.92 million, with a total unutilized amount of Rs 92.50 million.
- Funding inorganic growth and general corporate purposes: Total utilized amount is Rs 850.13 million, with a total unutilized amount of Rs 129.72 million.
- Issue expenses: Total utilized amount is Rs 188.30 million, with a total unutilized amount of Rs 32.62 million.
The total utilized amount across all objects is Rs 1,658.84 million, leaving a total unutilized amount of Rs 1,791.16 million.
Deployment of Unutilized Proceeds
The unutilized proceeds have been deployed into various instruments, including Fixed Deposits with Kotak Bank and RBL Bank, and balances maintained in the Public Issue Account and Monitoring Account. As of September 30, 2026, the market value of these investments was Rs 1,818.99 million.
Delay in Implementation
A delay was noted in the implementation schedule for research, designing, and development of products and computer systems. The company explained this is due to a reimbursement-based expenditure model, where costs are initially borne by the company and subsequently reimbursed. The company intends to utilize the unspent amount in subsequent periods.
Source: BSE
