India, Nov. 19 -- Bengaluru-based SaaS startup Capillary Technologies is all decked up to make its stock market debut by the end of this week. As of today, November 18, 2025, the last day of its listing, the startup's IPO was oversubscribed 52X. With this, it is all set to become 2025's first pure-play SaaS company to walk down the D-Street aisle.

By the time this piece was published, the stock was trading at INR 606 (with a premium of INR 26) on the grey market, highlighting positive sentiment around SaaS-driven recurring revenue models.

A quick recap: Capillary's IPO comprised a fresh issue of INR 345 Cr and an offer-for-sale (OFS) component of 92.3 Lakh shares, valued at INR 532.5 Cr at the upper price band of INR 577 per share. The ...