Capillary’s cloud play vs Fujiyama’s clean energy bet in IPO race

IPO performance snapshot  
Capillary Technologies India Ltd has launched an IPO worth around ₹877.5 crore, while Fujiyama Solar’s issue size is approximately ₹828 crore. Early subscription data showed moderate demand for Capillary, whereas Fujiyama Solar witnessed stronger traction, particularly from Qualified Institutional Buyers (QIBs). Analysts highlight that GMP trends for Fujiyama indicate moderate listing gains, while Capillary’s GMP signals restrained near‑term upside.  

Experts note that both IPOs represent different sectoral strengths—enterprise SaaS versus renewable energy—and should be evaluated based on long‑term fundamentals rather than short‑term grey market signals.  

Major takeaways  

• Capillary Tech IPO size ~₹877.5 crore; Fujiyama Solar IPO size ~₹828 crore  
• Fujiyama Solar subscription stronger, closing at over 2x with QIB demand above 5x  
• Capillary Tech subscription moderate, GMP signals limited near‑term upside  
• Sectoral distinction: SaaS enterprise solutions vs renewable energy equipment  
• Experts advise long‑term orientation over chasing listing gains  

Sources: NSE Corporate Filings, Financial Express, NDTV Profit, LiveMint, Chittorgarh