India, Sept. 30 -- SaaS company Capillary Technologies has received the approval from SEBI to proceed with its IPO.

As per the latest update on SEBI website, the regulator issued observations to the company on September 22. In SEBI's parlance, issuance of observations is a green light to proceed with the public offer.

Capillary's public issue will comprise a fresh issue of up to INR 430 Cr and an offer for sale (OFS) of up to 18.3 Mn shares. Ronal Holdings, Trudy Holdings, Filter Capital India, Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy B, Sudhakar Reddy Katanguri, Sripathi Damodar Reddy and Manjunath Nanjaiah are the investors who will be offloading their shares via the OFS.

The company filed its DRHP in June, a coup...