DS

Dove Soft IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

Open

BSE SME

PRICE BAND

Rs 104 - 111

LOT SIZE

2,400

Shares

MIN INVEST

Rs 2.7L

CUT-OFF

Rs 111

per share

Open

30 Sept 2026

Last Day

05 Oct 2026

Allotment

06 Oct 2026

Expected Refund

07 Oct 2026

Listing

08 Oct 2026

GMP Today

22m ago

0%

Rs 0 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 111

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 0

+0.0% (2400 shares)

Subscription

0.86x

Day 2 - Live

Sub. Page

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Real-time subscription data

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Current IPO Status: open

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About Dove Soft

Software Products

Incorporated in August 2011, Dove Soft provides cloud-based communication solutions including bulk, transactional and promotional SMS, OTP delivery, automated IVR, outbound dialer services, missed-call alerts, enterprise email infrastructure and WhatsApp Business API solutions. The company serves customers across industries including Telecom, IT, Travel, Entertainment, Media, Advertising, Retail, Real Estate, Healthcare, BFSI, Automobile, E-commerce and Food & Beverages. Dove Soft operates through subsidiaries including Dove Soft Technologies Private Limited and Dove Soft Global FZCO in Dubai. As of March 31, 2026, the company had 92 employees.

IPO_DETAILS_LONG: Dove Soft IPO is a BSE SME book-built issue of up to 66,00,000 equity shares of face value ₹10 each at a price band of ₹104 to ₹111 per share. The issue comprises a fresh issue of up to 53,28,000 shares aggregating up to ₹59.14 Cr and an Offer for Sale of up to 12,72,000 shares aggregating up to ₹14.12 Cr at the upper price band. The IPO opens on September 30, 2026 and closes on October 5, 2026. Allotment is scheduled for October 6, refund and share credit for October 7, and listing on BSE SME is scheduled for October 8, 2026. The fresh issue proceeds are proposed to be used primarily for ₹46 Cr of working capital requirements, with the balance for general corporate purposes and issue-related expenses.

Issue Details

Total Issue Size

Rs 73 Cr

Issue Size for Retail

Rs 25.64 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 59.14 Cr (81%)
OFS
Rs 14.12 Cr (19%)

Reservation Quota

QIB

50%

Retail

35%

NII

15%

Lead Manager

Swastika Investmart Ltd.

Registrar

Purva Sharegistry (India) Pvt. Ltd.

Objects of the Issue (as per DRHP)

  • 1Funding working capital requirements of the Company - 46.00 Cr
  • 2General Corporate Purposes - balance of net proceeds after the above specified object and issue expenses

Key Performance Indicator (KPI)

KPIMar 31, 2025Mar 31, 2026
ROE33.12%29.79%
ROCE42.14%36.50%
Debt/Equity0.130.10
RoNW33.12%29.79%
PAT Margin8.81%8.54%
EBITDA Margin12.86%11.96%
Price to Book Value3.17
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)12.289.60
P/E (x)9.0411.56
Promoter Holding74.32%53.73%
Market CapRs 270.69 Cr.

Kurjibhai Rupareliya; Rahul Bhanushali; Sky Occean Infrastructure Limited

Dove Soft Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26
Total Income119.79188.26274.74
Net Profit (PAT)10.2716.5423.4
EBITDA14.7724.1332.78
Borrowings2.542.496.29
ROE36.71%33.12%29.79%
ROCE45.48%42.14%36.5%
Debt/Equity0.10.130.1
Assets85.56108.99164.4

Company Financials

Financial charts load as you reach this section.

MARKET SENTIMENT SCORE

0
50
100
50
NA

Based on expert reviews, GMP trends & market signals

Expert Reviews & Opinions

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Company Contact Details

Office No. 1101, DLH Park, Opposite MTNL, Goregaon West, Mumbai, Maharashtra - 400062
+91 93219 38063
[email protected]
Visit Website

Green Flags

  • Revenue increased from ₹119.79 Cr in FY24 to ₹274.74 Cr in FY26.
  • PAT increased from ₹10.27 Cr in FY24 to ₹23.40 Cr in FY26.
  • FY26 ROE was 29.79% and ROCE was 36.50%.
  • Debt/equity remained low at 0.10x in FY26.
  • Diversified cloud communication offering across SMS, RCS, Voice, WhatsApp and Email.
  • Serves multiple industries and operates through Indian and international subsidiaries.
  • The company has expanded its communication product portfolio beyond SMS.

Red Flags

  • SMS remains the dominant revenue stream, creating concentration within the service mix.
  • Working capital is a major funding requirement, with ₹46 Cr allocated from the fresh issue.
  • The issue includes an OFS of ₹14.12 Cr, with proceeds going to selling shareholders.
  • The largest customer accounted for a significant share of FY26 revenue.
  • Operating cash flow has been weaker than reported accounting profit across the recent period.
  • The company operates in a competitive CPaaS and enterprise communications market.
  • === END ===

Grey Market Premium

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Frequently Asked Questions

What is the price band of Dove Soft IPO?

The price band is Rs 104-111 per share. One lot contains 2400 shares; its value at the upper price is Rs 2,66,400. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for Dove Soft IPO?

The scheduled bidding period is 30 Sept 2026 to 5 Oct 2026.

When is Dove Soft IPO scheduled to list?

The scheduled listing date is 8 Oct 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for Dove Soft IPO?

Purva Sharegistry (India) Pvt. Ltd. is the registrar. See the allotment page for the available schedule and official checking link.

Who manages Dove Soft IPO?

Lead manager information recorded for this issue: Swastika Investmart Ltd..

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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