Dove Soft Limited IPO: Price Band, Issue Details And Key Information

Mumbai (Maharashtra) [India], October 7: Dove Soft Limited's SME Initial Public Offering (IPO) comprised a Fresh Issue of 53.28 lakh shares aggregating to Rs 59.14 crore and an Offer for Sale of 12.72 lakh shares aggregating to Rs 14.12 crore. The total issue size was 66,00,000 shares, aggregating to Rs 73.26 crore.

The IPO was open for subscription from September 30 to October 5, 2026, at a price band of Rs 104 to Rs 111 per share. The equity shares are proposed to be listed on the BSE SME, with a projected listing date of October 8, 2026.

Swastika Investmart Ltd. is the book-running lead manager and market maker, while Purva Sharegistry (India) Pvt. Ltd. is the registrar to the issue.

The issue proceeds are proposed to be used for funding the working capital requirements of the company and general corporate purposes.

The allotment of shares was scheduled for October 6, 2026, and the shares were scheduled to be credited to the demat accounts of allottees on October 7, 2026.

The net offer to the public comprises 62,70,000 shares after excluding 3,30,000 shares allotted on a firm basis. Of the net offer, 64,800 shares (1.03%) are allocated to Qualified Institutional Buyers (QIBs), 30,70,800 shares (48.98%) are allocated to Non-Institutional Investors (NIIs), and 31,34,400 shares (49.99%) are allocated to Retail Individual Investors (RIIs).

The minimum application size for retail investors is two lots, or 2,400 shares, requiring an investment of Rs 2,66,400 at the upper price band. For NIIs, the minimum bidding size is three lots, or 3,600 shares, requiring an investment of Rs 3,99,600 at the upper price band.

Dove Soft Limited's revenue increased by 46% and profit after tax (PAT) increased by 42% between the financial years ended March 31, 2025 and March 31, 2026.

Incorporated in August 2011, Dove Soft Limited provides cloud-communication solutions across SMS, RCS, Voice, WhatsApp, Email and other digital channels. The company serves enterprises and over-the-top (OTT) platforms and offers services including transactional SMS, WhatsApp messaging, voice services, automated voice calls, email communication and digital products. Its operations include markets in India and Dubai.

The company also offers a unified communication platform covering multiple communication channels. Its business operations include offices in Mumbai, Ahmedabad, Gurugram and Dubai.

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