Dove Soft(O)SME
Dove Soft Limited provides cloud-based communication solutions, connecting businesses with customers through SMS, RCS, Voice, WhatsApp, Email, and other digital platforms across multiple sectors.
Price Band
₹111 - ₹111
Lot Size
2400 Shares
Issue Size
₹73.26 Cr
Fresh Issue
₹59.14 Cr
OFS
₹14.12 Cr
Registrar
AI Sentiment Score
Current GMP
₹0
Est. Listing: ₹111 (0%)
📅 IPO Timeline
1
Open
Sep 30, 2026
2
Close
Oct 5, 2026
3
Allotment
Oct 6, 2026
4
Refund
Oct 7, 2026
5
Demat
Oct 7, 2026
6
Listing
Oct 8, 2026
✨ AI Analysis & Prediction
-2.0%
predicted listing gain
Dove Soft Limited operates in cloud-based communication solutions. The IPO has moderate subscription numbers, weak retail demand, and negligible grey market momentum, balancing strong revenue and PAT growth against SME listing liquidity risks.
💪 Strengths
- Strong multi-year revenue and PAT growth trajectory
- Robust return ratios (ROE at 29.89% and ROCE at 33.81%)
- Low debt-to-equity ratio of 0.10 providing balance sheet flexibility
⚠️ Weaknesses
- Subdued retail subscription demand below 1x
- SME listing constraints with high application lot size (₹2.66 lakhs)
🚀 Opportunities
- Expanding demand for cloud communication and omnichannel enterprise messaging
- Cross-selling digital products and automated voice/WhatsApp services to existing enterprise clients
🛡️ Threats
- Intense competition in the cloud communications and CPaaS sector
- Regulatory shifts in telecom and data privacy compliance
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Funding working capital requirements of the Company | ₹46.00 |
| General Corporate Purpose | ₹27.26 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 119.79 Cr | Rs 188.26 Cr | Rs 274.74 Cr |
| Net Profit / PAT (₹ Cr) | Rs 10.27 Cr | Rs 16.54 Cr | Rs 23.40 Cr |
| Total Assets (₹ Cr) | Rs 85.56 Cr | Rs 108.99 Cr | Rs 164.40 Cr |
| ROE % | NA | NA | 29.89% |
| ROCE % | NA | NA | 33.81% |
| Debt / Equity | NA | NA | 0.10 |
📋 Live Subscription Status
QIB
1.00x
NII
1.19x
Retail
0.55x
Total
0.86x
Updated: Oct 2, 2026 6:34 PM
💼 Reservation Quota
QIB
1.03%
Retail
49.99%
NII
48.98%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Dove Soft has demonstrated solid financial scaling with revenues jumping from ₹73.77 crores in FY23 to ₹274.74 crores in FY26, alongside PAT expanding from ₹4.82 crores to ₹23.40 crores over the same period. Its return metrics are healthy with an ROE of 29.89% and ROCE of 33.81%, supported by a low debt-to-equity ratio of 0.10.
The ₹73.26 crore SME IPO is priced at ₹104 to ₹111 per share with a minimum lot size of 2,400 shares amounting to ₹2,66,400. Total subscription stands at 0.86x with soft retail participation (0.55x), indicating a muted listing day expectation and dependence on institutional and HNI allocation support.