Dove Soft IPO Details

Bookbuilding IPO | ₹73 Cr | Listing at BSE SME | Wed, Sep 30, 2026 - Mon, Oct 5, 2026

IPO Details

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Dove Soft IPO is a book build issue of ₹73.26 crores. The issue is a combination of fresh issue of 53.28 lakh shares aggregating to ₹59.14 crores and offer for sale of 12.72 lakh shares aggregating to ₹14.12 crores.

Dove Soft IPO opens for subscription on Sep 30, 2026 and closes on Oct 5, 2026. The allotment for the Dove Soft IPO is expected to be finalized on Oct 6, 2026. Dove Soft IPO will list on the BSE SME with a tentative listing date fixed as Oct 8, 2026.

Dove Soft IPO is set issue price band at ₹104 to ₹111 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,66,400 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,99,600.

Swastika Investmart Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Swastika Investmart Ltd.

Refer to Dove Soft IPO RHP for detailed Information.

IPO Open

Wed, Sep 30, 2026

IPO Close

Mon, Oct 5, 2026

Price Band

₹104 to ₹111

Market Cap*

₹270.69 Cr * on Upper Price

IPO Details

IPO Date

30 Sep to 5 Oct, 2026
Listing Date

Thu, Oct 8, 2026
Face Value

₹10 per share
Price Band

₹104 to ₹111
Lot Size

1,200 Shares
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE SME

Total Issue Size

66,00,000 shares (agg. up to ₹73 Cr)
Reserved for Market Maker

3,30,000 shares (agg. up to ₹4 Cr) Swastika Investmart Ltd.
Fresh Issue (Ex Market Maker)

49,98,000 shares (agg. up to ₹55 Cr)
Offer for Sale

12,72,000 shares of ₹10 (agg. up to ₹14 Cr)
Net Offered to Public

62,70,000 shares (agg. up to ₹70 Cr)
Share Holding Pre Issue

1,90,58,755 shares
Share Holding Post Issue

2,43,86,755 shares

IPO Timetable (Tentative)

IPO Open

Tue, Sep 29, 2026
Allotment

Tue, Oct 6, 2026
Credit of Shares

Wed, Oct 7, 2026

IPO Close

Mon, Oct 5, 2026
Refund

Wed, Oct 7, 2026
Listing

Thu, Oct 8, 2026

Issue Reservation

Dove Soft IPO comprises a total issue size of 66,00,000 shares. The net offer to the public is 62,70,000 shares, after excluding 3,30,000 shares allotted on a firm basis. Of the Net offer 64,800 (1.03%) are allocated to QIB, 30,70,800 (48.98%) allocated to NII 31,34,400 (49.99%) allocated to RII.

Investor Category	Shares	% of Net Issue	% of Total Issue
QIB	64,800	1.03%	0.98%
NII (HNI)	30,70,800	48.98%	46.53%
− bNII > ₹10L	20,48,400		31.04%
− sNII < ₹10L	10,22,400		15.49%
Retail	31,34,400	49.99%	47.49%
Firm Reservations
Market Maker	3,30,000		5.00%
Total	66,00,000	100.00%	100.00%

IPO Lot Size

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.

Application	Lots	Shares	Amount
Individual investors (IND) (Min)	2	2400	₹2,66,400
Individual investors (IND) (Max)	2	2400	₹2,66,400
S-HNI (Min)	3	3600	₹3,99,600
S-HNI (Max)	7	8400	₹9,32,400
B-HNI (Min)	8	9600	₹10,65,600

About Dove Soft Ltd.

Incorporated in August 2011, Dove Soft Limited provides integrated cloud-communication solutions through SMS, RCS, Voice, WhatsApp, Email, and other digital channels. The company provides services to enterprises and OTT platforms, including SMS, WhatsApp, Voice, IVR, automated calls, E-mail, and Digital Products. The company serves clients across industries like Telecom, IT, Travel, Entertainment, Media, Advertising, Retail, Real Estate, Healthcare, BFSI, Automobile, E-commerce, and Food & Beverages, helping manage customer communication and streamline operations.

Services:

Enterprise Messaging Services: Bulk SMS, transactional and promotional SMS, and OTP delivery.
Voice Solutions: Automated IVR, outbound dialer services, and missed call alerts.
Email Marketing Solutions: High-volume enterprise-grade email delivery infrastructure.
WhatsApp Business API: Secure and scalable customer engagement via WhatsApp for notifications, support, and marketing.

The company cloud-based delivery platform enables them to build and manage applications without having to create and maintain the underlying infrastructure for each client. It enables them to provide enterprises with solutions to operate applications without purchasing, configuring or managing the underlying hardware and software.

As of March 31, 2026, the company employed 92 people in various departments.

Competitive Strength:

Sustainable business model and consistent financial track record.
Diversified service portfolio resulting in our lesser dependence on a single industry, product or services.
Scalable delivery platform supported by robust infrastructure.
Experienced Promoter and senior management team.

Company Financials (Restated Consolidated)

Dove Soft Ltd.’s revenue increased by 46% and profit after tax (PAT) rose by 42% between the financial year ending with March 31, 2026 and March 31, 2025. (Amount in ₹ Crore)

Period Ended	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	164.40	108.99	85.56
Total Income	274.74	188.26	119.79
Profit After Tax	23.40	16.54	10.27
EBITDA	32.78	24.13	14.77
NET Worth	70.69	58.28	29.99
Reserves and Surplus	70.18	47.04	14.80
Total Borrowing	6.29	2.49	2.54

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IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1 Funding working capital requirements of the Company

46.00
2 General Corporate Purposes
Total

46.00

Key Performance Indicator (KPI)

KPI	Mar 31, 2025
ROE	33.12%
ROCE	42.14%
Debt/Equity	0.13
PAT Margin	8.81%
EBITDA Margin	12.86%
NAV	35.02
Price to Book Value	3.17

IPO Valuation

Valuation Metric	Pre IPO	Post IPO
EPS (₹)	12.28	9.60
P/E (x)	9.04	11.56
Market Cap at Offer Price	₹211.55 Cr.	₹270.69 Cr

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Category	Pre IPO	Post IPO
Promoter and Promoter Group	74.32%	53.73%
Public	25.68%	46.27%
Total	100%	100%

Company Promoters: Kurjibhai Rupareliya, Rahul Bhanushali and Sky Occean Infrastructure Ltd..

Offer For Sale – Selling Shareholders

Name	Category	No. of Shares Offered	Amount (₹ cr.)
Rahul Bhanushali	Promoter	6,36,000	7.06
Sky Occean Infrastructure Ltd.	Promoter	6,36,000	7.06
Total		12,72,000	14.12

Dove Soft IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	0	0	0	0
Members	0	0	0	0

IPO Registrar

Purva Sharegistry (India) Pvt.Ltd.

022-41343255
newissue@purvashare.com
Visit Website

IPO Lead Manager(s)

Swastika Investmart Ltd.

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Dove Soft Ltd. Address

Office No. 1101,

DLH Park, Opp. MTN

Goregoan West

Mumbai, Maharashtra, 400062

+91 9321938063
secretarial@dove-soft.com
Visit Website

IPO FAQs

What is the Dove Soft IPO?

Dove Soft IPO is a SME IPO of 66,00,000 equity shares of the face value of ₹10 aggregating up to ₹73 Crores. The issue is priced at ₹104 to ₹111. The minimum order quantity is 1200.

The IPO opens on Wed, Sep 30, 2026, and closes on Mon, Oct 5, 2026.

Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

How to apply in Dove Soft IPO through Angel One?

Angel One customers can apply online in Dove Soft IPO using UPI as a payment gateway. Angel One customers can apply in Dove Soft IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Dove Soft IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Dove Soft IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

When Dove Soft IPO will open?

The Dove Soft IPO opens on Wed, Sep 30, 2026 and closes on Mon, Oct 5, 2026.

What is the lot size of Dove Soft IPO?

Dove Soft IPO lot size is 1200, and the minimum amount required for application is ₹2,66,400, with 2 lots being the minimum application size.

How to apply for Dove Soft IPO?

You can apply in Dove Soft IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Dove Soft IPO allotment?

The finalization of Basis of Allotment for Dove Soft IPO will be done on Tuesday, October 6, 2026, and the allotted shares will be credited to your demat account by Wed, Oct 7, 2026. Check the Dove Soft IPO allotment status.

When is Dove Soft IPO listing date ?

The Dove Soft IPO listing date is not yet announced. The tentative date of listing is Thu, Oct 8, 2026.