Dove Soft Limited
Bookbuilding IPO · BSE
- Price band
- ₹104 - ₹111
- Lot size
- 1,200 shares
- Issue amount
- ₹73.26 cr
- Total subscription
- 1.43×
- Opens
- 30 Sept 2026
- Closes
- 5 Oct 2026
- Allotment
- 6 Oct 2026
- Listing
- 8 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 66,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,24,800
- Fresh issue
- ₹59.14 cr
- Offer for sale
- ₹14.11 cr
- Registrar
- Purva Sharegistry India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,33,200
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,90,58,755
- Shares after issue
- 2,43,86,755
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,66,400 |
| sHNI | 3 | 3,600 | ₹3,99,600 |
| bHNI | 8 | 9,600 | ₹10,65,600 |
Share reservation
Subscription & GMP
Subscription by category
Reported 5 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,306 | 1,063 |
| HNIs(10L +) | 569 | 136 |
| HNIs (2-10L) | 284 | 60 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 0.72 | 0.72 |
| RETAIL | 34.79 | 28.32 |
| NIB | 34.09 | 70.45 |
| HNIs 2+ | 11.35 | 2.4 |
| HNIs 10+ | 22.74 | 68.05 |
| HNIs | 34.09 | 70.45 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 12.28 | 8.8 | 5.6 |
| ROE | 29.79 | 33.12 | 36.71 |
| ROCE | 36.5 | 42.14 | 45.48 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 9.04 | 0 | 0 |
| POST IPO(PE) | 11.56 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Dove Soft Limited | 9.04 | 0 | 10 | 47.43 | 29.79 | 12.01 |
| Route Mobile Limited | 13.21 | 0 | 10 | 447.85 | 9.72 | 37.94 |
| Tanla Platforms Limited | 13.58 | 0 | 1 | 187.61 | 20.46 | 38.36 |
Company information
Company profile
Dove Soft Limited, incorporated in August 2011, provides integrated cloud communication solutions through channels such as SMS, RCS, Voice, WhatsApp, Email and other digital platforms. The company serves enterprises and OTT platforms with services including messaging, WhatsApp, voice and IVR solutions, automated calls, email communication and digital products. Its solutions are used across industries such as Telecom, IT, Travel, Entertainment, Media, Advertising, Retail, Real Estate, Healthcare, BFSI, Automobile, E-commerce and Food & Beverages to support customer communication and improve operational efficiency. Its key offerings include bulk, transactional and promotional SMS with OTP delivery; automated IVR, outbound dialers and missed-call alerts; enterprise-grade email delivery infrastructure; and WhatsApp Business API solutions for customer notifications, support and marketing. The company operates a cloud-based platform that allows clients to build and manage applications without the need to purchase, configure or maintain the underlying hardware and software infrastructure. As of March 31, 2026, Dove Soft Limited had 92 employees across various departments.
Strengths
- Technology & Communication Solutions: Dove Soft Limited provides business communication and technology solutions across SMS, WhatsApp, RCS, voice, email, and related digital channels, giving it a diversified service portfolio.
- Multiple Market Opportunities: The company serves businesses seeking digital communication, customer engagement, and automation solutions, allowing it to benefit from the continued adoption of digital communication technologies.
- Technology & Quality Certifications: Dove Soft has certifications including ISO 9001:2015, ISO 27001:2022, and CMMI Level 3, supporting its focus on quality management, information security, and process maturity.
Risk factors
- Rapid Technology Changes: The digital communication and IT industry evolves quickly, requiring continuous investment in technology, infrastructure, security, and skilled professionals to remain competitive.
- Regulatory & Data Compliance: Communication services involving SMS, WhatsApp, RCS, and customer data are subject to regulatory, privacy, and telecom requirements. Changes in these regulations may increase compliance costs or affect operations.
- Intense Competition: The company competes with established communication-platform providers and technology companies, which may create pricing pressure and require continuous product and service improvements.
Promoters
Kurjibhai Rupareliya
Rahul Bhanushali
Sky Occean Infrastructure Ltd.
Registrar & documents
Lead manager
Swastika Investmart Limited
Registrar & contacts
Purva Sharegistry India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Office No. 1101, DLH Park, Opp. MTN Goregoan West Mumbai, Maharashtra, 400062
+91 9321938063
[email protected]Company website ↗Understanding DSL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.