Dove Soft IPO: dates, price band, lot size and GMP
Dove Soft IPO closed on 5 Oct on the SME; price band ₹104 – ₹111, lot 1,200 shares, no GMP reported yet. Allotment 6 Oct, listing 8 Oct.
Updated 6 Oct 2026, 14:03 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the Dove Soft IPO has a price band of ₹104 – ₹111, a lot of 1,200 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 30 Sep – 5 Oct 2026 |
| Price band | ₹104 – ₹111 |
| Lot size | 1,200 shares |
| Issue size | ₹73.26 Cr |
| Fresh issue | ₹55.48 Cr |
| Offer for sale | ₹14.12 Cr |
| Subscription | 1.38x |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| Lead managers | Swastika Investmart Ltd. |
| Status | Closed, listing awaited |
Timeline
- Issue opens: 30 Sep
- Issue closes: 5 Oct
- Allotment: 6 Oct
- Refunds: 7 Oct
- Demat credit: 7 Oct
- Listing: 8 Oct
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 1x |
| NII | 1.96x |
| sNII | 0.21x |
| bNII | 2.83x |
| Retail | 0.81x |
| Total | 1.38x |
Last updated 5 Oct 2026, 5:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹270.69 Cr |
| P/E (pre-issue) | 9.04x |
| P/E (post-issue) | 11.56x |
| Fresh issue (shares) | 49,98,000 |
| Offer for sale (shares) | 12,72,000 |
| Total shares offered | 62,70,000 |
| Promoter holding pre-issue | 74.32% |
| Promoter holding post-issue | 53.73% |
| Promoters | Kurjibhai Rupareliya, Rahul Bhanushali, Sky Occean Infrastructure Ltd. |
| Lead managers | Swastika Investmart Ltd. |
| Registrar phone | 022-41343255 |
| Registrar email | newissue@purvashare.com |
| Company website | dovesoft.io |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,400 | ₹2,66,400 |
| Retail (maximum) | 2 | 2,400 | ₹2,66,400 |
| sNII (minimum) | 3 | 3,600 | ₹2,66,400 |
| bNII (minimum) | 3 | 3,600 | ₹10,65,600 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | 1% | 64,800 | Not more than 50% of the Net Offer |
| NII (HNI) | 49% | 30,70,800 | Not less than 15% of the Net Offer |
| sNII | 16.3% | 10,22,400 | |
| bNII | 32.7% | 20,48,400 | |
| Retail | 50% | 31,34,400 | Not less than 35% of the Net Offer |
| Market Maker | 5.3% | 3,30,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 30 Sep | 0.00x | 1.29x | 0.00x | 1.93x | 0.43x | 0.85x |
| Day 2 · 1 Oct | 1.00x | 1.29x | 0.01x | 1.93x | 0.55x | 0.86x |
| Day 3 · 5 Oct | 1.00x | 1.96x | 0.21x | 2.83x | 0.81x | 1.38x |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹12.28 |
|---|---|
| EPS (post-issue) | ₹9.6 |
| P/E (pre-issue) | 9.04x |
| P/E (post-issue) | 11.56x |
| RoCE | 42.14% |
| RoE | 33.12% |
| PAT margin | 8.81% |
| EBITDA margin | 12.86% |
| Price / book | 3.17x |
| NAV per share | ₹35.02 |
| Debt / equity | 0.13 |
| Market cap (upper band) | ₹270.69 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 164.4 | 108.99 | 85.56 | +50.8% |
| Total Income | 274.74 | 188.26 | 119.79 | +45.9% |
| Profit After Tax | 23.4 | 16.54 | 10.27 | +41.5% |
| EBITDA | 32.78 | 24.13 | 14.77 | +35.8% |
| NET Worth | 70.69 | 58.28 | 29.99 | +21.3% |
| Reserves and Surplus | 70.18 | 47.04 | 14.8 | +49.2% |
| Total Borrowing | 6.29 | 2.49 | 2.54 | +152.6% |
About Dove Soft
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.
Dove Soft Limited provides communication services that help businesses connect with customers through multiple digital channels. These include:
Dove Soft is ISO/IEC 27001 certified for information security and has connectivity with all major telecom operators in India, ensuring reliable and fast service delivery.
As of April 15 2025, the company employed 67 people in various departments.
Objects of the issue
- Funding working capital requirements of the Company — ₹46 Cr
- General Corporate Purposes
Net proceeds: ₹46 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|---|
| Dove Soft Ltd. (issuer) | 12.01 | 11.78 | 47.43 | — | 29.79% | Consolidated |
| Route Mobile Ltd. | 37.94 | 37.94 | 447.85 | 13.21x | 9.72% | Consolidated |
| Tanla Platforms Ltd. | 38.36 | 38.36 | 187.61 | 13.58x | 20.46% | Consolidated |
Notes: P/E Ratio has been computed based on the closing market price of equity shares on the BSE website on September 04, 2026, divided by the Diluted EPS for the period ended March 31, 2026.
Risk factors (as disclosed by the company)
- Our Company is involved in certain income tax proceedings, and any adverse outcome may adversely affect our financial condition, cash flows and reputation — The Income Tax Department has alleged that the Company was a beneficiary of accommodation entries aggregating to ₹100.00 Lakhs received through M/s.
- Certain income tax proceedings involving one of our Group Company i.e. E-Trav Tech Limited may adversely affect our reputation and financial position — For Assessment Year 2020-21, one of our Group Company i.e.
- Certain proceedings relating to an entity previously associated with a member of our Promoter Group may adversely affect the reputation of such member — One of the member of our Promoter Group of the company and a son of one of the Promoter i.e.
- We may be subject to penalties or regulatory action for not obtaining a fresh valuation report at the time of cancellation of the transaction with Mr — Company had entered into a Sale Agreement dated January 31, 2022 with Mr.
- We are dependent on our strategic relationship with Channel partners and our direct relationships with mobile network operations ("MNOs") — Our ability to provide services to our clients is highly dependent on our relationships with channel partners and MNOs for connectivity.
- Failures, defects, delays and other problems involving the technology systems and infrastructure on which we rely on providing our services and solutions… — Our ability to deliver services and solutions to clients relies on a range of technology systems and infrastructure.
- We face a risk from potential claims resulting from client's misuse of our platform to send unauthorized text messages and calls and other services… — Messages may subject us to potential risks, including liabilities or claims relating to regulatory regime in the various regions in which we operate.
- Our revenues depend on the limited number of clients and the loss of such clients could adversely affect our financial condition and results of operations — We are dependent on a limited clients for a substantial portion of our revenues.
From the RHP (risk factors pages 25–27). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Dove Soft IPO GMP today and trend
- Dove Soft IPO subscription status, day by day
- Dove Soft IPO allotment status and how to check
Frequently asked questions
When does the Dove Soft IPO open and close?
The issue is scheduled for 30 Sep – 5 Oct 2026.
What is the Dove Soft IPO price band?
The price band is ₹104 – ₹111 per share with a lot size of 1,200 shares.
How big is the Dove Soft IPO?
The total issue size is ₹73.26 Cr, of which ₹55.48 Cr is a fresh issue and ₹14.12 Cr an offer for sale.
When will Dove Soft list?
The tentative listing date is 8 Oct on the SME platform.
How do I apply for the Dove Soft IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Dove Soft · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Dove Soft · as filed · bseindia.com
- Registrar allotment page, Purva Sharegistry (India) Pvt.Ltd. · allotment 6 Oct · purvashare.com
- BSE SME issues page · listing 8 Oct · bsesme.com
- Dove Soft company website · dovesoft.io
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Oct, 07:59 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Dove Soft IPO”, https://buyunlistedshares.com/ipo/dove-soft-ipo, as of 06 Oct 2026.
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- Jio Platforms IPO · 21 – 23 Oct 2026
Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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