DOVE SOFT IPO
DOVE SOFT is a SME IPO with a current status of LISTED. The price band is 104 - 111 . The issue opens on 30 SEP and closes on 05 OCT. The listing date is 08 OCT.
Price Band
104 - 111
Unofficial GMP
₹0
Lot Size
1,200 shares
Minimum Investment
₹₹2,66,400
DOVE SOFT IPO GMP
The latest available GMP is ₹0. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹111.00
Estimated Gain
0.0%
DOVE SOFT IPO GMP History
0
28 SEP
0
30 SEP
0
01 OCT
0
04 OCT
0
05 OCT
0
05 OCT
0
06 OCT
0
07 OCT
DOVE SOFT IPO Details
- IPO Type
- SME
- Status
- LISTED
- Price Band
- 104 - 111
- Issue Size
- ₹73.26 Cr
- Issue Type
- Book Build Issu
- Fresh Issue
- ₹55.48 Cr
- Offer for Sale
- ₹14.12 Cr
- Face Value
- 10
- Lot Size
- 1,200
- Minimum Investment
- ₹2,66,400
- Exchange
- BSE
- Registrar
- Purva Sharegistry (India) Pvt.Ltd.
- Lead Managers
- Swastika Investmart Ltd.
- Market Maker
- ₹3.66 Cr
DOVE SOFT IPO Dates
- Open Date
- 30 SEP
- Close Date
- 05 OCT
- Allotment Date
- 06 OCT
- Refund Date
- 07 OCT
- Demat Credit Date
- 07 OCT
- Listing Date
- 08 OCT
DOVE SOFT IPO Subscription
- QIB
- 1.00x
- NII / HNI
- 1.87x
- Retail
- 0.81x
- Employee
- --
- Total Subscription
- 1.36x
DOVE SOFT IPO Financials
Revenue
FY2026
₹274.00 Cr
+45.74% vs FY2025
PAT
FY2026
₹23.40 Cr
+41.48% vs FY2025
Total Assets
FY2026
₹164.00 Cr
+50.46% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 120 | 188 | 274 |
| Net Profit | 10.27 | 16.54 | 23.40 |
| Total Assets | 85.56 | 109 | 164 |
DOVE SOFT IPO Valuation
- Market Cap (Post IPO)
- ₹270.69 Cr.
- EPS
- 12.28
- P/E Ratio
- 9.04
- Price to Book Value
- 3.17
- ROE
- 33.12%
- ROCE
- 42.14%
- Debt / Equity
- 0.13%
- PAT Margin
- 8.81%
- EBITDA Margin
- 12.86%
DOVE SOFT Peer Comparison
| Peer | Revenue | PAT | EPS | P/E | ROE | RONW | Debt / Equity |
|---|---|---|---|---|---|---|---|
| ROUTE MOBILE | 4,408.21 | 256.94 | 37.94 | 13.21x | 9.72% | 9.72% | 0.00% |
| TANLA PLATFORMS | 4,417.71 | 509.15 | 38.36 | 13.58x | 20.46% | 20.46% | 0.02 |
DOVE SOFT IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,66,400 |
| Retail Maximum | 2 | 2,400 | ₹2,66,400 |
| Small HNI | 3 | 3,600 | ₹3,99,600 |
| Big HNI | 8 | 9,600 | ₹10,65,600 |
DOVE SOFT IPO Reservation
- QIB
- 1.03%
- NII / HNI
- 48.98%
- Retail
- 49.99%
DOVE SOFT Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 74.32%
- Post-IPO Promoter Holding
- 53.73%
DOVE SOFT Company Overview
1. Dove Soft Limited is a cloud communications solutions provider operating in the Communications Platform as a Service (CPaaS) segment. 2. The company provides digital communication services to enterprises and over-the-top (OTT) platforms. 3. Its service portfolio includes SMS, Voice, WhatsApp, RCS, Email, IVR, Outbound Dialer (OBD) and other digital communication solutions. 4. Dove Soft acts as an aggregator between telecom operators/service providers and enterprise customers. 5. Its platform enables businesses to communicate with customers through multiple digital channels. 6. The company serves clients across industries including Telecom, IT, BFSI, Retail, Healthcare, Travel, Entertainment, Real Estate, Automobile, E-commerce and Food & Beverage. 7. The company operates through an asset-light, cloud-based delivery model. 8. Dove Soft has subsidiaries including Dove Soft Technologies Private Limited and Dove Soft Global FZCO in Dubai. 9. FY26 revenue was approximately ₹273.98 Cr and PAT was approximately ₹23.40 Cr. 10. Revenue increased from approximately ₹119.73 Cr in FY24 to ₹273.98 Cr in FY26.
DOVE SOFT Business Model
1. Core Business: Cloud-based communications and CPaaS solutions. 2. SMS Services: Provides enterprise SMS solutions including transactional and other business communications. 3. Voice Services: Provides voice communication, IVR and outbound dialer solutions. 4. WhatsApp: Enables businesses to communicate with customers through WhatsApp-based messaging. 5. RCS: Provides Rich Communication Services for enhanced business-to-customer communication. 6. Email: Offers email communication and digital engagement solutions. 7. Digital Products: Provides additional digital communication and engagement products for enterprises. 8. Customer Base: Serves enterprises and OTT platforms across multiple industries. 9. Telecom Connectivity: Procures messaging, voice and connectivity capacity from telecom operators and other service providers. 10. International Presence: Through its subsidiaries and operations, the company also serves international communication requirements. 11. Revenue Model: Revenue is generated through usage-based/pay-as-you-use services and subscription-based arrangements. 12. Platform Model: The cloud-based platform enables scalable delivery of communication services without requiring customers to build their own communication infrastructure.
DOVE SOFT Objects of the Issue
1. Working Capital: ₹46.00 Cr from the IPO proceeds will be utilised primarily to meet the company's working-capital requirements. 2. General Corporate Purposes: The balance of the fresh-issue proceeds will be used for general corporate purposes. 3. Fresh Issue: Up to 53,28,000 Equity Shares are being issued by the company. 4. Offer for Sale: Up to 12,72,000 existing Equity Shares are being offered by the selling shareholders. 5. Total Issue Size: Up to 66,00,000 Equity Shares at a price band of ₹104–₹111 per share. 6. IPO Proceeds: The fresh-issue component provides funds to the company, while proceeds from the OFS portion go to the respective selling shareholders.
DOVE SOFT Strengths
1. Working Capital: ₹46.00 Cr from the IPO proceeds will be utilised primarily to meet the company's working-capital requirements. 2. General Corporate Purposes: The balance of the fresh-issue proceeds will be used for general corporate purposes. 3. Fresh Issue: Up to 53,28,000 Equity Shares are being issued by the company. 4. Offer for Sale: Up to 12,72,000 existing Equity Shares are being offered by the selling shareholders. 5. Total Issue Size: Up to 66,00,000 Equity Shares at a price band of ₹104–₹111 per share. 6. IPO Proceeds: The fresh-issue component provides funds to the company, while proceeds from the OFS portion go to the respective selling shareholders.
DOVE SOFT Risks
1. Customer Concentration: The largest customer contributed approximately 37.60% of FY26 revenue, while the top 10 customers contributed approximately 79.94%. 2. Telecom Dependence: Approximately 87.05% of FY26 revenue came from customers classified under the telecom sector, creating significant industry concentration. 3. Supplier Concentration: The largest service provider accounted for approximately 71% of FY26 purchases. 4. Working Capital Risk: Trade receivables were approximately ₹137.64 Cr as of March 2026, creating significant working-capital requirements. 5. Cash Flow Risk: Operating cash flow has been negative in certain historical periods despite reported accounting profits. 6. Low Margin Buffer: The business operates with relatively modest margins, making profitability sensitive to changes in telecom/service-provider costs. 7. Supplier Dependence: The company relies on telecom operators and other service providers for communication and connectivity capacity. 8. Customer Churn: Loss of major enterprise customers or higher customer churn could adversely affect revenue. 9. Regulatory Risk: Messaging and voice services are subject to telecom and communication regulations, including TRAI-related requirements in India. 10. Misuse of Platform: Customers or users could potentially misuse communication services for unauthorised or non-compliant messages, creating regulatory and reputational risks. 11. Competition: The company competes with other CPaaS providers, telecom operators, messaging platforms and technology companies. 12. Geographic Concentration: North and West India accounted for approximately 89.40% of FY26 revenue, creating regional concentration risk. 13. Technology Risk: Rapid changes in communication technologies may require continued investment in platform capabilities. 14. SME Listing Risk: As a BSE SME-listed company, post-listing trading liquidity may be lower than that of larger mainboard companies.
DOVE SOFT Frequently Asked Questions
What is the DOVE SOFT IPO price band?
The DOVE SOFT IPO price band is 104 - 111 .
What is the latest DOVE SOFT IPO GMP?
The latest available DOVE SOFT IPO GMP in the IPOWEB database is ₹0. GMP is unofficial and does not guarantee a listing gain.
When does the DOVE SOFT IPO open and close?
The DOVE SOFT IPO opens on 30 SEP and closes on 05 OCT.
When is the DOVE SOFT IPO allotment date?
The DOVE SOFT IPO allotment date is 06 OCT.
When is the DOVE SOFT IPO listing date?
The DOVE SOFT IPO listing date is 08 OCT.
What is the DOVE SOFT IPO subscription?
The latest total subscription available for the DOVE SOFT IPO is 1.36x.