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Dove Soft IPOLISTED

BSESMEBook Built Issue

Dove Soft Limited provides integrated cloud communication solutions across SMS, WhatsApp, Voice, IVR, Email and RCS for enterprises and OTT platforms.

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Listing price

₹110.3

Listing gain

-0.63%

Current

₹110.3

Listed

08 Oct 26

Opens

30 Sept 26

Closes

05 Oct 26

Allotment

06 Oct 26

Refund

07 Oct 26

Demat

07 Oct 26

Listing

08 Oct 26

Listed at

₹110.3

-0.63% on 08 Oct 26

Min. investment₹2,66,400

GMP₹0 · +0.0%

Subscribed1.43x

Track in the app

Overview

Price band

₹111

Lot size

1200 shares

Min. investment

₹2,66,400

Issue size

₹73.26 Cr

66.00 L shares

Fresh issue

₹59.14 Cr

53.28 L shares

Offer for sale

₹14.12 Cr

12.72 L shares

Face value

₹10 / share

Issue type

Book Built Issue

Listing at

BSE

Reservation

Market Maker 5%QIB 0.98%B-HNI 31.04%S-HNI 15.49%Individual 47.49%

Category	Shares offered	% of issue
Market Maker	3,30,000	5%
QIB	64,800	0.98%
NII (HNI)	63,46,800	46.53%
B-HNI	61,30,800	31.04%
S-HNI	2,16,000	15.49%
Individual	25,51,200	47.49%
Total	92,92,800	100%

Lot size & investment

Application	Lots	Shares	Amount
Retail (Min)	2	2,400	₹2,66,400
Retail (Max)	2	2,400	₹2,66,400
S-HNI (Min)	3	3,600	₹3,99,600
S-HNI (Max)	7	8,400	₹9,32,400
B-HNI (Min)	8	9,600	₹10,65,600

Listing performance

NSE/BSE: DOVESOFT

Listing gain

−0.63%

Gain per retail lot

₹-1,680

Latest vs issue

—

GMP was

—

₹111

₹110.3−0.63%

Issue price

Listing price

Latest price appears here during market hours.

Dove Soft Live GMP

GMP₹0

Est. Price₹111

Est. Gain0.00%

Not enough GMP history yet to draw a trend.

GMP × retail lot ₹0GMP × S-HNI min ₹0Expected listing ~ ₹111GMP is unofficial and changes often. Data as of 11 Oct, 12:56 pm.

Subscription

11 Oct, 12:56 pm

Oversubscribed 1.43 times

QIB

1.00x

NII (HNI)

2.07x

S-HNI

0.21x

B-HNI

2.99x

Retail

0.81x

Total

1.43x

Total applications

Total bid amount

₹99.49 Cr

Category breakdown

Category	Shares offered	Shares bid	Times	Bid amount
QIB	—	—	1.00x	₹0.72 Cr
NII (HNI)	—	—	2.07x	₹70.45 Cr
B-HNI	—	—	2.99x	₹68.05 Cr
S-HNI	—	—	0.21x	₹2.4 Cr
Retail	—	—	0.81x	₹28.32 Cr
Total	—	—	1.43x	₹99.49 Cr

Application-wise breakup

Category	Applications reserved	Applied	Times
B-HNI	569	136	0.24x
S-HNI	284	60	0.21x
Retail	1,306	1,063	0.81x

Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).

Financials

(₹ in crores)

Key performance indicators

As of 31 Mar 2026

ROE

29.79%

PAT Margin

8.54%

ROCE

36.5%

EBITDA Margin

11.96%

Debt to Equity Ratio

0.1

RoNW

29.79%

Valuation vs listed peers

EPS Pre IPO

₹12.28

EPS Post IPO

₹9.6

P/E Pre IPO

9.04

P/E Post IPO

11.56

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+129.4%

Profit growth FY24 → FY26

+127.8%

ROCE

36.50%

PAT margin 8.5% and ROCE 36.5%.

Strengths & risks

Asset-Light Model with volume-based and subscription revenues.
Diversified Services across SMS, RCS, Voice, WhatsApp and Email.
Scalable Cloud Platform supporting digital communication solutions.
Diversified Customer Base across multiple industries.
Experienced Management with telecom sector expertise.

5.6/10

Buzz score · Neutral

From GMP, subscription and issue size

Financials7.0

Growth5.0

Business6.7

Demand4.6

Risk7.2

Objects of the issue

Purpose	Amount (₹ Cr)
Funding working capital requirements of the Company.	46
General Corporate Purposes.	-

Company & documents

Dove Soft Limited is an integrated cloud communications solutions provider and Communications Platform as a Service (CPaaS) company offering SMS, RCS, Voice, WhatsApp, Email and other digital communication solutions to enterprises and OTT platforms.

The Company provides transactional SMS, WhatsApp messaging, Voice, IVR, automated voice calls, Email and Digital Products and acts as an aggregator between telecom operators and clients for seamless communication delivery.

Dove Soft serves diverse industries including Telecom, IT, Travel & Tourism, Entertainment, Media, Advertising & Events, Retail, Real Estate, Healthcare & Cosmetics, BFSI, Automobile, E-commerce and Food & Beverages. It develops customized communication plans based on client requirements and supports implementation through its technical and operational teams.

The Company follows a cloud-based, asset-light model, with its applications deployed on cloud servers, allowing clients to use communication solutions without managing the underlying hardware and software infrastructure. It operates through subsidiaries Dove Soft Technologies Private Limited and Dove Soft Global FZCO, Dubai, which also provide communication and technology-related services.

As of March 31, 2026, the Company had 92 employees across management, administration, IT, operations, sales, finance, HR and compliance functions.

Registrar

Purva Sharegistry (India) Pvt. Ltd.

Phone: 022-41343255

Email: newissue@purvashare.com

Web: https://www.purvashare.com/investor-service/ipo-query

Company contact

Dove Soft Limited

Office No. 1101, DLH Park, Opp. MTN, Goregoan West Mumbai, Maharashtra, 400062

Phone: +91 9321938063

Email: secretarial@dove-soft.com

Web: https://dovesoft.io/

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