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Dove Soft IPO
Price Band
₹104.0–111.0
Issue Size
₹73.26 Cr
Lot Size
1,200 shares
Min Investment
₹266,400
2 LOTS MIN
GMP
—
Issue Price
₹111.0
Dove Soft IPO AI Summary
- Dove Soft IPO is upcoming on BSE SME in the Software Products sector.
- Price band: ₹104.0–₹111.0 per share, lot size 1,200 shares (min. investment ₹266,400, 2 lots minimum).
- Subscription window: 30 Sep–05 Oct 2026, listing on 08 Oct 2026.
Dove Soft Limited is set to launch its IPO with a price band of ₹104.0 to ₹111.0, aiming to raise ₹73.26 Cr. The company specializes in cloud-communication solutions and has shown consistent growth in revenue and profit over recent years.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
IPO not open yet
Opens 30 Sep 2026 · in 2 days
Dove Soft IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
TopFund Score — Listing Data Indicator
GMP is 0.0% above issue price
Subscription not open yet
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 16.6% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
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: 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. 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. 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 (₹ Cr)
As of 2026-03-31
| 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 |
Key Ratios
EPS
₹12.28
NAV
₹35.02
ROE
33.12%
ROCE
42.14%
P/B Value
3.17
P/E Ratio
9.04
Market Cap
₹270.69 Cr
PAT Margin
8.81%
Debt/Equity
0.13
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Tanla Platforms Ltd. | 187.61 | 20.46% | 13.58 | 38.36 | 38.36 |
| Route Mobile Ltd. | 447.85 | 9.72% | 13.21 | 37.94 | 37.94 |
| Dove Soft Ltd. This IPO | 47.43 | 29.79% | — | 12.01 | 11.78 |
Promoters
Kurjibhai Rupareliya, Rahul Bhanushali, Sky Occean Infrastructure Ltd.
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
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total Income was ₹119.79 Cr in the period ending 31 Mar 2024, rising to ₹188.26 Cr by 31 Mar 2025, and further increasing to ₹274.74 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹10.27 Cr in the period ending 31 Mar 2024, increasing to ₹16.54 Cr by 31 Mar 2025, and further rising to ₹23.40 Cr by 31 Mar 2026.
Valuation
Dove Soft's implied P/E at the issue price is approximately 9.04, compared to peers Tanla Platforms Ltd. trading at a P/E of 13.58 and Route Mobile Ltd. at 13.21.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the price at which an IPO is expected to trade in the unofficial market before its listing. It can provide insights into investor sentiment and demand for the IPO, but it is not a guaranteed indicator of the listing price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance, considering factors such as market conditions and the company's growth potential.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to consider avoiding this IPO, especially if they are not comfortable with the inherent risks associated with investing in new market entrants.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 30 September 2026 and closes on 5 October 2026, with allotment expected on 6 October 2026, and the listing date set for 8 October 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by various factors, including market conditions and investor sentiment. While some IPOs may experience significant gains on their debut, others may not perform as expected, leading to potential losses.
This evaluation is generated from Dove Soft's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Dove Soft IPO?
The price band of Dove Soft IPO is ₹104.0–₹111.0 per share.
When does Dove Soft IPO open and close?
Dove Soft IPO opens on 30 September 2026 and closes on 05 October 2026.
When does Dove Soft IPO list on the stock exchange?
Dove Soft IPO is scheduled to list on 08 October 2026, with an estimated listing price of ₹111.0 based on current GMP.
What is the lot size for Dove Soft IPO?
The lot size for Dove Soft IPO is 1200 shares, requiring a minimum investment of ₹266,400 (2 lots).
What is the TopFund Listing Data Indicator for Dove Soft?
Dove Soft's Listing Data Indicator score is 35/100 (Low signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the Dove Soft IPO?
The price band for the Dove Soft IPO is ₹104.0 to ₹111.0.
What is the minimum investment required?
The minimum investment required is ₹266,400.0.
What is the lot size for the IPO?
The lot size for the Dove Soft IPO is 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is 8 October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which an IPO might trade in the grey market before its official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
30 Sep 2026
Close
05 Oct 2026
Allotment
06 Oct 2026
Listing
08 Oct 2026
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