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Dudani Retail IPO
Price Band
₹
Issue Size
₹10.54 Cr
Lot Size
4,000 shares
Min Investment
₹232,000
2 LOTS MIN
GMP
+₹3.0 (10.34%)
Issue Price
₹29.0
Subject to Sauda
₹9100
Paid only if allotted
Dudani Retail IPO AI Summary
- Dudani Retail IPO is open now on BSE SME in the Speciality Retail sector.
- Subscription window: 25 Sep–29 Sep 2026, listing on 05 Oct 2026.
- Current GMP is +₹3.0 (10.34%) — unofficial and can change daily.
Dudani Retail Limited is an SME in the specialty retail sector, focusing on apparel manufacturing and distribution. The company has shown a mixed performance in terms of revenue but has demonstrated growth in profitability. With a diversified business model and strategic partnerships, it aims to utilize the IPO proceeds for expansion and operational improvements.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
LIVE · updates every 5 minOverall Subscription
0.08x
| Category | Subscription | Status |
|---|---|---|
| NII (HNI) |
0.01x
|
0.01x |
| Retail (RII) |
0.16x
|
0.16x |
| Total | 0.08x | 0.08x |
Auto-updated every 5 min · As of 25th Sep 2026 17:09
Dudani Retail IPO Grey Market Premium (GMP) Today
GMP
+₹3.0
GMP %
+10.34%
Est. Listing
₹32.0
Updated: 28 Sep 2026 02:15
GMP Trend (Last 5 Days)
TopFund Score — Listing Data Indicator
GMP is 10.3% above issue price
Overall subscribed 0.08x
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 37.9% 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
Dudani Retail Limited is engaged in the design, manufacturing, sourcing, and distribution of apparel and related fashion products. The company operates through a combination of its own brands, licensed manufacturing arrangements with fashion and lifestyle marketplaces, and product supply agreements with quick-commerce platforms. The company primarily manufactures women's ethnic and fusion wear, while also trading in men's apparel. Its operations support just-in-time (JIT) order fulfillment for various licensed brands under agreements with leading fashion and lifestyle marketplaces. The manufacturing facility is located at F-93, 4th Floor, Kartarpura Industrial Area, Jaipur, Rajasthan, where activities such as fabric cutting, stitching, finishing, quality inspection, packing, and dispatch are carried out. Processes including dyeing, printing, embroidery, and other fabric treatments are outsourced to specialized third-party vendors. Under its licensed manufacturing arrangements with fashion and lifestyle marketplace platforms, the company produces garments for several established labels, including Kalini, Corsica, Roadster, Anouk Rustic, All About You, Taavi, Navyaazri, Chandbaali, Baesd, ETC, Navibhu, and Here & Now. The company also supplies apparel products to a quick-commerce platform through a sell-or-return model. Under this arrangement, products are delivered to designated hubs, with ownership transferring upon acceptance by the platform. Payments are settled periodically based on actual sales, after deducting applicable margins. Dudani Retail Limited markets its products through multiple online channels, including Myntra, Amazon, Flipkart, Ajio, Nykaa Fashion, as well as its own direct-to-consumer website. Competitive Strengths: Diversified presence across multiple apparel business segments. Long-standing relationships with fashion and lifestyle companies through licensed manufacturing partnerships. In-house production capabilities for women's apparel, complemented by a network of specialized outsourced processors. Asset-light operating model for men's wear and selected trading categories. Structured supply framework with a quick-commerce platform. Multi-channel sales strategy encompassing marketplaces and direct online sales. Strong expertise in managing marketplace-led business operations. End-to-end operational capabilities covering design, production, quality control, and order fulfillment. Well-established sourcing network for fabrics, trims, and finished apparel products.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 17.01 | 14.28 | 10.59 |
| Total Income | 24.59 | 25.29 | 25.13 |
| Profit After Tax | 1.90 | 1.78 | 0.99 |
| EBITDA | 2.97 | 2.86 | 1.81 |
| NET Worth | 10.30 | 8.40 | 6.62 |
| Reserves and Surplus | 3.55 | 1.65 | 4.62 |
| Total Borrowing | 4.82 | 4.03 | 3.53 |
Key Ratios
EPS
₹2.82
NAV
₹15.26
ROE
18.46%
ROCE
25.88%
RoNW
18.46%
P/B Value
1.90
P/E Ratio
10.28
Market Cap
₹30.12 Cr
PAT Margin
7.73%
Debt/Equity
0.47
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Mish Designs Ltd. | 52.62 | -6% | -11.27 | -3.24 |
| Purple United Sales Ltd. | 78.8 | 22.3% | 26.72 | 15.81 |
| Nandani Creation Ltd. | 34.64 | 3.35% | 23.7 | 1.04 |
| Dudani Retail Ltd. This IPO | 15.26 | 18.46% | 10.3 | 2.82 |
Promoters
Akshay Dudani, Charu Dudani
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 Capital Expenditure towards purchase of machinery for expansion and upgradation of existing manufacturing facility 0.79 2 Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the company. 3.00 3 To meet Working Capital Requirements 3.97 4 To be utilized towards Strategic initiatives, partnerships, joint ventures and acquisitions; Brand building and strengthening of promotional, marketing activities and advisory; On-going general corporate exigencies or any other purposes as approved by the Board subject to compliance with the necessary regulatory provisions etc. 1.50 5 Issue Expenses 1.29 Total 10.54
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹25.13 Cr in the period ending 31 Mar 2024, slightly decreasing to ₹25.29 Cr by 31 Mar 2025, before falling further to ₹24.59 Cr in the most recent period ending 31 Mar 2026. This indicates a downward trend in total income over the last three periods.
Profit Trend
Profit after tax was ₹0.99 Cr in the period ending 31 Mar 2024, increasing to ₹1.78 Cr by 31 Mar 2025, and then rising further to ₹1.90 Cr in the most recent period ending 31 Mar 2026. This shows a general upward trend in profitability across the periods.
Valuation
At the issue price of ₹29.0, Dudani Retail's implied P/E ratio is approximately 10.3, compared to its peers, which have P/E ratios ranging from -11.27 to 26.72. This indicates that Dudani Retail is priced at roughly 10.3 times its trailing earnings, which is on the lower end compared to some peers.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the unofficial price at which shares are traded before their official listing. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price, while a negative GMP indicates the opposite. GMP can provide insights into market sentiment but is not a guaranteed predictor of listing performance.
Subscription Demand
As of 25th September 2026, the IPO has received a total subscription of 0.08 times, with retail investors subscribing 0.16 times and non-institutional investors (HNI) subscribing 0.01 times. This indicates lower demand for the issue relative to the number of shares offered.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider market conditions and the company's fundamentals before making a decision.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, as they can be subject to significant price fluctuations and market uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on 25th September 2026 and closes on 29th September 2026. Allotment of shares will be finalized on 30th September 2026, with the listing of shares expected on 5th October 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. Factors such as market sentiment, demand for the stock, and overall market conditions can influence the stock's performance on its debut. Investors should be aware that while some IPOs may list at a premium, others may not perform as expected.
This evaluation is generated from Dudani Retail'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 Dudani Retail IPO GMP today?
Dudani Retail IPO GMP today is +₹3.0 (10.34%). GMP is an unofficial grey-market indicator and can change daily.
When does Dudani Retail IPO open and close?
Dudani Retail IPO opens on 25 September 2026 and closes on 29 September 2026.
When does Dudani Retail IPO list on the stock exchange?
Dudani Retail IPO is scheduled to list on 05 October 2026, with an estimated listing price of ₹32.0 based on current GMP.
What is the lot size for Dudani Retail IPO?
The lot size for Dudani Retail IPO is 4000 shares, requiring a minimum investment of ₹232,000 (2 lots).
What is the TopFund Listing Data Indicator for Dudani Retail?
Dudani Retail's Listing Data Indicator score is 39/100 (Moderate 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 lot size for this IPO?
The lot size for Dudani Retail's IPO is 4000 shares.
What is the minimum investment required?
The minimum investment required is ₹232,000.
What is the issue price of the shares?
The issue price of the shares is ₹29.0.
When is the listing date for this IPO?
The listing date is set for 5th October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price of the stock in the grey market before its official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Sep 2026
Close
29 Sep 2026
Allotment
30 Sep 2026
Listing
05 Oct 2026
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