Dove Soft IPO
Dove Soft IPO is a ₹73.26 Cr book-built SME issue comprising a fresh issue and offer for sale, opening on September 30, 2026, with a price band of ₹104 to ₹111 per share and listing on BSE SME.
Dove Soft IPO Details
Dove Soft Limited is an integrated cloud communications solutions provider offering communication services through SMS, Voice, WhatsApp, Email and other digital channels. The company provides solutions to enterprises and over-the-top (OTT) players across sectors including telecommunications, information technology, travel and tourism, entertainment, media, retail, healthcare, banking, financial services, insurance, automobile and e-commerce. Its service portfolio includes SMS, WhatsApp, Voice, Interactive Voice Response (IVR), Outbound Dialer (OBD), Email and digital products. The Dove Soft IPO comprises a fresh issue and an offer for sale of equity shares and is proposed to be listed on the BSE SME platform.
Dove Soft IPO GMP
Dove Soft IPO GMP is reported at ₹0 by InvestorGain as of September 24, 2026. Another current tracker reports that the GMP has not started. GMP is unofficial and unregulated and may change before listing.
Dove Soft IPO Timeline (Tentative)
The Dove Soft IPO timeline covers the key stages of the public issue, including the IPO opening and closing dates, finalisation of the basis of allotment, initiation of refunds or unblocking of application funds, credit of shares to investors' demat accounts and the proposed listing date. The IPO is scheduled to open on 30 September 2026 and close on 5 October 2026, with the listing currently scheduled for 8 October 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 30, 2026 |
| IPO Close Date | Mon, Oct 5, 2026 |
| Basis of Allotment | Tue, Oct 6, 2026 |
| Initiation of Refunds | Wed, Oct 7, 2026 |
| Credit of Shares to Demat | Wed, Oct 7, 2026 |
| Listing Date | Thu, Oct 8, 2026 |
| IPO Opens | September 30, 2026 |
| IPO Closes | October 5, 2026 |
| Basis of Allotment | October 6, 2026 |
| Refund Initiation | October 7, 2026 |
| Credit of Shares to Demat | October 7, 2026 |
| Listing Date | October 8, 2026 |
Dove Soft IPO Lot Size
The Dove Soft IPO lot size is 1,200 shares. Individual investors need to apply for a minimum of 2 lots, or 2,400 shares, requiring ₹2,66,400 at the upper price band. S-HNI applications begin at 3 lots and B-HNI applications at 9 lots.
| 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) | 8 | 9,600 | ₹10,65,600 |
| B-HNI (Min) | 9 | 10,800 | ₹11,98,800 |
Dove Soft IPO Reservation
Dove Soft IPO comprises 53,28,000 fresh equity shares and 12,72,000 shares offered for sale. The issue follows the SME allocation structure with up to 50% reserved for QIBs, at least 15% for NIIs and at least 35% for retail investors.
Dove Soft IPO Subscription
Subscription data is not yet available because the Dove Soft IPO is scheduled to open on September 30, 2026.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Dove Soft
Dove Soft Limited is a cloud communications and Communications Platform as a Service (CPaaS) company that enables enterprises and OTT platforms to communicate with customers through digital channels.
The company's solutions include SMS, RCS, WhatsApp, voice, automated voice calls, email and other digital communication services. Its platforms are designed to support transactional communications, promotional campaigns and customer-engagement activities.
Dove Soft serves customers across industries including telecom, information technology, travel and tourism, entertainment, media, retail, real estate, healthcare, BFSI, automobiles, e-commerce and food and beverages.
The company follows a consultative sales model under which its team works with customers to understand their communication requirements, develops customised communication plans and implements the selected solutions.
Dove Soft operates through subsidiaries including Dove Soft Technologies, incorporated in 2021, and Dove Soft Global FZCO, established in Dubai in 2025. As of March 31, 2026, the company had 92 employees.
Strengths
- Operates in the cloud communications and CPaaS segment.
- Offers multiple digital communication channels including SMS, RCS, WhatsApp, voice and email.
- Serves customers across a diversified range of industries.
- Provides customised communication solutions through a consultative sales model.
- Presence through subsidiaries in India and Dubai.
- Revenue has increased substantially between FY2024 and FY2026.
- Maintains a broad range of communication services for transactional, promotional and customer-engagement use cases.
- Experienced promoters and management team.
Risks to Consider
- The company operates in a competitive cloud communications and CPaaS industry.
- Technology and communication platforms are subject to rapid changes in customer requirements.
- The business depends on maintaining relationships with customers and communication-service partners.
- Revenue is exposed to customer concentration and changes in communication volumes.
- Regulatory changes relating to telecommunications, data protection and digital communications may affect operations.
- The company operates through subsidiaries, creating additional operational and geographic exposure.
- Dependence on technology infrastructure and third-party communication networks could affect service delivery.
- The business may require continued investment in technology and infrastructure to remain competitive.
Dove Soft Financials (₹ Cr)
Revenue increased from ₹119.73 Cr in FY2024 to ₹273.98 Cr in FY2026, while net income increased from ₹10.27 Cr to ₹23.40 Cr over the same period.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | ₹119.73 Cr | ₹10.27 Cr | - | - |
| FY2025 | ₹187.74 Cr | ₹16.54 Cr | - | - |
| FY2026 | ₹273.98 Cr | ₹23.40 Cr | - | - |
KPIs & Valuation
The FY2026 valuation metrics are based on the ₹104–₹111 price band and prospectus-derived EPS of ₹11.78 before the issue and ₹9.21 after the issue.
Objects of the Issue
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Funding the working capital requirements of the company.
- General corporate purposes.
- Meeting the expenses related to the offer.
- The stated working capital requirement is the principal identified use of the fresh issue proceeds.
Promoters, Lead Managers & Registrar
Purva Sharegistry (India) Private Limited is the Registrar to the Dove Soft IPO, while Swastika Investmart Limited is acting as the Book Running Lead Manager (BRLM). The registrar will be responsible for processing applications, maintaining issue records and handling allotment-related activities, while the BRLM will manage and coordinate the public issue process and related activities in accordance with applicable regulations.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Purva Sharegistry (India) Pvt. Ltd. |
|---|---|
| Phone | +91 22 4961 4132 |
| Website | https://www.purvashare.com/ |
Dove Soft IPO Review
Dove Soft operates in the cloud communications and CPaaS segment, providing businesses with digital communication tools across SMS, RCS, WhatsApp, voice, automated calls and email. The company serves customers from a wide range of industries and also operates through subsidiaries in India and Dubai.
The company's revenue increased from ₹119.73 Cr in FY2024 to ₹187.74 Cr in FY2025 and ₹273.98 Cr in FY2026. Net income increased from ₹10.27 Cr in FY2024 to ₹16.54 Cr in FY2025 and ₹23.40 Cr in FY2026.
For FY2026, the company reported ROE of 29.79%, ROCE of 36.50%, RoNW of 29.79%, EBITDA margin of 11.96% and debt-to-equity of 0.10. FY2026 EPS was ₹11.78 before the issue and ₹9.21 after the issue based on the dilution calculation.
The IPO proceeds are primarily intended for working capital requirements. Investors reviewing the issue should consider the company's growth in revenue and profitability along with competition in the CPaaS sector, technology dependence, customer relationships, regulatory requirements and the risks disclosed in the offer documents.
How to Apply
- Log in to your supported IPO application platform through your broker or bank.
- Select the Dove Soft IPO from the IPO section.
- Enter your investor category and application details.
- Select the number of lots you wish to apply for.
- Enter your UPI ID linked to your bank account.
- Submit the IPO application.
- Wait for the UPI mandate request from your bank.
- Open your UPI application and approve the mandate.
- Ensure sufficient funds are available in the linked bank account.
- Keep your application and UPI mandate details for future reference.
Prospectus & Documents
Official offer documents and disclosures for the Dove Soft IPO. Always read the RHP before investing.
Last updated Sep 25, 2026.