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.
Dove Soft IPO – Details
| IPO Opening Date | 30 September 2026 |
| IPO Closing Date | 05 October 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 66,00,000 Shares Worth ₹73.26 Crore Fresh Issue: 53,28,000 Shares Worth ₹59.14 Crore Offer For Sale: 12,72,000 Shares Worth ₹14.12 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹104 – ₹111 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Purva Sharegistry (India) Pvt. Ltd. |
| QIB Shares Offered | 1.03% |
| NII Shares Offered | 48.98% |
| Retail Shares Offered | 49.99% |
Dove Soft IPO – Date Schedule
| IPO Open Date | 30 September 2026 |
| IPO Close Date | 05 October 2026 |
| Basis of Allotment | 06 October 2026 |
| Initiation of Refund | 07 October 2026 |
| Credit of Shares to Demat | 07 October 2026 |
| IPO Listing Date | 08 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 05, 2026 |
Dove Soft IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,66,400 |
| Retail (Max) | 2 | 2400 | ₹2,66,400 |
| S-HNI (Min) | 3 | 3600 | ₹3,99,600 |
| S-HNI (Max) | 7 | 8400 | ₹9,32,400 |
| B-HNI (Min) | 8 | 9600 | ₹10,65,600 |
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 Promoters
- Kurjibhai Rupareliya
- Rahul Bhanushali
- Sky Occean Infrastructure Ltd.
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹119.79 Cr | ₹106.06 Cr | ₹10.27 Cr | ₹2.54 Cr |
| 31 March 2025 | ₹188.26 Cr | ₹166.07 Cr | ₹16.54 Cr | ₹2.49 Cr |
| 31 March 2026 | ₹274.74 Cr | ₹244.51 Cr | ₹23.40 Cr | ₹6.29 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 29.79% |
| ROCE | 36.50% |
| Debt/Equity | 0.10 |
| RoNW | 29.79% |
| PAT Margin | 8.54% |
| EBITDA Margin | 11.96% |
| NAV | 47.43 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.28 | 9.60 |
| P/E (x) | 9.04 | 11.56 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding working capital requirements of the Company. | ₹46.00 |
| General Corporate Purposes. |
✅Strengths
- 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.
⚠️Risks
- Customer Concentration may impact revenue if key customers reduce business.
- Service Provider Dependence with top 10 providers contributing 92.88% of purchases.
- Geographical Concentration with 89.40% revenue from North and West zones.
- High Working Capital Requirement due to payment-cycle differences.
- Business Conflicts may arise from group entities operating in similar businesses.
Dove Soft IPO Promoter Holding
| Pre-Issue Share Holding | 74.32% |
| Post Issue Share Holding | 53.73% |
Dove Soft IPO Prospectus
Company Contact Information
| Dove Soft Limited Office No. 1101, DLH Park, Opp. MTN, Goregoan West Mumbai, Maharashtra, 400062 Phone: +91 9321938063 Email: secretarial@dove-soft.com Website: https://dovesoft.io/ |
Dove Soft IPO Registrar
| Purva Sharegistry (India) Pvt. Ltd. Phone: 022-41343255 Email: newissue@purvashare.com Website: https://www.purvashare.com/investor-service/ipo-query |
Dove Soft IPO Lead Manager(s)
| 1. Swastika Investmart Ltd. |
Dove Soft IPO FAQ
| What is the Dove Soft IPO? Dove Soft IPO is an SME IPO. The issue is priced at ₹104 – ₹111 per equity share. The IPO is to be listed on BSE SME. |
| When will Dove Soft IPO open? The IPO is to open on 30 September 2026 for QIB, NII and Retail Investors. |
| What is Dove Soft IPO Investors’ Portion? The Investors portion for QIB – 1.03%, NII – 48.98%, and Retail – 49.99%. |
| What is the Dove Soft IPO Size? Dove Soft IPO size is ₹73.26 Crore. |
| What are the Dove Soft IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,66,400, while the maximum bid is 2400 Shares for ₹2,66,400. |
| What is the Dove Soft IPO Allotment Date? Dove Soft IPO allotment date is 06 October 2026. |
| What is the Dove Soft IPO Listing Date? Dove Soft IPO listing date is 08 October 2026. The IPO is to be listed on the BSE SME. |
