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₹111 - 111 Amounts at the upper price band.
Dove Soft Ltd
IT - SoftwareIPOSME
₹111 - 111
Our Company is an integrated provider of cloud communications solutions in India. commonly known as a "CPaaS" (Communications Platform as a Service) provider. We offer a wide range of services through channels such as SMS, RCS, Voice, WhatsApp, Email, and other digital platforms. Our solutions enable businesses to communicate efficiently with their customers through reliable and scalable messaging and engagement tools.
Lot1,200Min Invest₹2,64,000Face Value₹10Issue Size₹73 CrFresh Issue₹59 CrOffer for Sale₹14 CrListing Price₹110CMP₹89
Timeline
30 Sept
Bidding opens
5 Oct
Bidding closes
6 Oct
Allotment
7 Oct
Refund & demat credit
8 Oct
Listing
Subscription · As of 8:06 PM, 5 Oct
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB1.00x60,71460,7140.67NII1.87x28.77 L53.70 L59.60Retail0.81x29.37 L23.90 L26.53Total1.36x66.00 L89.76 L93.35
Reports
Offer Details
Terms
Issue Size₹73 Cr0.66 Cr shares
Fresh Issue₹59 Cr
Offer for Sale₹14 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 1.03% · NII 48.98% · RETAIL 49.99%
Application Sizes
Retail₹2,64,0001-1 lots
sNII₹2,66,400from 2 lots
bNII₹10,65,600from 8 lots
Managers & Registrar
Lead ManagerSwastika Investmart Limited
RegistrarPurva Sharegistry (I) Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrRahul BhanushaliPRMTR6,36,0007.06Sky Occean Infrastructure LimitedPRMTR6,36,0007.06Total12,72,00014.12
Shareholding
CategoryPre IPOPost IPOPromoter Group74.32%52.86%Public25.68%47.14%
Objects of the Issue
- Funding working capital requirements of the company
- General corporate purposes
Anchor Book
30-day lock-in04-Nov-202690-day lock-in03-Jan-2027
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 36 | 73 | 119 | 188 | 274 |
| Operating ProfitCr | 2 | 7 | 15 | 24 | 33 |
| OPM% | 6.2 | 10.0 | 12.6 | 12.6 | 12.0 |
| PBTCr | 3 | 7 | 14 | 21 | 30 |
| PATCr | 2 | 5 | 11 | 16 | 23 |
| EPS | 2 | 3 | 6 | 9 | 12 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 18 | 18 | 19 | 19 |
| ReservesCr | 10 | 5 | 15 | 46 | 70 |
| BorrowingsCr | 3 | 4 | 2 | 8 | 9 |
| Total AssetsCr | 24 | 48 | 88 | 117 | 164 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 1 | 2 | 0 | -17 | 4 |
| Investing Cash FlowCr | -5 | -10 | 0 | -3 | -3 |
| Financing Cash FlowCr | 4 | 7 | -1 | 22 | -1 |
| Net Cash FlowCr | 0 | 0 | 0 | 1 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- 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
Strategies · as stated in the DRHP
- Continue to develop omni-channel digital communication offerings and innovative solutions.
- Grow presence in additional markets to serve clients locally and globally.
- Enhance service offerings through organic and inorganic opportunities.
- Invest in Research and Development.
Risks · as stated in the DRHP
- The Company is involved in certain income tax proceedings, and any adverse outcome may adversely affect its financial condition, cash flows and reputation.
- Certain income tax proceedings involving one of its Group Company i.e. E-Trav Tech Limited may adversely affect the company's reputation and financial position.
- Certain proceedings relating to an entity previously associated with a member of the company's Promoter Group may adversely affect the reputation of such member and, consequently, the Company.
- The company may be subject to penalties or regulatory action for not obtaining a fresh valuation report at the time of cancellation of the transaction with Rajabhau Shriram Phad.
- The company is dependent on its strategic relationship with Channel partners and the company's direct relationships with mobile network operations ("MNOs"). The company's inability to enters into or maintain such relationships, particularly with MNOs, may adversely affect its business, financial condition and results of operations.
- Failures, defects, delays and other problems involving the technology systems and infrastructure on which the company relies on providing its services and solutions to the company's clients may adversely affect its business, financial condition and results of operations.