Archive · 6 Oct 2026
Dove Soft IPO Closes Subscribed 1.36 Times
Dove Soft is a company that helps businesses communicate with customers through messages, calls, email and other digital channels.
It offered shares to investors in an IPO, which is a way for a company to sell shares to the public.
The offer closed with bids for more shares than were available, at 1.36 times the number on offer.
Investors who are not institutions placed the most bids relative to their reserved portion.
The company plans to use money from the new shares for working capital and general business needs.
Its shares are proposed to be listed on the BSE SME platform.
Dove Soft says it wants to grow services beyond traditional text messages, including AI-enabled communication tools.
It aims for newer channels to make up a larger share of its business by 2029.
Dove Soft Limited’s IPO closed after receiving bids for 89,62,800 shares against 66,00,000 shares on offer, a 1.36-times subscription.
The Non-Institutional Investors portion was subscribed 1.96 times, the QIB portion 1.00 times, and the Individual Investors portion 0.81 times.
The ₹73.26 crore issue comprised a ₹59.14 crore fresh issue and a ₹14.12 crore offer for sale, with a price band of ₹104–₹111 per share.
Dove Soft said fresh-issue proceeds would go toward working capital and general corporate purposes; the shares are proposed to list on the BSE SME platform.
The company reported FY2026 revenue of ₹273.98 crore and profit attributable to owners of ₹22.89 crore, and aims for a 50:50 mix of traditional SMS and newer channels by 2029.
- Who
- Dove Soft Limited, an Indian cloud communications and CPaaS provider.
- What
- Its ₹73.26 crore SME IPO closed with bids for 1.36 times the shares offered.
- When
- The IPO opened on September 30, 2026, and closed on October 5, 2026; the announcement was dated October 6.
- Where
- The issue is proposed to list on the BSE SME platform.
- Why
- The fresh-issue proceeds are intended for working capital and general corporate purposes.
Investor demand
Investor demand
Different subscription levels across investor groups
Investor demand
Non-Institutional Investors showed the strongest relative demand, subscribing 1.96 times their portion.
Investor demand
Individual Investors subscribed 0.81 times their portion, below the shares reserved for that category.
- Total issue size
- ₹73.26 crore
- Subscription
- 1.36 times; bids for 89,62,800 shares against 66,00,000 offered
- Fresh issue
- 53.28 lakh shares, aggregating to ₹59.14 crore
- Offer for sale
- 12.72 lakh shares, aggregating to ₹14.12 crore
- Price band
- ₹104 to ₹111 per equity share
- FY2026 revenue
- ₹273.98 crore, up from ₹187.74 crore in FY2025
- FY2026 profit attributable to owners
- ₹22.89 crore
- Proposed listing
- BSE SME platform