SME issue Dove Soft is set to open for public subscription on September 30 and close on October 5, as reported by Moneycontrol. The company is raising ₹73.26 crore through a combination of fresh equity issuance and offer for sale. The issue has been structured with a price band of ₹104-111 per share, with each equity share carrying a face value of ₹10 each.
The fundraising comprises 53.28 lakh fresh shares and 12.72 lakh shares through an offer for sale, according to the IPO details. The company is also planning to list its shares on the BSE SME platform on October 8, following the completion of the subscription period. The ₹73.26 crore fundraise is primarily allocated for ₹46 crore towards funding working capital requirements (62.79% of estimated amount), with the remainder designated for general corporate purposes.
According to The Economic Times analysis, Dove Soft demonstrated strong financial growth with sales turnover increasing from ₹98.01 crore in March 2024 to ₹156.60 crore in March 2025, representing a 62.79% year-on-year growth. The company's operating profit rose to ₹16.53 crore in FY25 from ₹12.84 crore in the previous year, while reported PAT increased to ₹10.55 crore compared to ₹9.05 crore in FY24. The company's EPS improved to ₹5.54 from ₹5.01 in the previous year, with shares in issue totaling 190.59 lakh as of March 2025.
Incorporated in 2011, Dove Soft operates as an integrated provider of cloud communications solutions in India, commonly known as a Communications Platform as a Service (CPaaS) provider, as reported by Moneycontrol. The company serves enterprises and over-the-top (OTT) platforms with comprehensive services including transactional SMS, WhatsApp messaging solutions, voice services, automated voice call solutions, email communication and various digital products.
