{
  "id": 12318426,
  "title": "Dove Soft IPO Subscribed 1.36 Times, NII Demand Leads ₹73.26 Crore Issue",
  "url": "https://urgent.news/2026/10/06/dove-soft-ipo-subscribed-1-36-times-nii-demand-leads-73-26-crore-issue",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T05:51:41.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/dove-soft-ipo-subscribed-136-times-nii-demand-leads-7326-crore-issue"
  },
  "original_language": "en",
  "account": "Mumbai: Dove Soft Limited's initial public offering of ₹73.26 crore concluded on October 5, 2026, with a subscription rate of 1.36 times, as reported by the company. Investors placed bids for 89,62,800 equity shares, surpassing the 66,00,000 shares available for sale. The total value of bids amounted to ₹99.49 crore. Non-institutional investors drove demand, subscribing 1.96 times their allotted shares. Qualified institutional buyers received full subscription, while individual investors subscribed at 0.81 times. The IPO commenced on September 30, with a price range of ₹104–₹111 per share, featuring a fresh issuance of 53.28 lakh shares worth ₹59.14 crore and an offer for sale of 12.72 lakh shares valued at ₹14.12 crore. Dove Soft intends to list its shares on the BSE SME platform, with proceeds from the fresh issue earmarked for working capital needs and general corporate purposes. Swastika Investmart serves as the book running lead manager and market maker, while Purva Sharegistry (India) acts as the registrar. The company disclosed a revenue of ₹273.98 crore in FY2026, marking a 46% increase from ₹187.74 crore in FY2025. Profits attributable to shareholders rose approximately 42% to ₹22.89 crore. Dove Soft's CEO, Muktesh Narula, emphasized that the successful IPO marks a significant milestone for the organization, as the funding will bolster business requirements and strengthen capabilities in enterprise solutions and advanced communication channels. Established in 2011, Dove Soft has evolved beyond conventional SMS offerings into Communications Platform as a Service, encompassing RCS, WhatsApp, voice, email, and digital services. Its AI-driven unified communication platform integrates various channels with workflow automation, intelligent channel selection, and real-time analytics. The company aims to balance its business mix, targeting an equal split between traditional SMS and newer channels by 2029. Based in Mumbai, Ahmedabad, Gurugram, and Dubai, Dove Soft caters to enterprises and OTT platforms, striving for increased contributions from RCS, voice, and AI-powered communication solutions.",
  "summary": "Mumbai: Cloud communications provider Dove Soft Limited’s ₹73.26 crore initial public offering closed on October 5, 2026, with a subscription of 1.36 times, according to the company. Investors bid for 89,62,800 equity shares against 66,00,000 shares offered. The value of bids stood at ₹99.49 crore. Non-institutional investors led demand, subscribing 1.96 times their allocation. The qualified…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}