Dove Soft Limited IPO Opens Today at ₹104–₹111 Per Share
Dove Soft Limited's IPO opens at ₹104–₹111 per share. Discover details on the ₹73.26 crore issue and the company's AI-driven growth plans.
The cloud communications sector is seeing a new player enter the public markets as Dove Soft Limited, a prominent Communications Platform as a Service (CPaaS) provider, officially launched its Initial Public Offering (IPO) today. The issue is scheduled to remain open for subscription until October 5, 2026.
Investors looking to participate in this offering can bid within a price band of ₹104 to ₹111 per equity share. The total issue size stands at ₹73.26 crore, which includes a fresh issue of 53.28 lakh equity shares worth ₹59.14 crore and an offer for sale of 12.72 lakh equity shares totaling ₹14.12 crore. Upon completion of the process, the company is expected to list on the BSE SME platform.
Strong Financial Trajectory and Growth
Since its inception in 2011, Dove Soft has evolved from a traditional SMS-focused business into a multi-channel communication powerhouse. The company's recent financial performance highlights this rapid scaling:
- Revenue Growth: Operational revenue surged by 46%, climbing to ₹273.98 crore in FY2026 from ₹187.74 crore in FY2025.
- Profitability: Net profit attributable to owners saw a significant jump of approximately 42%, reaching ₹22.89 crore in the same period.
The proceeds from the fresh issue are earmarked to bolster working capital requirements and support general corporate objectives, facilitating the company's next phase of expansion.
The Shift Toward AI and Advanced CPaaS
While Dove Soft currently relies heavily on traditional SMS—which accounts for roughly 90% of its business mix—the company has a clear roadmap to diversify. The strategic goal is to achieve a 50:50 split between traditional SMS and new communication channels by 2029.
To drive this transition, the company is heavily investing in higher-value channels such as RCS, WhatsApp, Voice, and Email. A key pillar of this strategy is their newly launched AI-Native Unified Communication Interface. This platform is designed for enterprise workflow automation, integrating various communication channels through:
- AI-powered automation capabilities.
- Intelligent channel selection.
- Real-time data analytics.
Expanding Global and Enterprise Footprint
With operational hubs in Mumbai, Ahmedabad, Gurugram, and Dubai, Dove Soft serves a diverse clientele ranging from large enterprises to over-the-top (OTT) platforms. By leveraging AI-enabled automation and workflow-driven engagement, the company aims to accelerate the adoption of its sophisticated CPaaS platform across the global enterprise landscape.
Swastika Investmart Ltd. is serving as the Book Running Lead Manager and Market Maker for the issue, while Purva Sharegistry (India) Pvt. Ltd. has been appointed as the Registrar.