- Summary
- The Dudani Retail IPO is a fixed-price SME IPO, scheduled to open on 25 September 2026 and close on 29 September 2026.
- The tentative listing of the IPO shares is fixed on 5 October 2026 on the BSE SME platform.
- The price of the share is fixed at ₹29 per share, with a minimum application of 2 lots (8,000 shares).
Dudani Retail IPO is a fixed-price SME IPO of 36.36 lakh equity shares aggregating to ₹10.54 crore. The issue opened on 25 September 2026 and will close on 29 September 2026. The company has fixed the issue price at ₹29 per share, with a minimum application of 2 lots or 8,000 shares, requiring an investment of ₹2.32 lakh. The IPO is proposed to be listed on the BSE SME platform, with the tentative listing date set for 5 October 2026. The issue consists entirely of a fresh issue, with no offer-for-sale component.
Dudani Retail IPO Key Details
The table below presents the essential details investors should know before applying for the Dudani Retail IPO.
| IPO Open Date | 25 September 2026 |
| Close Date | 29 September 2026 |
| Face value | ₹10 per share |
| Issue Price | ₹29 per share |
| IPO Lot Size | 4,000 shares |
| Fresh issue | 36,36,000 shares |
| Offer for Sale | _ |
| Type of issue | Fixed-price |
| Listing at | BSE SME |
| Total Issue Size (₹ Crore) | ₹10.54 crores |
| Minimum Investment | 2 lots (8,000 shares) |
Dudani Retail IPO Timeline
Below is the complete schedule of events for the Dudani Retail IPO.
| Bid Opening | 25 September 2026 |
| Bid Closing | 29 September 2026 |
| Tentative Allotment | 30 September 2026 |
| Initiation of Refunds | 1 October 2026 |
| Credit of Shares to Demat | 1 October 2026 |
| Tentative Listing Date | 5 October 2026 |
| UPI mandate closing date | 29 September 2026 |
Key Performance Indicators of Dudani Retail IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 20.34 | 23.70 | 16.24 |
| ROCE (%) | 25.88 | 31.60 | 23.91 |
| Net Debt Equity (in times) | 0.47 | 0.48 | 0.53 |
| RoNW (%) | 18.46 | 21.19 | 15.02 |
| PAT Margin (%) | 7.73 | 7.04 | 3.96 |
| EBITDA margin (%) | 12.07 | 11.33 | 7.20 |
| Price to book | 1.90 | _ | _ |
Dudani Retail IPO Financial Details
The Financial information of the Dudani Retail IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Total Income | 24.59 | 25.29 | 25.13 |
| Total Asset | 17.01 | 14.28 | 10.59 |
| Profit | 1.90 | 1.78 | 0.99 |
(Amount in ₹ Crores)
Dudani Retail IPO Subscription Status
The subscription data of the Dudani Retail IPO has been given below.
| Date | NII* | Individual Investors | Total |
|---|---|---|---|
| Sep 25 (Day 1) | 0.01 | 0.16 | 0.08 |
| Sep 28 (Day 2) | 0.06 | 0.46 | 0.26 |
Dudani Retail IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Dudani Retail IPO shows a GMP of ₹3 with an estimated listing price of ₹32.
| GMP Date | GMP | Est. Listing Price on upper price-₹29.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 14:02 Sub: 0.23x | ₹3 (10.34%) ─ | ₹32 | ₹12,000 | Stable |
| 27-Sep 23:37 | ₹3 (10.34%) ─ | ₹32 | ₹12,000 | Stable |
| 26-Sep 23:37 | ₹3 (10.34%) ─ | ₹32 | ₹12,000 | Stable |
| 25-Sep 23:37 Sub: 0.08x O | ₹3 (10.34%) ─ | ₹32 | ₹12,000 | Stable |
| 24-Sep 23:37 | ₹3 (10.34%) ─ | ₹32 | ₹12,000 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Dudani Retail IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares | % of Net Issue | % of Total Issue |
| Market Maker | 1,84,000 | 5.06 | |
| NIIs | 17,24,000 | 49.94 | 47.41 |
| Retails | 17,28,000 | 50.06 | 47.52 |
| Total | 36,36,000 | 100% | 100% |
Dudani Retail IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ |
| Individual Investor (Min) | 2 | 8,000 | 2,32,000 |
| Individual Investor (Max) | 2 | 8,000 | 2,32,000 |
| sHNI (Min) | 3 | 12,000 | 3,48,000 |
Dudani Retail IPO Prospectus
Investors can access the offered prospectus for the Dudani Retail IPO mentioned below.
About Dudani Retail Ltd.
Dudani Retail Limited is an apparel and lifestyle company based in Jaipur, Rajasthan. Incorporated as Dudani Retail Private Limited in December 2015, the company was converted into a public limited company in March 2025. It designs, manufactures, sources and supplies apparel through its own brands, licensed manufacturing arrangements with fashion and lifestyle marketplace companies, and a sales-linked supply arrangement with a quick-commerce company.
The company’s own-brand portfolio includes women’s ethnic and fusion wear under Divena and men’s apparel under Millennial Men. Its women’s wear range includes suit sets, kurtas, dresses, tops and tunics, nightwear, lehengas and other apparel. The company also undertakes licensed manufacturing for labels such as Roadster, Anouk, Rustic, All About You and Taavi under arrangements disclosed in its draft prospectus. It sells its own-brand products through online marketplaces such as Myntra, Amazon, Flipkart, Ajio and Nykaa Fashion, along with its own websites.
Promoters:
- Akshay Dudani
- Charu Dudani
| Book Runner | Finshore Management Services Ltd. |
| Issue Registrar | Maashitla Securities Pvt. Ltd. |
Purpose of Dudani Retail IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Crores |
| For prepayment or repayment of outstanding borrowings | 3.00 |
| For capital expenditure requirements for expansion | 0.79 |
| For working capital requirements | 3.97 |
| For future acquisitions and strengthening, marketing activities, etc. and general corporate purposes | 1.50 |
| Issue expenses | 1.29 |
| Total | – |
Dudani Retail Ltd.- Strengths and benefits
- Well-established Business: The company has entered into licensed manufacturing arrangements with fashion and lifestyle marketplace companies. These agreements provide manufacturing opportunities based on just-in-time orders.
- In-house manufacturing: The company carries out key activities such as cutting, stitching, finishing and quality checks internally, while using third-party processors for specialised activities such as dyeing, printing and embroidery.
- Multiple business verticals: Dudani Retail operates through own-brand manufacturing, men’s wear trading, licensed manufacturing and a quick-commerce supply arrangement. This gives the company exposure to different revenue channels.
Dudani Retail Ltd- Risks and limitations
- Inventory risk: Its quick-commerce arrangement operates on a sell-or-return basis. Higher product returns, rejection of goods, slower sales or changes in settlement terms could affect revenue and cash flows.
- Online market dependence: It does not operate physical retail stores and depends mainly on online platforms for customer acquisition and sales. Changes in platform visibility, policies or online demand could affect its business.
- Competitive market: The company operates in a highly competitive industry with online marketplaces, physical retailers and direct-to-consumer brands competing for customers. Changes in fashion trends and consumer preferences can also affect demand.
Dudani Retail IPO Review
Dudani Retail IPO is a ₹10.54 crore fixed-price SME issue comprising 36,36,000 fresh equity shares of ₹10 face value each at an issue price of ₹29 per share. The IPO is open from 25 September to 29 September 2026, while the tentative allotment date is 30 September and the shares are scheduled to be credited on 1 October 2026. The tentative listing date is 5 October 2026 on BSE SME. The lot size is 4,000 shares, but retail investors need to apply for a minimum of 2 lots or 8,000 shares, amounting to ₹2.32 lakh. The issue includes 1,84,000 shares reserved for the market maker, while the remaining net issue is divided between retail investors and NIIs.
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Dudani Retail IPO FAQs
Dudani Retail IPO is a fixed-price SME IPO of Dudani Retail Limited. The company is issuing 36.36 lakh fresh equity shares at ₹29 per share, aggregating to ₹10.54 crore. The issue is proposed to be listed on the BSE SME platform.
Investors can apply for the Dudani Retail IPO through the ASBA process using their bank account. Retail investors can also apply through UPI by providing their UPI ID linked to their bank account. Investors should check the IPO application facility available through their registered broker or bank.
The company operates across own-brand apparel, licensed manufacturing, trading and quick-commerce supply, but it also faces customer concentration, supplier dependence, online-channel dependence and competition in the apparel industry. Investors should consider these factors along with the company’s financials, issue valuation and risk factors before making an investment decision.
The Dudani Retail IPO opens for subscription on 25 September 2026 and closes on 29 September 2026.
The lot size is 4,000 shares. Retail investors have to apply for a minimum of 2 lots, or 8,000 shares. At the issue price of ₹29 per share, the minimum retail application amount is ₹2.32 lakh.
The tentative allotment date for the Dudani Retail IPO is 30 September 2026.
The tentative listing date for the Dudani Retail IPO is 5 October 2026. The shares are proposed to be listed on the BSE SME platform.
