Dudani Retail IPO
Updated 22 Sept 2026, 1:50 pm.
Minimum investment (Individual investors (IND))
₹2,32,000
2 lots · 8,000 shares at the upper price band
Price band
₹29
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹10.01 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹29
- Issue size
- ₹10.01 Cr
- Lot size
- 4,000
- Opens
- 25 Sept 2026
- Closes
- 29 Sept 2026
- Allotment
- 30 Sept 2026
- Listing
- 5 Oct 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Maashitla Securities Pvt.Ltd.
- Minimum investment
- ₹2,32,000 (2 lots · 8,000 shares)
- Face value
- ₹10 per share
- Issue type
- Fixed Price IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 1 Oct 2026
- Shares credited
- 1 Oct 2026
- Promoter holding
- 100% before · 64.99% after
- Lead managers
- Finshore Management Services Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 22 Sept 2026, 9:05 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 25 to 29 Sep, 2026 |
|---|---|
| Listing Date | Mon, Oct 5, 2026 T |
| Face Value | ₹ 10 per share |
| Issue Price | ₹29 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 36,36,000 shares (agg. up to ₹ 11 Cr) |
|---|---|
| Reserved for Market Maker | 1,84,000 shares (agg. up to ₹ 0.5336 Cr) |
| Fresh Issue (Ex Market Maker) | 34,52,000 shares (agg. up to ₹ 10 Cr) |
| Net Offered to Public | 34,52,000 shares (agg. up to ₹ 10 Cr) |
| Share Holding Pre Issue | 67,50,000 shares |
| Share Holding Post Issue | 1,03,86,000 shares |
IPO Timetable (Tentative)
- IPO Open
- Fri, Sep 25, 2026
- IPO Close
- Tue, Sep 29, 2026
- Allotment
- Wed, Sep 30, 2026
- Refund
- Thu, Oct 1, 2026
- Credit of Shares
- Thu, Oct 1, 2026
- Listing
- Mon, Oct 5, 2026
Issue Reservation
- NII (HNI)47.41%
- Retail47.52%
- Market Maker5.06%
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) | 17,24,000 | 49.94% | 47.41% |
| Retail | 17,28,000 | 50.06% | 47.52% |
| Firm Reservations | |||
| Market Maker | 1,84,000 | — | 5.06% |
| Total | 36,36,000 | 100.00% | 100.00% |
Dudani Retail IPO comprises a total issue size of 36,36,000 shares. The net offer to the public is 34,52,000 shares, after excluding 1,84,000 shares allotted on a firm basis. Of the Net offer 17,24,000 (49.94%) allocated to NII 17,28,000 (50.06%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 8000 | ₹2,32,000 |
| Individual investors (IND) (Max) | 2 | 8000 | ₹2,32,000 |
| HNI (Min) | 3 | 12000 | ₹3,48,000 |
Investors can bid for a minimum of 8,000 shares and in multiples of 4,000 shares thereof.
IPO Subscription Details
About Dudani Retail Ltd.
Incorporated in December 2015, Dudani Retail Limited is engaged in designs, manufactures, sources, and supplies apparel and related products. It operates through own-brand, licensed manufacturing with Fashion & Lifestyle marketplaces, and a supply arrangement with a quick commerce platform.
The company's activities include manufacturing women's ethnic and fusion wear, trading men's wear, and fulfilling JIT orders for licensed labels through agreements with Fashion & Lifestyle marketplaces. It operates from rented premises at F-93, 4th Floor, Kartarpura Industrial Area, Jaipur, Rajasthan, where key processes like cutting, stitching, finishing, quality checks, and dispatch are done. Fabric dyeing, printing, embroidery, and related operations are handled by third-party processors.
The company manufactures products under licensed arrangements with a Fashion & Lifestyle Marketplace/e-commerce. The labels covered under these arrangements include Kalini, Corsica, Roadster, Anouk Rustic, All about you, Taavi, Navyaazri, Chandbaali, Baesd, ETC, Navibhu, Here & Now.
The company supplies products to a Quick-Commerce Platform, where goods are delivered to hubs on a sell-or-return basis. Title transfers to Quick-Commerce upon acceptance, with payments made periodically based on actual sales after margins.
The company's products are sold via multiple e-commerce marketplaces like Myntra, Amazon, Flipkart, Ajio, Nykaa Fashion, and through our website.
As of February 28, 2026, the Company had 35 employees, including directors.
Competitive Strength:
Presence across multiple operating verticals.
Established working relationships with Fashion & Lifestyle Companies through licensed manufacturing arrangements.
In-house manufacturing capability for women's wear supported by outsourced processors.
Asset-light approach in men's wear and selective trading categories.
Defined operational framework under the supply arrangement with a Quick-Commerce Company.
Multi-channel distribution for own-brand products.
Experience in handling marketplace-driven operations.
Integrated workflow from design development to dispatch.
Established supplier network for fabrics, trims and finished goods.
Company Financials (Restated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 16.21 | 14.28 | 10.59 | 11.96 |
| Total Income | 13.90 | 25.29 | 25.13 | 24.18 |
| Profit After Tax | 1.05 | 1.78 | 0.99 | 0.64 |
| EBITDA | 1.60 | 2.86 | 1.81 | 1.27 |
| NET Worth | 9.45 | 8.40 | 6.62 | 5.62 |
| Reserves and Surplus | 2.70 | 1.65 | 4.62 | 3.62 |
| Total Borrowing | 3.95 | 4.03 | 3.53 | 3.51 |
| Amount in ₹ Crore |
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure towards purchase of machinery for expansion and upgradation of existing manufacturing facility | 0.79 |
| 2 | Repayment and / or pre-payment, in full or in part, of certain outstanding borrowings availed by the company. | 3.00 |
| 3 | To meet Working Capital Requirements | 3.97 |
| 4 | To be utilized towards Strategic initiatives, partnerships, joint ventures and acquisitions; Brand building and strengthening of promotional, marketing activities and advisory; On-going general corporate exigencies or any other purposes as approved by the Board subject to compliance with the necessary regulatory provisions etc. | 1.50 |
| Total | 9.26 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
ROCE
RoNW
PAT Margin
EBITDA Margin
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | — | 21.19% |
| ROCE | 15.85% | 31.60% |
| Debt/Equity | 0.42 | 0.48 |
| RoNW | 11.13% | 21.19% |
| PAT Margin | 7.56% | 7.04% |
| EBITDA Margin | 11.48% | 11.33% |
| NAV | — | 12.44 |
| Price to Book Value | — | 2.33 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 2.64 | 2.02 |
| P/E (x) | 10.98 | 14.36 |
| Market Cap at Offer Price | ₹19.57 Cr. | ₹30.12 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group100%
Post IPO
- Promoter and Promoter Group64.99%
- Public35.01%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 64.99% |
| Public | — | 35.01% |
| Total | 100% | 100% |
Company Promoters: Akshay Dudani and Charu Dudani.
Dudani Retail IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Maashitla Securities Pvt.Ltd.
011-45121795
investor.ipo@maashitla.com
IPO Lead Manager(s)
Finshore Management Services Ltd.
Contact Details
Dudani Retail Ltd. Address
F-93, 3rd Floor,
Kartarpura Industrial Area,
Station Road
Jaipur, Rajasthan , 302006
+91 8690532399
cs@dudaniretail.com
Dudani Retail IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
No coverage found yet.
Dudani Retail: common questions
Answered from this issue's own record.
