SME
IPO ·
BSE SME
Dudani Retail Ltd
Listed
Apparel company making women's ethnic and fusion wear under its own brand and for online marketplaces.
Issue details
Price band
₹29
Face value
₹10
Lot size
4,000 shares
Minimum investment
₹2,32,000
Issue size
₹11 Cr
Fresh issue
₹10 Cr
Offer for sale
—
Issue type
Fixed Price
Exchange
BSE SME
Key dates
Opens
25 Sep 2026
Closes
29 Sep 2026
UPI mandate cut-off
5:00 PM on 29 Sep 2026
Allotment
30 Sep 2026
Refunds
1 Oct 2026
Shares in demat
1 Oct 2026
Listing
5 Oct 2026
Subscription and listing
Subscription
1.42x
Listing price
₹25
Registrar
Maashitla Securities Pvt Ltd
Lead manager
Finshore Management Services Ltd
Subscription by category
NII *
0.52x
Individual Investor
2.31x
Total
1.42x
Total applications
569
Listing day
Issue price
₹29
Open
₹25.00
High
₹25.00
Low
₹25.00
Day close
₹25.00
Listing gain at open
-13.79%
Issue structure
Shares reserved per category and share of the total issue
NII
17,24,000
47.41%
Retail
17,28,000
47.52%
Market Maker
1,84,000
5.06%
Total
36,36,000
100.00%
Finaccle’s quick read
Neutral
PAT up 7% in FY26 with ROE of 18.46%, D/E of 0.47 and post-issue P/E of 15.85, but revenue has been flat at about ₹25 Cr for three years.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Dudani Retail is a Jaipur-based apparel and lifestyle company that designs and makes women's ethnic and fusion wear under the 'Divena' brand, sources men's wear under 'Millennial Men' and sells personal care products under 'Cosse'. It sells mainly through online marketplaces such as Myntra, Amazon, Flipkart and Ajio, and also does licensed manufacturing and supplies a quick-commerce platform. It is a small business with FY26 total income of about ₹25 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
18.46%
ROCE
25.88%
Debt / equity
0.47
PAT margin
7.73%
P/E post issue
15.85
Market cap
₹25.98 Cr
Use of IPO money
Capex for machinery
₹0.79 Cr
Repayment of borrowings
₹3.00 Cr
Working capital
₹3.97 Cr
Strategic initiatives, brand building and general corporate purposes
₹1.50 Cr
Issue expenses
₹1.29 Cr
Strengths
✓
Own women's wear brands with in-house manufacturing
✓
Sells across all major fashion marketplaces
✓
Asset-light model for men's wear
✓
Entirely fresh issue with moderate debt
Risks to watch
!
Revenue flat at about ₹25 Cr for three years
!
Very small business with a tiny issue size
!
Heavy dependence on third-party online marketplaces
!
Sell-or-return terms with the quick-commerce platform
!
Rising borrowings and working capital needs
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.