Dudani Retail IPO
ListedSMETextiles
1.42×
Subscribed
Price band
₹29 – ₹29
Lot size
4,000
1 lot = ₹1,16,000
Issue size
₹10.54 Cr
Open – close
25 Sept 2026
to 29 Sept 2026
Listing
05 Oct 2026
Listing gain
-13.79%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong3 of 7 dimensions read
The disclosed numbers are strong — 2 of 3 signals read positive
Strength78/100
- Undemanding valuation10.3× earnings at the upper band, with no peer set published to compare against
- Out-earns its peersReturn on net worth of 18.5% against a peer median of 3.4%
- Book coveredThe book is subscribed 1.42× overall
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens25 Sept 2026
- Closes29 Sept 2026
- Allotment30 Sept 2026
- Listing05 Oct 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Non-institutionalNII / HNI0.52x
Retail individualRII2.31x
569 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 29 Sept 2026.
Chance of allotment
Retail2.31× subscribed
~1 in 2.3
Minimum 2 lots · 8,000 shares · ₹2,32,000 blocked
Retail is 2.31× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.3 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.52× subscribed
Full allotment
Minimum 1 lot · 4,000 shares · ₹1,16,000 blocked
The HNI portion is under-subscribed at 0.52×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹3+10.3%
over the upper band · last seen 19 Oct 2026 · flat since 28 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹29 – ₹29
Face value₹10
Lot size4,000shares
Minimum application₹1,16,000at cut-off
Total issue size₹10.54 Cr
Listing atSME platform
Anchor investorsNone
Company & valuation
ROE18.46%
ROCE25.88%
Debt/Equity0.47
RoNW18.46%
PAT Margin7.73%
EBITDA Margin12.07%
NAV15.26
P/B (x)1.90
ISININE1DLN01012
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| NII (HNI) | 17,24,000 | 47.41% |
| Retail | 17,28,000 | 47.52% |
| Market Maker | 1,84,000 | 5.06% |
Total issue 36,36,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,32,0002 lots · 8,000 sh
Individual investors (IND) (Max)₹2,32,0002 lots · 8,000 sh
HNI (Min)₹3,48,0003 lots · 12,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
What the money is for
Stated use of the net proceeds
- 01To meet Working Capital Requirements₹3.97 Cr
- 02Capital Expenditure₹0.79 Cr
- 03Re-payment of Outstanding borrowings₹3 Cr
- 04General Corporate Purposes₹1.5 Cr
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Nandani Creation Limited | 34.64 | 23.70 | 10.00 | 3.35% |
| Purple United Sales Limited | 78.80 | 26.72 | 10.00 | 22.30% |
| Mish Designs Limited | -3.24 | -11.27 | 10.00 | -6.00% |
| Dudani Retail Limitedthis issue | 2.82 | 10.30 | 15.26 | 18.46% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
Litigation
There are no outstanding criminal proceedings filed against the Company. There are no outstanding actions by statutory or regulatory authorities initiated against the Company. There are no disciplinary actions by SEBI or any Stock Exchange initiated against the Company. There are no outstanding material dues to creditors of our Company.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+0.0%
Listed up
3 of 8
Best
+90.0%
Maxwell Engineering Solutions Limited
Worst
-5.9%
Eventions Limited
Vedant Poly Fabs Limitedsame segment
1.9× sub+0.0%
Maxwell Engineering Solutions Limitedsame segment
491.4× sub+90.0%
HGS (India) Limitedsame segment
231.2× sub+33.3%
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Dudani Retail
Dudani Retail is engaged in designing, manufacturing, sourcing and supplying apparel and related products through its own-brand operations, licensed manufacturing arrangements, and supply arrangements with a quick commerce platform. Its own-brand portfolio includes women’s ethnic and fusion wear sold under “Divena,” covering suit sets, kurtas, dresses, tops, tunics, kaftans, co-ord sets, sarees and bottom wear. The company also trades men’s wear under “Millennial Men” and selectively trades personal care and lifestyle products under "Cosse." It manufactures products under licensed arrangements for labels including Kalini, Corsica, Roadster, Anouk Rustic, All About You, Taavi, Navyaazri, Chandbaali, Baesd, ETC, Navibhu and Here & Now. The company operates from rented premises in Kartarpura Industrial Area, Jaipur, Rajasthan, where cutting, stitching, finishing, quality checks, and dispatch are undertaken. Fabric dyeing, printing, embroidery, and other value-added processes are carried out through third-party processors. Its products are sold through e-commerce marketplaces and its own-brand websites.
Founded 2015MD Mr Akshay DudaniSector Textiles
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Dudani Retail IPO GMP today?
The most recent grey-market premium recorded for Dudani Retail is ₹3 per share — about 10.3% over the ₹29 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Dudani Retail IPO subscribed?
Dudani Retail is subscribed 1.42× overall (NII 0.52×, retail 2.31×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What is the minimum investment in the Dudani Retail IPO?
One lot is 4,000 shares, so a retail application at the ₹29 cut-off price blocks ₹1,16,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Dudani Retail IPO?
The retail portion is subscribed 2.31×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Dudani Retail IPO allotment date?
Allotment is scheduled for 2026-09-30, with listing on 2026-10-05. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.