BSE SME Dudani Retail makes its market debut with gains
Dudani Retail's IPO was subscribed 1.40 times. The issue opened for subscription on 25 September 2026 and closed on 29 September 2026. The issue comprised a fresh issue of 36.36 lakh equity shares. The issue was priced at Rs 29 per share.
Promoters Akshay Dudani and Charu Dudani held 100% of the company before the issue. Their combined shareholding declined to 64.99% after the IPO.
Dudani Retail plans to use Rs 0.79 crore of the net proceeds for purchasing machinery and expanding and upgrading its existing manufacturing facility. It plans to use Rs 3 crore for repayment or pre-payment of certain borrowings and Rs 3.97 crore for working capital requirements. Another Rs 1.50 crore is earmarked for strategic initiatives, partnerships, joint ventures and acquisitions, brand building, marketing and general corporate purposes. Issue expenses are estimated at Rs 1.29 crore.
Incorporated in December 2015, Dudani Retail is an apparel and lifestyle company engaged in designing, manufacturing, sourcing and supplying apparel and related products. Its own-brand business primarily focuses on women's ethnic and fusion wear under the Divena brand. It also trades in men's wear under Millennial Men and selectively trades in personal care and lifestyle products under Cosse.
The company also undertakes licensed manufacturing for fashion and lifestyle marketplaces. Its manufacturing facility in Jaipur handles cutting, stitching, finishing, quality checks and dispatch, while dyeing, printing, embroidery and other value-added processes are outsourced to third-party processors.
As of 31 August 2026, the company had 33 permanent employees and 35 temporary personnel, primarily engaged in stitching and pressing activities.
For FY2026, Dudani Retail reported total income of Rs 24.59 crore, down 2.77% YoY from Rs 25.29 crore in FY2025. PAT stood at Rs 1.90 crore, up 6.74% YoY from Rs 1.78 crore. EBITDA was Rs 2.97 crore, up 3.85% YoY from Rs 2.86 crore. Total borrowings stood at Rs 4.82 crore as of 31 March 2026.
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