Overview
Updated 12 days agoDudani Retail Limited is a fashion and lifestyle company based in Jaipur, Rajasthan, specializing in the design, manufacturing, and sale of apparel under the brands 'Divena' and 'Millennial Men'. The company is launching an initial public offering of up to 36,36,000 equity shares at a fixed price of ₹29 per share to raise funds for capital expenditure, repayment of borrowings, and working capital.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 4,000 | ₹1,16,000 |
| bNII (min) | 9 | 36,000 | ₹10,44,000 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE |
| Segment | SME |
| Sector | Textile |
| Price band | ₹29 |
| Final issue price | ₹29.00 |
| Face value | ₹10 per share |
| Lot size | 4,000 shares |
| Minimum investment | ₹1,16,000 |
| Issue size | ₹11.00 Cr |
| Fresh issue | ₹10.54 Cr |
| Market cap at upper band | ₹30.12 Cr |
| P/E at upper band | 11.0x |
| Registrar | MAASHITLA SECURITIES PRIVATE LIMITED |
| Lead managers | Finshore Management Services Limited |
| NSE symbol | DUDANI |
| ISIN | INE1DLN01012 |
Fresh issue vs offer for sale
Shareholder quota and promoter holding
Company & business
Dudani Retail Limited, established in 2015, is a fashion and lifestyle company headquartered in Jaipur, Rajasthan. The company designs, manufactures, and sells a wide range of apparel for women under the brand 'Divena' and men's fashion under the 'Millennial Men' brand. It also engages in the trading of personal care products under the 'Cosse' brand. The company operates through a multi-channel approach, utilizing e-commerce platforms and its own websites, and maintains a hybrid manufacturing model that combines in-house production with outsourced value-added processes. The company is led by promoters Mr. Akshay Dudani and Mrs. Charu Dudani.
Objects of the issue — how the money will be used
- Capital Expenditure (₹0.79 Cr)
- Re-payment of Outstanding borrowings (₹3 Cr)
- Working Capital (₹3.97 Cr)
- General Corporate Purpose (₹1.5 Cr)
- Issue related expenses (₹1.29 Cr)
Key strengths
- Presence across multiple operating verticals including own-brand, trading, and licensed manufacturing.
- Established contractual arrangements with Fashion & Lifestyle Marketplace companies.
- In-house manufacturing capability for women’s wear.
- Access to third-party processors for value-addition.
- Structured operational arrangement with a Quick-Commerce company.
- Multi-channel distribution through major online marketplaces and own brand websites.
- Established supplier network across textile hubs.
- Experience in handling marketplace-driven fulfilment requirements.
Key risks
- Concentration of business on apparel products and vulnerability to demand variations.
- Inability to identify consumer demand accurately and maintain optimal inventory.
- Dependency on key brands and failure to maintain or grow sales.
- High competition in the fashion and retail industry.
- Reliance on third-party outsourcing without exclusivity arrangements.
- Dependence on online channels with no physical retail stores.
- Inaccuracies in statutory filings and past delays in regulatory filings.
- Geographical concentration of sales in certain regions.
Promoters
Mr. Akshay Dudani, Mrs. Charu Dudani
Decoded from the DRHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY23 | 24.18 | -- | 0.64 | 11.96 | 5.62 | 3.51 |
| FY24 | 25.12 | -- | 0.99 | 10.59 | 6.62 | 3.53 |
| FY25 | 25.28 | -- | 1.78 | 14.28 | 8.40 | 4.03 |
| H1 FY26 | 13.90 | -- | 1.05 | 16.21 | 9.45 | 3.95 |
Key performance indicators · FY25
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Dudani Retail this issue | 25.3 | 2.64 | 11.0x | 21.19 | 12.44 |
| Nandani Creation Limited (Consolidated) | 69.6 | 2.41 | 11.6 | 7.10 | 27.38 |
| Purple United Sales Limited | 103.1 | 13.59 | 19.9 | 17.30 | 62.99 |
| Mish Designs Limited | 18.0 | 3.03 | 12.0 | 4.97 | 56.30 |
This issue is priced at 11.0x P/E against a peer median of 12.0x: a discount of 9%. A measurement, not a verdict.
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Panchatv BharatPANCHATV · BSE · SME · Textile−12.5%18 Sep Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.