Dudani Retail Shares List at 13.79% Discount at ₹25 on BSE SME

Dudani Retail shares made their stock market debut on October 5, 2026, listing at ₹25 per share on BSE SME, compared with the IPO issue price of ₹29 per share. The listing represented a discount of 13.79%.

Following the listing, Dudani Retail shares continued to trade at ₹25 as of the verified morning snapshot, unchanged from the listing price and 13.79% below the IPO issue price. Trading volume stood at 3,44,000 shares.

The listing followed the company’s IPO, which was open from September 25 to September 29, 2026. The ₹10.54 crore fixed-price SME issue received 1.42 times subscription overall.

Dudani Retail operates in the fashion and lifestyle segment and is engaged in designing, manufacturing, sourcing and supplying apparel, alongside trading in personal-care products.

Dudani Retail IPO Listing Details

Dudani Retail IPO was a ₹10.54 crore fixed-price SME issue consisting entirely of a fresh issue of 36,36,000 equity shares.

The issue did not contain an offer-for-sale component. Of the total issue, 1,84,000 shares were reserved for the market maker, while the remaining shares formed the net issue.

The IPO opened on September 25 and closed on September 29, 2026. Shares were offered at a fixed issue price of ₹29 each.

The issue was subscribed 1.42 times overall. Individual Investors subscribed 2.31 times, while the NII and other-investor portion was subscribed 0.52 times.

Dudani Retail listed at ₹25 on BSE SME, a 13.79% discount to its ₹29 issue price.

• Issue Price: ₹29 per share

• BSE SME Listing Price: ₹25 per share

• Listing Discount: 13.79%

• Trading Price: ₹25 per share

• Change From Issue Price: -13.79%

• Volume: 3,44,000 shares

• Overall Subscription: 1.42 times

• Fresh Issue: ₹10.54 crore

• Offer for Sale: Nil

• IPO Open Date: September 25, 2026

• IPO Close Date: September 29, 2026

• Listing Date: October 5, 2026

• Exchange: BSE SME

First-Day Trading Performance

Listing Price: Dudani Retail listed at ₹25 per share against the fixed IPO price of ₹29, representing a listing discount of 13.79%.

Post-listing price: The stock remained at ₹25 in the verified morning snapshot, leaving it unchanged from the listing price and 13.79% below the issue price.

Volume: Trading volume stood at 3,44,000 shares at the time of the market snapshot.

Subscription context: The IPO received overall subscription of 1.42 times, led by the Individual Investor category at 2.31 times.

Growth Drivers and Challenges

Growth Drivers

Fashion Portfolio: Dudani Retail designs, manufactures and sources apparel across multiple categories for women and men.

Online Distribution: Its products are available through major e-commerce platforms in addition to its own brand channels.

Manufacturing Expansion: Part of the IPO proceeds is earmarked for machinery to expand and upgrade existing manufacturing capacity.

Brand Development: The company intends to deploy capital towards strategic initiatives and promotional and marketing activities.

Consumer Market Exposure: Its apparel and personal-care portfolio gives the company exposure to discretionary consumer spending.

Challenges

Fashion Demand Cycles: Apparel demand can change quickly with consumer preferences and seasonal trends.

Marketplace Dependence: Sales through third-party e-commerce platforms expose the company to platform policies and competitive listings.

Inventory Risk: Fashion businesses face the risk of unsold or slow-moving inventory.

Competitive Market: The apparel industry includes established national brands, regional players and online-first businesses.

Working-Capital Requirements: Inventory procurement and production require continuing working-capital deployment.

Utilisation of IPO Proceeds

The ₹10.54 crore Dudani Retail IPO was entirely a fresh issue.

The company proposes to use approximately ₹0.79 crore for capital expenditure towards machinery for expansion and upgradation of its existing manufacturing facility.

Approximately ₹3 crore is intended for repayment or prepayment of borrowings, while around ₹3.97 crore is earmarked for working-capital requirements. A further amount is intended for strategic initiatives, brand building and general corporate purposes.

Principal uses include:

• ₹0.79 crore towards machinery and manufacturing-facility upgrades

• ₹3 crore towards repayment or prepayment of borrowings

• ₹3.97 crore towards working-capital requirements

• Strategic initiatives and brand-building activities

• General corporate purposes

Business and IPO Overview

Dudani Retail Limited operates in the fashion and lifestyle segment, covering apparel design, sourcing, manufacturing and distribution.

The company supplies apparel for women and men and also trades personal-care products. Its products are sold through e-commerce marketplaces and its own brand channels.

The business follows a process spanning design, fabric and material sourcing, sampling, manufacturing, outsourced processing, finishing and distribution.

The ₹10.54 crore IPO consisted entirely of a fresh issue of 36.36 lakh shares at ₹29 per share.

The public issue was subscribed 1.42 times overall, with Individual Investors subscribing 2.31 times.

Dudani Retail listed at ₹25 on BSE SME on October 5 and continued to trade at the same level in the morning session.