SME IPO Alert: Apparel Company Dudani Retail Opens Rs 10.54 Crore Public Issue

Jaipur-based Dudani Retail is launching its BSE SME IPO at Rs 29 per share, with funds planned for manufacturing expansion, working capital requirements and repayment of borrowings.

The Indian apparel and lifestyle segment is set to see another SME listing as Dudani Retail Limited opens its Initial Public Offering (IPO) on September 25, 2026. The company is looking to raise Rs 10.54 crore through the issue, with shares proposed to be listed on the BSE SME platform.

The IPO will remain open for subscription from September 25 to September 29, 2026. Dudani Retail is offering 36,36,000 equity shares at an issue price of Rs 29 per share, with a face value of Rs 10 per share.

IPO Details At A Glance

The minimum market lot for the issue is 4,000 shares, while retail investors need to apply for at least two lots. The total minimum application size will therefore require investors to subscribe for 8,000 shares at the issue price.

Finshore Management Services Ltd. is the lead manager for the issue, while Maashitla Securities Pvt. Ltd. has been appointed as the registrar.

Where Will Dudani Retail Use IPO Funds?

The company plans to utilise the IPO proceeds across multiple business requirements. Out of the total Rs 10.54 crore raised, Dudani Retail plans to allocate Rs 3 crore towards repayment or prepayment of borrowings. Another Rs 3.97 crore will be used for working capital requirements, which will support day-to-day business operations.

The company will also invest Rs 0.79 crore towards purchasing machinery for expansion and upgrading its existing manufacturing facility. The remaining Rs 1.50 crore will be utilised for general corporate purposes.

What Does Dudani Retail Do?

Dudani Retail is a Jaipur-based apparel and lifestyle company involved in designing, manufacturing, sourcing and supplying apparel products. The company operates through its own brands, licensed manufacturing arrangements with fashion and lifestyle marketplaces, and supply arrangements with a quick commerce platform.

Its brand portfolio includes Divena, focused on women’s ethnic and fusion wear, and Millennial Men, which caters to men’s wear. The company operates a manufacturing facility in Jaipur, Rajasthan, and sells products through online platforms including Myntra, Amazon, Flipkart, Ajio, Nykaa Fashion, Tata Cliq, Snapdeal and its own brand websites.

Financial Performance Shows Steady Growth

Dudani Retail has reported steady revenue growth over the last three financial years. In FY2024, the company recorded total revenue of Rs 25.13 crore and profit after Tax of Rs 99.38 lakh. Revenue increased marginally to Rs 25.29 crore in FY2025, while profit after tax rose to Rs 177.92 lakh.

In FY2026, revenue stood at Rs 24.59 crore, while profit after tax increased to Rs 190.13 lakh. The company reported a PAT margin of around 7.73 per cent in FY2026.

Growth Plans Focus On Manufacturing And Brand Expansion

The company’s Managing Director, Akshay Dudani, said the IPO would support manufacturing facility expansion, working capital requirements and reduction of borrowings while helping strengthen its position in the apparel market.

With increasing adoption of online shopping and demand for ethnic and fusion wear, the company aims to expand through its multi-channel distribution network, in-house manufacturing capabilities and brand portfolio.

The IPO will be closely tracked by investors looking at SME listings, particularly given the company’s focus on apparel manufacturing, online distribution and brand building.

Disclaimer: The article is for informational purposes only and not investment advice.