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Dudani Retail Ltd

Dudani Retail Ltd
DUDANI Dudani Retail Ltd

BSE IPO

Bidding dates25 Sep 2026 - 29 Sep 2026

Price range₹29 - ₹29

Min. investment₹2,32,000

Issue size10.56 Cr

Lot size4000 Shares

IPO DocRHP

IPO Timeline

Start date

25 Sep 2026

End date

29 Sep 2026

Allotment date

30 Sep 2026

Refund initiation

01 Oct 2026

Share credit

01 Oct 2026

Deactivate mandate

05 Oct 2026

About company

Incorporated in December 2015, Dudani Retail Limited is an apparel and lifestyle company engaged in the designing, manufacturing, sourcing and supply of apparel and related products through own-brand operations, licensed manufacturing arrangements with Fashion & Lifestyle marketplaces and a supply arrangement with a Quick-Commerce Platform. The Company’s own-brand business primarily focuses on women’s ethnic and fusion wear sold under the brand “Divena”, including suit sets, kurtas, dresses, tops, tunics, kaftans, co-ord sets, sarees and bottom wear. These products are designed and manufactured through a combination of in-house production and outsourced value-added processes. The Company also trades in men’s wear under “Millennial Men”, where finished goods are sourced from external suppliers and sold through online channels. It selectively trades in personal care and lifestyle products under “Cosse” based on sourcing opportunities and demand patterns.

In addition to its own-brand operations, the Company undertakes licensed manufacturing for Fashion & Lifestyle marketplaces, producing apparel against orders and according to specified design briefs, brand requirements and quality standards. The labels covered under these arrangements include Kalini, Corsica, Roadster, Anouk Rustic, All about you, Taavi, Navyaazri, Chandbaali, Baesd, ETC, Navibhu and Here & Now. The Company’s role is limited to manufacturing and supplying products on a just-in-time basis, while the intellectual property rights in these labels remain with the respective licensors.

The Company also supplies products to a Quick-Commerce Platform under a sell-or-return arrangement, where goods are delivered to designated hubs and payments are made periodically based on actual sales to end customers, after applicable margins. Its manufacturing facility in Jaipur, Rajasthan undertakes key processes including cutting, stitching, finishing, quality checks and dispatch, while fabric dyeing, printing, embroidery and other value-added processes are carried out through third-party processors.

The Company follows an integrated workflow covering design development, fabric and material procurement, sampling, manufacturing, outsourced processing, finishing and dispatch. Its products are distributed through multiple e-commerce marketplaces, including Myntra, Amazon, Flipkart, Ajio, Nykaa Fashion, Tata Cliq and Snapdeal, as well as through its own brand websites.

As on August 31, 2026, the Company had 33 permanent employees, including directors, supported by 35 temporary personnel primarily engaged in stitching and pressing activities.

Founded in 2015

Managing director Akshay Dudani

Parent organisation Dudani Retail IPO

Strengths and Risks

Strengths

The company retails its own-brand apparel (such as women's ethnic and fusion wear under the Divena brand and men's wear under Millennial Men) across major e-commerce marketplaces like Myntra, Amazon, Flipkart, Ajio, and Nykaa Fashion, in addition to quick-commerce supply arrangements.

The company manages an in-house setup for key stages like design development, pattern making, cutting, finishing, quality checking, and dispatch, ensuring better control over design-to-delivery timelines.

A portion of the IPO funds is earmarked to repay or prepay certain outstanding borrowings, which will help lower leverage and strengthen the balance sheet.

Risks

Revenue growth has been largely flat over recent fiscal periods, indicating limited top-line expansion momentum despite improved profit margins.

The company exhibits high dependency on a small group of counterparties. A significant chunk of revenue can be tied to a top customer or marketplace partner, and a major portion of raw material sourcing relies on a limited set of suppliers.

Operating without physical retail storefronts, Dudani Retail is vulnerable to algorithm shifts, policy changes, commission adjustments, or traffic fluctuations on third-party online platforms.

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