An unprovoked attack, in which two students were stomped and kicked, could have been much worse, police say.
Detective Sergeant Rob Hanna said the 19-year-old students were attacked by at least two men on Bath St, near George St, about 3.10am on Friday.
During what appeared to be an unprovoked attack, the students were knocked to the ground, then kicked and stomped around the head area, he said.
Both victims required hospital treatment.
One was in Dunedin Hospital for three days with a broken jaw.
"This was an unprovoked, vicious attack, which could have resulted in far more serious injuries, due to the actions of the offenders."
Det Sgt Hanna said the offenders were described as either Maori or Polynesian in their early 20s.
One was short with short dark hair and wearing a red-coloured chequered shirt and dark pants.
The other male was described as 184cm tall, of solid build and wearing what looked like a light-coloured ski jacket.
Both men were last seen walking along Bath St towards lower Stuart St.
Det Sgt Hanna said police were reviewing CCTV footage and hoped a witness would come forward.
There had been plenty of people on the streets during re-orientation week, he said.
The assault was not gang-related, and appeared to be a random attack.
Anyone with information about the assault should contact Dunedin police on (03) 471-4800 or provide information anonymously on the Crime Stoppers line, 0800 555-111.