Dhara Rail Projects is entering the public markets through SME IPO with an issue size of ₹50.20 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on NSE & SME.
The IPO subscription window opens on December 23, 2025 and will remain open until December 26, 2025. The company plans to list its shares on December 31, 2025. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Dhara Rail Projects Limited IPO Timeline
IPO Listing Snapshot
This snapshot provides a quick view of the IPO status, pricing levels, and indicative performance.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed | ₹126 | ₹150 | ▲ 19.05% |
IPO Quick Facts
This section covers the main IPO details of Dhara Rail Projects that investors generally review before applying.
IPO Details at a Glance
| Company Name | Dhara Rail Projects |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Price | ₹120 – ₹126 Per Share |
| Lot Size | 1,000 Shares |
| Face Value | ₹10 Per Share |
| Exchange | NSE & SME |
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 204,000 | 5.12% |
| Qualified Institutional Buyers (QIB) | 1,889,000 | 47.41% |
| — Anchor Investor | 1,133,000 | 28.44% |
| — QIB (Ex Anchor) | 756,000 | 18.98% |
| NII (HNI) | 567,000 | 14.23% |
| — bNII > ₹10L | 378,000 | 9.49% |
| — sNII < ₹10L | 189,000 | 4.74% |
| Retail | 1,324,000 | 33.23% |
| Total Shares Offered | 3,984,000 | 100.00% |
Dhara Rail Projects IPO Important Dates
The following table highlights the key dates for the Dhara Rail Projects IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 23 Dec 2025 |
|---|---|
| IPO Closing Date | 26 Dec 2025 |
| Allotment Finalization | 29 Dec 2025 |
| Initiation of Refunds | 30 Dec 2025 |
| Credit of Shares | 30 Dec 2025 |
| IPO Listing Date | 31 Dec 2025 |
Dhara Rail Projects IPO Size
| Total IPO Size | ₹50.20 Crore |
|---|---|
| Fresh Issue | ₹50.20 Crore |
Dhara Rail Projects IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Dhara Rail Projects IPO, calculated using the cut-off price. The price band for this IPO ranges from ₹120 to ₹126 per share.
Note: Retail investors generally apply at the cut-off price, which is ₹126 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹126 | ₹252,000 |
| Retail (Max) | 2 | 2,000 | ₹126 | ₹252,000 |
| S-HNI (Min) | 3 | 3,000 | ₹126 | ₹378,000 |
| S-HNI (Max) | 7 | 7,000 | ₹126 | ₹882,000 |
| B-HNI | 8 | 8,000 | ₹126 | ₹1,008,000 |
Dhara Rail Projects IPO Promoter Holding
| Promoter(s) | Tejas Lalit Mehta, Jagruti Tejas Mehta & Dhara Tejas Mehta |
|---|---|
| Pre-Issue Holding | 98.33% |
| Post-Issue Holding | 72.36% |
Dhara Rail Projects IPO FAQs
The Dhara Rail Projects IPO is a SME Bookbuilding IPO with a total issue size of ₹50.20 crore.
The IPO will open for subscription on Tue, 23 Dec 2025 and will close on Fri, 26 Dec 2025.
The shares are being offered at a price band of ₹120 to ₹126 per equity share.
Investors can apply for the IPO with a minimum lot size of 1,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹252,000.
The shares of Dhara Rail Projects are expected to be listed on NSE & SME on Wed, 31 Dec 2025.
Each equity share in the IPO has a face value of ₹10.
The IPO consists of a Fresh Issue, where shares are being offered by existing shareholders.
How to Apply for Dhara Rail Projects IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
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