Dhara Rail Projects IPO Date, Review, Price, Allotment Details IPO
Dhara Rail Projects IPO Summary
IPO Open Date: 23 Dec 2025
IPO Close Date: 26 Dec 2025
Price Band: ₹120 to ₹126 Per Share
Issue Size: Approx ₹50.20 Crores
Listing Exchange: BSE SME
Website: https://www.drppl.com/
Dhara Rail Projects IPO Overview
Dhara Rail Projects IPO open date is December 23, 2025 and the IPO will close on December 26, 2025. Dhara Rail Projects IPO is a Book Build Issue. The company to raise around ₹50.20 crores via IPO that comprises fresh issue of ₹50.20 crores and offer for sale up to [.] equity shares with face value of ₹10 each.
Dhara Rail Projects IPO price band is ₹120 to ₹126 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Dhara Rail Projects IPO to list on NSE on December 31, 2025. The allotment of Dhara Rail Projects IPO date is December 29, 2025.
The company reported revenue of ₹48.00 crores in 2025 against ₹34.23 crores in 2024. The company reported profit of ₹6.53 crores in 2025 against profit of ₹2.97 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.
Dhara Rail Projects IPO Details
| Company Name | Dhara Rail Projects Limited |
| IPO Open Date | 23 Dec 2025 |
| IPO Close Date | 26 Dec 2025 |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹120 to ₹126 Per Share |
| Issue Size | Approx ₹50.20 Crores |
| Fresh Issue | Approx ₹50.20 Crores |
| Offer for Sale | - |
| Issue Type | Book Build Issue |
| Listing On | NSE SME |
Dhara Rail Projects IPO Review & Key Points
NeutralDhara Rail Projects IPO Market Lot
The Dhara Rail Projects IPO minimum market lot is 2,000 shares with ₹2,52,000 application amount.
| Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,000 | ₹2,52,000 |
| Retail Maximum | 2 | 2,000 | ₹2,52,000 |
| S-HNI Minimum | 3 | 3,000 | ₹3,78,000 |
| S-HNI Maximum | 7 | 7,000 | ₹8,82,000 |
| B-HNI Minimum | 8 | 8,000 | ₹10,08,000 |
Dhara Rail Projects IPO Reservation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Anchor Investor | 11,33,000 Shares | 28.44% |
| QIB (Ex. Anchor) | 7,56,000 Shares | 18.98% |
| NII / HNI | 5,67,000 Shares | 14.23% |
| Retail | 13,24,000 Shares | 33.23% |
Anchor Bidding Date: 22 Dec 2025
Anchor Issue Size: 14.28 Cr.
30 Days Lock-in: 28 Jan 2026
90 Days Lock-in: 29 Mar 2026
Dhara Rail Projects IPO Dates & Allotment
| IPO Opening Date | 23 Dec 2025 |
| IPO Closing Date | 26 Dec 2025 |
| Bidding Cutoff Time | 5 PM |
| Basis of Allotment | 29 Dec 2025 |
| Refunds Initiation | 30 Dec 2025 |
| Credit to Demat | 30 Dec 2025 |
| IPO Listing Date | 31 Dec 2025 |
Dhara Rail Projects IPO Objects of the Issue & Utilization of Proceeds
| Description | Amount |
|---|---|
| Repayment and/or pre-payment, in full or part, of borrowing availed by our Company | ₹7.00 |
| To Meet Working Capital Requirements of our Company | ₹28.00 |
| General Corporate Purpose | ₹- |
Dhara Rail Projects Limited Financials
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹27.39 | ₹25.92 | ₹1.06 | ₹33.98 |
| 2024 | ₹34.23 | ₹30.26 | ₹2.97 | ₹47.29 |
| 2025 | ₹48.00 | ₹39.44 | ₹6.53 | ₹46.24 |
| September 2025 | ₹28.83 | ₹19.32 | ₹7.06 | ₹61.73 |
Dhara Rail Projects IPO Valuation
Check Dhara Rail Projects IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Parameter | Value |
|---|---|
| Earnings Per Share (EPS) | ₹5.88 (Basic) |
| P/E Ratio | N/A |
| Return on Equity (ROE) | 67.85% |
| Return on Capital Employed (ROCE) | 25.59% |
| Return on Net Worth (RoNW) | 50.66% |
| Net Asset Value (NAV) | ₹11.61 |
| EBITDA Margin | 11.88% |
| PAT Margin | 14.67% |
| Debt to Equity Ratio | 1.66 |
Dhara Rail Projects IPO Promoters & Holding Pattern
The promoters of the company are Tejas Lalit Mehta, Jagruti Tejas Mehta and Dhara Tejas Mehta.
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 1,11,00,000 | 100% |
| Promoter Holding Post Issue | 1,50,84,000 | 72.35% |
Dhara Rail Projects IPO Lead Managers (Merchant Bankers)
- Hem Securities Ltd.
About Dhara Rail Projects Limited
Dhara Rail Projects Limited is a Mumbai-based engineering company specializing in the maintenance and repair of railway rolling stock systems for the Indian Railways
As of late December 2025, the company is in the process of launching its Initial Public Offering (IPO) on the NSE SME platform.
Dhara Rail Projects Limited Address
Mumbai-400004, Maharashtra, IndiaPhone: +91-22-23865040
Email: [email protected]
Dhara Rail Projects IPO Registrar
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/IPO_Status.html