Dhara Rail Projects Limited is an engineering and services company primarily engaged in executing railway electrical and maintenance contracts for Indian Railways. The company earns revenue through direct railway contracts and pre-bid arrangements with OEMs. Its services include installation, testing, commissioning, operations, and maintenance of electrical systems in railway coaches and rolling stock, including modern trains like Vande Bharat.

Dhara Rail Projects, an Book Built Issue, amounting to â‚¹ 50.20 Crore,consisting entirely an fresh issue of 0.40 crore shares of ₹50.20 Crore.The subscription period for the Dhara Rail Projects IPO opens on December 23, 2025, and closes on December 26, 2025. The allotment is expected to be finalized on or about Monday, December 29, 2025., and the shares will be listed on the NSE SME with a tentative listing date set on or about Wednesday, December 31, 2025.

The Share Price Band of Dhara Rail Projects IPO is set at â‚¹120 to ₹126 per share  per equity share. The Market Capitalisation of the Dhara Rail Projects at IPO price of ₹126 per equity share will be â‚¹ 190.06 Crores. The lot size of the IPO is 1000 shares. Retail investors are required to invest a minimum of  â‚¹ 252,000  2 lots ( 2000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is 3 lots ( 3000 shares), amounting to â‚¹ 378,000.

HEM SECURITIES LIMITED are the book running lead manager of the Dhara Rail Projects Ltd. while Bigshare Services Private Limited is the registrar for the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd.

Dhara Rail Projects Limited IPO GMP Today
The Grey Market Premium of Dhara Rail Projects IPO is expected to be â‚¹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Dhara Rail Projects Limited IPO Live Subscription Status Today: Real-Time Update
As of 10:30 AM on 25 December, 2025, the Admach Systems IPO live subscription status shows that the IPO subscribed 5.02 times on its Third Day of subscription period. Check the Admach Systems IPO Live Subscription Status Today at BSE.

Dhara Rail Projects Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Dhara Rail Projects IPO allotment date is 29 December 2025, Monday, Dhara Rail Projects IPO Allotment will be out on 29 December 2025, Monday, and will be live on Registrar Website from the allotment date.
Check Bigshare Services Private Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Dhara Rail Projects IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Dhara Rail Projects Limited IPO
Dhara Rail Projects to utilise the Net Proceeds towards the following objects:
1. ₹700.00 Lakh is required for Repayment and/or pre-payment, in full or part, of borrowing availed by our Company.
2. ₹3050.00 Lakh is required for To Meet Working Capital Requirements of our Company
3. General Corporate Purpose

Refer to Dhara Rail Projects Limited RHP for more details about the Company.