Dhara Rail Projects IPO GMP & Review: Apply or Avoid?

Dhara Rail Projects IPO is open for bidding from 23rd December 2025 to 26th December 2025. It is a bookbuilding IPO of ₹50.20 crore, an entirely fresh issue of 0.40 crore shares. The issue will be listed on NSE and SME on its tentative listing date, 31st December 2025. 

Dhara Rail Projects IPO Details 

The Dhara Rail Projects IPO date is fixed between 23rd December 2025 and 26th December 2025. The face value of Dhara Rail Projects shares stands at ₹10 per share, and the IPO Issue price band is set at ₹120 to ₹126 per share

Bigshare Services Private Limited is the registrar of the Dhara Rail Projects IPO and is responsible for managing the allotment process and initiating refunds. Check out the latest IPO details in the table below. 

Dhara Rail Projects IPO Share Reservation

Riddhi Display Equipment’s IPO is a bookbuilding IPO issue of 0.40 crore worth ₹50.20 crores. Dhara Rail Projects IPO Limited shares will be listed on the NSE and the SME Exchange. Furthermore, SEBI has specified the share reservation criteria for different investor categories. 

Dhara Rail Projects IPO GMP Grey Market Premium

GMP is the gap between the issue price band and the price at which company shares are currently trading in the grey market. Do you want to get live updates on the Dhara Rail Projects IPO? If yes, then you’ve reached the right spot. Check the table below to learn about the GMP trends.

As of 23rd December 2025, Dhara Rail Projects IPO GMP stands at ₹8 per share, which means the share will likely show a listing at ₹134.00 on its tentative listing date, 31st December 2025.

GMP data is subject to change based on market trends and sentiments. You should check the live GMP status before applying for the Dhara Rail Projects IPO GMP. Stay informed with Univest for real-time insights into IPOs and their GMP trends. 

Dhara Rail Projects IPO GMP Review

Check out the detailed Dhara Rail Projects GMP IPO review for a thorough understanding of its potential to report listing gains on 31st December 2025. The Dhara Rail Projects IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO. 

Financial Health

Assess a company’s financial performance to know about its ability to sustain a competitive edge. Thus, it is essential to understand the business’s economic growth and decline before applying for the Dhara Rail Projects IPO.

Dhara Rail Projects Limited’s revenue increased by 40% from ₹34.23 crores in March 2024  to ₹48.00 crores in March 2025. Moreover, the company’s PAT increased by 120% from ₹2.97 crores in March 2024 to ₹6.53 crores in March 2025.

Dhara Rail Projects’ IPO has shown consistent revenue growth, indicating the company’s financial stability. Moreover, the brokers, investors, and RAs have a positive outlook for the Dhara Rail Projects IPO for its tentative listing day, which is 31st December 2025. 

Technical Analysis

Several technical indicators are available to assess a company’s potential to deliver returns. Use the parameters mentioned below to analyse the technicals of the Dhara Rail Projects IPO.

The PE ratio of Dhara Rail Projects Limited shares is 21.43, and its Earnings Per Share (EPS) stands at 5.88. Thus, the Dhara Rail Projects IPO can deliver gains on its tentative listing date, 31st December 2025. 

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Dhara Rail Projects Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics. 

Dhara Rail Projects IPO Subscription Status

The Dhara Rail Projects IPO is to be opened for bidding on 22nd December 2025. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Dhara Rail Projects IPO Subscription Status. 

About Dhara Rail Projects Limited

Dhara Rail Projects was established in 2010. Dhara Rail Projects Ltd is an ISO 9001:2015-certified company providing various services, such as annual maintenance contracts and repair services for railway rolling stock systems.

Key services:

• AMC and repairs of train lighting systems across all types of trains, including Vande Bharat.
• AMC and repairs for Overhead Equipment (OHE) maintenance vehicles (Tower Wagons).
• AMC and repairs of Power Car equipment and HVAC systems in trains.
• Supply, Installation, Testing, and Commissioning (SITC) of electrical equipment for all types of rolling stock.
• Outsourced services for coach operations and troubleshooting.

The company mainly works with the Ministry of Railways, Government of India, by participating in tenders or collaborating with OEMs.

Dhara Rail Projects Limited Financials

The company’s financial analysis is essential before applying for the Dhara Rail Projects IPO. Look at the table to learn about Dhara Rail Projects Limited’s financials. 

Explanation

Dhara Rail Projects Limited’s revenue increased by 40% from ₹34.23 crores in March 2024  to ₹48.00 crores in March 2025. Moreover, the company’s PAT increased by 120% from ₹2.97 crores in March 2024 to ₹6.53 crores in March 2025.

Dhara Rail Projects Limited IPO Promoter Holdings

Have a look at the table below to check the holdings of Dhara Rail Projects Limited.

Mr Hitesh Kumar Singla, Mr Nikhil Singla, Mr Nitin Dixit, and Mr Anil Kumar Sharma.

Note: The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue.

Aim of the Dhara Rail Projects IPO

The primary aim of the Dhara Rail Projects IPO is to raise ₹50.20 crores. On the other hand, Dhara Rail Projects has decided to utilise these funds in different ways.

• To Repayment and/or pre-payment, in full or part, of borrowing availed by our Company
• To Meet the Working Capital Requirements of our Company
• To General Corporate Purpose

Should I Invest in the Dhara Rail Projects IPO?

Explore the pros and cons of Dhara Rail Projects to know whether you should apply or avoid the issue. These pros and cons might help you understand the IPO’s efficiency in delivering profits over the coming decades. 

Pros of the Dhara Rail Projects IPO

• The company has a Diversified order book of projects across India, totalling Rs 14,409.81 lakhs as of Sep 29, 2025.
• The company has Revenue from multiple geographies
• The company has an Assured quality service

Cons of the Dhara Rail Projects IPO

• The company has a high dependence on government contracts 
• The company has a competitive rendering environment 
• The company has a working capital intensity & cash flow pressure

How to Apply for the Dhara Rail Projects IPO?

Check the steps mentioned below to apply for Dhara Rail Projects Ltd.

• Step 1: Conduct thorough research on the Dhara Rail Projects IPO GMP, subscription status, issue size, lot size, and other details. 
• Step 2: Open a demat account with Univest to access real-time insights on GMP and subscription status. You can also use your previous demat account by navigating to the IPO section. 
• Step 3: Make a bid for 2 lot of 2,000 shares worth ₹2,52,000
• Step 4: You will receive a mandate request after making a bid. Approve the request to proceed further.    

Note: You can apply for the Dhara Rail Projects IPO across multiple demat accounts to increase your chances of allotment. 

How to Check the Dhara Rail Projects IPO Allotment Status?

You can check for the Dhara Rail Projects IPO allotment in different ways. These include NSE and the registrar portal. Follow the steps below to check your allotment status online.

Check On NSE

• Visit the NSE Official Site
• Navigate to the IPO Allotment Section. 
• Select Equity as the issue type. 
• Choose the Dhara Rail Projects IPO.  
• Choose whether to proceed with the PAN number or the application number.
• Submit your details to get the allotment status online. 

Check On the Registrar Portal

• Visit the registrar portal.
• Click on the allotment option.
• Fill in the required details.
• Click on the submit button to know your Dhara Rail Projects IPO allotment status.

Let’s Wrap

Dhara Rail Projects IPO is a bookbuilding issue of shares worth ₹50.20 crores. The shares of Dhara Rail Projects Limited will be listed on NSE and SME on its tentative listing date of 31st December 2025. Researching the Dhara Rail Projects IPO GMP and reviews is highly recommended to achieve your desired profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.

Open a demat account on Univest now to initiate your investment journey!

FAQs on Dhara Rail Projects IPO

How is the Dhara Rail Projects IPO?

Ans. Currently, on 23rd December 2025, the Dhara Rail Projects GMP (Grey Market Premium) stands at ₹18. It indicates that the estimated listing price could be ₹134 per share. It is a bookbuilding IPO of ₹50.20 shares. The face value of each Dhara Rail Projects share is ₹10 per share. 

What is the Dhara Rail Projects IPO price?

Ans. The Dhara Rail Projects IPO issue price band is set at ₹120.00 to ₹126.00 per share. 

Is the Dhara Rail Projects IPO a good investment?

Ans. Dhara Rail Projects Limited’s revenue increased by 40% from ₹34.23 crores in March 2024  to ₹48.00 crores in March 2025. Moreover, the company’s PAT increased by 120% from ₹2.97 crores in March 2024 to ₹6.53 crores in March 2025.

Who is the registrar of the Dhara Rail Projects IPO?

Ans. Bigshare Services Private Limited is the registrar for the Dhara Rail Projects IPO, awaiting to manage the allotment process and initiate refunds. For any queries regarding the Dhara Rail Projects allotment and refund, you can contact Maashitla Bigshare Services Private Limited at ipo@bigshareonline.com or at  +91-22-6263 8200.

What is the issue size of the Dhara Rail Projects IPO? 

Ans. Dhara Rail Projects IPO is a bookbuilding IPO for ₹50.20 shares. Moreover, the IPO is set to open on 23rd December 2025 and will be closed on 26th December 2025. 

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Dhara Rail Projects IPO, download the Dhara Rail Projects IPO RHP and Dhara Rail Projects IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.

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