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Open
23 Dec 2025
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Close
26 Dec 2025
3
Allotment
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Listing
Wed, Dec 31, 2025
Price Band
₹120 to ₹126
Issue Size
39,84,000 shares (agg. up to ₹50 Cr)
Lot Size
1,000 Shares
Listing Date
Wed, Dec 31, 2025
Latest GMP
₹16.5
Est. Gain
13.1%
✦ AI Insight
GMP Trend
31-12-2025₹16.5Est. ₹142.5+13.1%
30-12-2025₹16.5Est. ₹142.5+13.1%
29-12-2025₹14Est. ₹140+11.11%
Live Subscription
| Category | Subscription (times) |
|---|---|
| Total | 78.53x |
Restated Financials (₹ Cr.)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 61.73 | 46.24 | 47.29 | 33.98 |
| Total Income | 28.83 | 48.00 | 34.23 | 27.39 |
| Profit After Tax | 7.06 | 6.53 | 2.97 | 1.06 |
| EBITDA | 9.60 | 5.28 | 1.33 | 0.75 |
| NET Worth | 19.95 | 12.89 | 6.36 | 3.39 |
| Reserves and Surplus | 8.85 | 12.79 | 6.26 | 3.29 |
| Total Borrowing | 21.29 | 21.33 | 28.17 | 22.74 |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Clear Secured Services Ltd. | SME | ₹85.60 Cr | ₹132 | 23.36 | ₹113.05 | -14.36% | ₹104.00 (+2.06%) |
| Sheel Biotech Ltd. | SME | ₹34.02 Cr | ₹63 | 8.86 | ₹95.55 | +51.67% | ₹70.25 (-2.43%) |
| Happy Square Outsourcing Services Ltd. | SME | ₹24.25 Cr | ₹76 | 10.83 | ₹80.85 | +6.38% | ₹42.20 (+4.84%) |
| Moving Media Entertainment Ltd. | SME | ₹43.40 Cr | ₹70 | 8.49 | ₹74.55 | +6.50% | ₹29.80 (-4.94%) |
| Icon Facilitators Ltd. | SME | ₹19.11 Cr | ₹91 | 11.72 | ₹85.50 | -6.04% | ₹69.00 (+2.83%) |
| Nukleus Office Solutions Ltd. | SME | ₹31.70 Cr | ₹234 | 52.33 | ₹196.55 | -16.00% | ₹221.70 (-0.54%) |
| Eleganz Interiors Ltd. | SME | ₹78.07 Cr | ₹130 | 17.67 | ₹116.05 | -10.73% | ₹94.20 (+0.16%) |
| Chamunda Electrical Ltd. | SME | ₹14.60 Cr | ₹50 | 16.59 | ₹66.50 | +33.00% | ₹43.15 (-3.58%) |
| EMA Partners India Ltd. | SME | ₹76.01 Cr | ₹124 | 15.56 | ₹148.70 | +19.92% | ₹83.00 (-0.48%) |
| WeWork India Management Ltd. | Mainboard | ₹2,999.64 Cr | ₹648 | 67.75 | ₹628.65 | -2.99% | ₹728.05 (+1.01%) |
| Dev Accelerator Ltd. | Mainboard | ₹143.35 Cr | ₹61 | 233.25 | ₹64.05 | +5.00% | ₹34.19 (-1.18%) |
| Indiqube Spaces Ltd. | Mainboard | ₹700.00 Cr | ₹237 | null | ₹217.97 | -8.03% | ₹171.01 (-2.12%) |
| Smartworks Coworking Spaces Ltd. | Mainboard | ₹582.56 Cr | ₹407 | null | ₹445.05 | +9.35% | ₹463.85 (-0.52%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or pre-payment, in full or part, of borrowing availed by Company | 7.00 |
| 2 | To Meet Working Capital Requirements of Company | 30.50 |
| 3 | General Corporate Purposes | 6.87 |
| 4 | Issue Expenses | 5.83 |
| Total | 50.20 |
About Dhara Rail Projects IPO
Incorporated in 2010, Dhara Rail Projects Ltd is an ISO 9001:2015 certified company, providing various services like 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. Competitive Strengths: Diversified order book of projects across India: Rs 14,409.81 lakhs as on Sep 29, 2025. Revenue from multiple geographies Assured quality services Experienced senior management + Read More
Contact Details
Dhara Rail Projects Ltd. AddressGala No.O, 196-KGirgaum Gaiwadi, GirgaumMumbai, Maharashtra, 400004+91-22-23865040cs@drppl.comVisit Website