Dhara Rail Projects IPO
Dhara Rail Projects Limited IPO
Dhara Rail Projects IPO IPO, a SME IPO opens for subscription soon. The price band is set between ₹120 –126 , with a face value of ₹10 . Retail investors can apply with a minimum of 1 lot, each comprising 1,000 shares — amounting to ₹126,000 at the upper price. The tentative listing date on the exchange (NSE) is December 31, 2025.
Stay tuned for more on Dhara Rail Projects IPO including business overview, financial performance, live subscription by category, allotment links, daily grey market premium (GMP), and listing performance. This information is for education only—GMP is indicative, not advice.
Dhara Rail Projects IPO SME IPO Important Dates
Get important updates regarding Dhara Rail Projects IPO SME IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates. Dates are updated as soon as they are announced.
IPO Timeline & Key Dates
* Tentative; subject to confirmation.
Price Band & Investment Details
| Issue Size |
3,984,000 shares (aggregating up to ₹50.20 Cr) |
| Issue Price | ₹120 – ₹126 |
| Face Value | ₹10/share |
| Market Lot | 1,000 shares |
| Retail Min Investment | ₹126,000 |
| Listing At | NSE |
| Sale Type | fresh issue |
| Issue Type | book building |
Dhara Rail Projects IPO Grey Market Premium (GMP) - Current & Historical Rates
Subscription (Latest Snapshot)
View Detailed SubscriptionNo snapshot available yet.
Registrar
- Registrar
- Bigshare Services Private Limited
- Registrar Phone
- +91 22 6263 8200
- Registrar Email
- ipo@bigshareonline.com
- Registrar Address
- Office No S6-2 6th Floor, Pinnacle Business Park, Mahakali Caves Rd, next to Ahura Centre, Andheri East Mumbai - 400093
Dhara Rail Projects IPO Investment Limits
IPO investment limits, also referred to as application limits or bidding limits, define the minimum and maximum number of shares, lots, and investment amount that investors can apply for in an IPO based on their category (Retail, HNI, or Institutional). These limits are calculated as per SEBI guidelines and help ensure fair distribution of shares. Retail investors typically have lower minimum and maximum limits compared to High Net Worth Individuals (HNI) and Non-Institutional Investors (NII). Understanding IPO application limits is essential for investors to determine how much they can invest, calculate the number of lots they can apply for, and plan their investment strategy accordingly. The investment limits table shows the lot size, number of shares, and total amount in rupees for each investor category.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹126,000 |
| Retail (Max) | 1 | 1,000 | ₹126,000 |
| S-HNI (Min) | 2 | 2,000 | ₹252,000 |
| S-HNI (Max) | 7 | 7,000 | ₹882,000 |
| B-HNI (Min) | 8 | 8,000 | ₹1,008,000 |
Promoter Holding
Tejas Lalit Mehta, Jagruti Tejas Mehta & Dhara Tejas Mehta are the company promoters.
Company Overview
Dhara Rail Projects Limited is an ISO 9001:2015 certified company providing comprehensive maintenance, repair, and electrical services to Indian Railways. It specializes in Annual Maintenance Contracts (AMC) and on-call repairs for train lighting systems (including LED and emergency lighting across all rolling stock, e.g., Vande Bharat), HVAC systems, Overhead Equipment (OHE) maintenance vehicles (Tower Wagons), power car equipment, and Supply, Installation, Testing, Commissioning (SITC) of electrical equipment. The company also offers en-route outsourcing and manpower support for passenger coaches. It primarily serves the Ministry of Railways through competitive tenders and operates nationwide with an order book of ~₹143-144 crores across 59-60 projects.
Growth Highlights: Revenue from operations grew from ₹2,660 lakhs (FY2023) to ₹3,147 lakhs (FY2024) to ₹4,448 lakhs (FY2025); PAT rose from ₹106 lakhs to ₹297 lakhs to ₹653 lakhs over the same period. Strong order book diversification and direct contracts contributing ~70-75% of revenue.
Key Strengths: Experienced promoters (20-24 years in railway projects), ISO certification, focus on government contracts (stable revenue from Ministry of Railways), skilled workforce (849 employees), diversified services across rolling stock categories, cost efficiency, and strong compliance in a fragmented industry.
- Founded In
- 2010
- Managing Director
- Mr. Tejas Lalit Mehta
- Headquarters
- Registered Address: Gala No. O, 196-K, Girgaum Gaiwadi, Girgaum, Mumbai – 400004, Maharashtra, India Corporate Office: 208, 2nd Floor, Plot-16, The Jewel Roxy Chambers, Mama Parmanand Marg, Opera House, Girgaon, Mumbai – 400004, Maharashtra, India
- Website
- drppl.com
- Industry
- Railway Infrastructure
Financials
| Year | Revenue (₹ Cr) | Profit (₹ Cr) | Net Worth (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2025 | 48 | — | 12.89 | 46.24 |
| 2024 | 34.23 | — | 6.36 | 47.29 |
| 2023 | 27.39 | — | 3.39 | 33.98 |
You may also like
