Issue Price
₹126
Per Share
GMP
+₹14
+11.11% Grey Market
Est. Listing
₹140
Expected Price
Min. Application
₹252,000
2 lots × 1000 shares
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 geographiesAssured quality servicesExperienced senior management
Dhara Rail Projects Ltd proposes to utilise the net proceeds from the Issue for the following objects:
| Category | Shares Offered | % Issue | Amount (₹ Cr)* | Subscription |
|---|---|---|---|---|
| Market Maker | 204,000 | — | ₹2.57 Cr | — |
| TOTAL | 3,984,000 | 100.00% | ₹50.20 Cr | — |
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹126,000 |
| Retail (Max) | 13 | 13,000 | ₹1,638,000 |
| sNII (Min) | 14 | 14,000 | ₹1,764,000 |
| bNII (Min) | 68 | 68,000 | ₹8,568,000 |
| Particulars | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue from Operations | 28.83 | 48.00 | 34.23 |
| EBITDA | 9.60 | 5.28 | 1.33 |
| Profit After Tax (PAT) | 7.06 | 6.53 | 2.97 |
| Net Worth | 19.95 | 12.89 | 6.36 |
| Total Assets | 61.73 | 46.24 | 47.29 |
| Reserves & Surplus | 8.85 | 12.79 | 6.26 |
| Total Borrowings | 21.29 | 21.33 | 28.17 |