Dhara Rail Projects IPO is to open on 2025. It is a SME IPO that will raise ₹50.20 crores. The Dhara Rail Projects IPO price band is fixed at ₹120 to ₹126 with a market lot of 2,000 Shares.
Dhara Rail Projects IPO GMP Live Rates day by day with Kostak rates.
| Date | IPO GMP | GMP Trend | Gain |
| 31 Dec | ₹15 |  | 11.90% |
| 30 Dec | ₹14 |  | 11.11% |
| 29 Dec | ₹18 | | 14.29% |
| 27 Dec | ₹24 | | 19.04% |
| 26 Dec | ₹12 | | 9.52% |
| 25 Dec | ₹10 | | 7.94% |
| 24 Dec | ₹14 | | 11.11% |
| 23 Dec | ₹12 | | 9.52% |
| 22 Dec | ₹8 | | 6.35% |
| 20 Dec | ₹- | – | -% |
| 19 Dec | ₹- | – | -% |
| 18 Dec | ₹- | – | -% |
Dhara Rail Projects IPO Details
| IPO Open Date | December 23, 2025 |
| IPO Close Date | December 26, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹120 to ₹126 Per Share |
| Issue Size | Approx ₹50.20 Crores |
| Fresh Issue | Approx ₹50.20 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Dhara Rail Projects IPO Dates
| IPO Open Date: | December 23, 2025 |
| IPO Close Date: | December 26, 2025 |
| Basis of Allotment: | December 29, 2025 |
| Refunds: | December 30, 2025 |
| Credit to Demat Account: | December 30, 2025 |
| IPO Listing Date: | December 31, 2025 |
| IPO Bidding Cut-off Time: | December 26, 2025 – 5 PM |
Business Overview
Dhara Rail Projects is involved in maintenance, repair, and electrical services to Indian Railways. To ensure train safety, the company offers Annual Maintenance Contracts (AMC) and on-call repair services for train systems, which include LED interior and emergency lights, wiring, control units, and battery backup systems.
Its services consist of AMC and repair of train lighting systems, including Vande Bharat, AMC and repair of OHE maintenance vehicles (Tower Wagons), AMC and repair of Power Car equipment and HVAC systems, Supply, installation, testing, and commissioning of electrical equipment, and Outsourced coach operation and troubleshooting services. Moreover, the company mainly collaborates with the Indian government’s Ministry of Railways. The company consists of 849 employees as of August 31, 2025.
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Disclaimer:
- IPO Grey Market Premium (Dhara Rail Projects IPO GMP) mention is valid for the specific date as mentioned in the header.
- We are not buying and selling IPO forms on IPO Grey Market.
- Kostak Rate is the premium one gets by selling his/her IPO application (in an off-market transaction) to someone else even before allotment or listing of the issue.
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