Dhara Rail Projects SME IPO Subscription
ListedUpdated 31 December 2025, 9:15 AM IST· NSE SME
Dhara Rail Projects SME IPO subscription closed on 26 December 2025 at 112.01x overall by shares. QIB demand came in at 71.30x, NII at 199.78x, and retail at 97.66x. See Retail, SHNI, and BHNI allotment chances in the…
Dhara Rail Projects SME IPO subscription closed on 26 December 2025 at 112.01x overall by shares. QIB demand came in at 71.30x, NII at 199.78x, and retail at 97.66x. See Retail, SHNI, and BHNI allotment chances in the table below.
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Allotment date is 29 December 2025. Listing date on NSE and BSE is 31 December 2025.
Dhara Rail Projects SME IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 23 Dec 2025 | 4.55x | 2.35x | 1.48x | 2.54x |
| Day 2 - 24 Dec 2025 | 4.55x | 7.21x | 4.35x | 5.02x |
| Day 3 - 26 Dec 2025 | 71.30x | 199.41x | 97.61x | 111.90x |
Dhara Rail Projects SME IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Dhara Rail Projects SME IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail (IND) | 97.66x | 1 in 98 |
| SHNI (Rs 2L to Rs 10L) | 118.83x | 1 in 119 |
| BHNI (above Rs 10L) | 86.64x | 1 in 87 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Dhara Rail Projects SME IPO Allotment Status page from 29 December 2025 for your result.
Dhara Rail Projects SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 126.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 9.53 Cr | Rs 679.22 Cr | 71.30x |
| FII | - | Rs 122.13 Cr | - |
| DFI | - | Rs 71.35 Cr | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 485.73 Cr | - |
| NII | Rs 7.14 Cr | Rs 1,427.29 Cr | 199.78x |
| bNII (above Rs 10L) | Rs 4.76 Cr | Rs 1,134.57 Cr | 238.21x |
| Corporate | - | Rs 31.55 Cr | - |
| Individual | - | Rs 1,084.52 Cr | - |
| Other | - | Rs 18.50 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 2.38 Cr | Rs 292.72 Cr | 122.92x |
| Corporate | - | Rs 4.35 Cr | - |
| Individual | - | Rs 279.64 Cr | - |
| Other | - | Rs 8.73 Cr | - |
| IND | Rs 16.68 Cr | Rs 1,629.18 Cr | 97.66x |
| Total | Rs 33.35 Cr | Rs 3,735.69 Cr | 112.01x |
Dhara Rail Projects SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 756 | 71 | 0.09x |
| FII | - | 14 | - |
| DFI | - | 3 | - |
| Mutual Funds | - | - | - |
| Other | - | 54 | - |
| NII | 189 | 18,403 | 97.37x |
| bNII (above Rs 10L) | 126 | 10,917 | 86.64x |
| Corporate | - | 241 | - |
| Individual | - | 10,502 | - |
| Other | - | 174 | - |
| sNII (Rs 2L to Rs 10L) | 63 | 7,486 | 118.83x |
| Corporate | - | 111 | - |
| Individual | - | 7,156 | - |
| Other | - | 219 | - |
| IND | 662 | 64,650 | 97.66x |
| Total | 1,607 | 83,124 | 51.73x |
What Do These Subscription Numbers Mean?
112.01x overall by shares means bids covered about 112 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 71.30x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (97.37x by applications). Split: SHNI 118.83x, BHNI 86.64x by applications. SHNI and BHNI allotment is by lottery.
At 97.66x subscription by applications, about 1 in 98 retail applicants may get allotment (~1% chance per application). Retail allotment is also by lottery.
Dhara Rail Projects SME IPO GMP After Subscription
GMP for Dhara Rail Projects SME stands at Rs 17.00 today, giving an estimated listing price of Rs 143.00 per share.
A subscription of 112.01x combined with a GMP of 13.49% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Dhara Rail Projects SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Dhara Rail Projects SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 23 December 2025 |
| IPO Close Date | 26 December 2025 |
| Allotment Date | 29 December 2025 |
| Refund Initiation | 30 December 2025 |
| Share Credit to Demat | 30 December 2025 |
| Listing Date | 31 December 2025 |
| Minimum Investment | Rs 2,52,000.00 |
| Lot Size | 1000 shares |
About Dhara Rail Projects SME
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
IND - Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Dhara Rail Projects SME IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Dhara Rail Projects SME Details
Issue size, price, financials, and company info
Dhara Rail Projects SME GMP
Live grey market premium and listing estimate
Dhara Rail Projects SME Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Dhara Rail Projects SME Allotment
Allotment date, chances, and check by PAN
Dhara Rail Projects SME Review
SWOT, strengths, risks, and IPO review
Dhara Rail Projects SME FAQ
Common questions on dates, GMP, and allotment
Dhara Rail Projects SME Registrar
Registrar website and how to check allotment
Dhara Rail Projects SME Timeline
Open, close, allotment, and listing dates
Dhara Rail Projects SME News
Updates, blogs, and latest IPO news
Dhara Rail Projects SME IPO Subscription FAQs
What is Dhara Rail Projects SME IPO subscription status today?
Dhara Rail Projects SME IPO subscription closed on 26 December 2025 with overall subscription of 112.01x (by shares) as of 27 August 2026, 4:32 AM IST. QIB 71.30x, NII 97.37x, IND 97.66x.
What is the overall subscription of Dhara Rail Projects SME IPO?
Dhara Rail Projects SME IPO is subscribed 112.01x overall by shares at close on 26 December 2025. QIB 71.30x, NII 97.37x, and IND 97.66x.
What is Dhara Rail Projects SME IPO QIB subscription?
Dhara Rail Projects SME IPO QIB (Qualified Institutional Buyers) subscription is 71.30x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Dhara Rail Projects SME IPO IND subscription?
Dhara Rail Projects SME IPO IND subscription is 97.66x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Dhara Rail Projects SME IPO NII, SHNI, and BHNI subscription?
Dhara Rail Projects SME IPO NII subscription is 97.37x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 118.83x and BHNI (above Rs 10L) at 86.64x.
What are Dhara Rail Projects SME IPO retail allotment chances?
At 97.66x subscription by applications, about 1 in 98 retail applicants may get allotment (~1% chance per application). Allotment is by lottery.
What are Dhara Rail Projects SME IPO SHNI allotment chances?
At 118.83x subscription by applications, about 1 in 119 SHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 122.92x. Allotment chances use applications, not share volume.
What are Dhara Rail Projects SME IPO BHNI allotment chances?
At 86.64x subscription by applications, about 1 in 87 BHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 238.21x. Allotment chances use applications, not share volume.
When is Dhara Rail Projects SME IPO allotment date?
Dhara Rail Projects SME IPO allotment date is 29 December 2025. Check Dhara Rail Projects SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does Dhara Rail Projects SME IPO subscription close?
Dhara Rail Projects SME IPO subscription closed on 26 December 2025. No new applications are accepted after the close.
What is Dhara Rail Projects SME IPO GMP today?
Dhara Rail Projects SME IPO GMP is ₹17 today (+13.49% over issue price ₹126). See live GMP on the Dhara Rail Projects SME IPO GMP Today page.
What is Dhara Rail Projects SME IPO issue price and lot size?
Dhara Rail Projects SME IPO issue price is ₹126 per share. Lot size is 1000 shares. Minimum investment is ₹2,52,000 per lot (minimum 2 lots for SME). Issue size: ₹47.63 Cr.
When is Dhara Rail Projects SME IPO listing date?
Dhara Rail Projects SME IPO listing date is 31 December 2025 on NSE and BSE. Allotment is on 29 December 2025.
How does subscription affect Dhara Rail Projects SME IPO allotment?
In Dhara Rail Projects SME IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 112.01x overall, competition is very high.
For allotment results from 29 December 2025, visit the Dhara Rail Projects SME IPO Allotment Status page. For listing day updates on 31 December 2025, download the IPOwiz App.
Sources
We match Dhara Rail Projects SME IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.