Dhara Rail Projects IPO Allotment Today: Latest GMP, Steps To Check Status Online And Listing Date

The share allotment status for Dhara Rail Projects IPO is scheduled to be finalised today, on Monday, Dec. 29. The company is expected to process refunds to non-allottees on Dec. 30 and shares will also be transferred to the demat accounts of allottees on the same day.

The listing date for Dhara Rail Projects IPO has been tentatively scheduled as Dec. 31. Shares of Dhara Rail Projects Ltd. will be listed on the NSE SME platform.

The initial public offering (IPO) of Dhara Rail Projects was oversubscribed 111.9 times on the third and final day of bidding on Dec. 26. During the three-day bidding period, the IPO received applications for 29.62 crore shares against 26.47 lakh shares on offer.

Qualified Institutional Buyers (QIBs) booked the issue 71.3 times, while the Non-Institutional Investors’ (NIIs) category was subscribed 199.41 times. The retail quota of the IPO was booked 97.61 times.

The price band for the IPO was set at Rs 120 to Rs 126 per share. Dhara Rail Projects IPO was a book-building issue worth Rs 50.2 crore. The IPO comprised entirely a fresh issue of 40 lakh shares.

Incorporated in 2010, the Mumbai-based company mainly works with the Indian Railways by participating in tenders or collaborating with Original Equipment Manufacturers (OEMs). It provides multiple services, such as annual maintenance contracts as well as repair services for railway rolling stock systems.

The proceeds from the IPO will be utilised for debt repayment, working capital requirements and general corporate purposes.

Investors who participated in the IPO can check the allotment status on the websites of NSE and the issue registrar, Bigshare Services Pvt. Ltd. 

·      Visit the IPO allotment page on the NSE website here.

·      Select the ‘Equity & SME IPO bid details’ option.

·      Pick the company symbol 'DHARARAIL' from the dropdown list.

·      Enter your PAN and application number.

·      Click on the ‘Submit’ button to check your share allotment status.

·      Visit the Bigshare Services IPO allotment page here.

·      Choose one of the three servers.

·      From the dropdown menu, choose ‘Dhara Rail Projects’ as the IPO name.

·      Select one of the available identification options – PAN, application number/CAF No. or beneficiary ID.

·      Enter the details based on the option you selected and fill captcha.

·      Click on the ‘Search’ button.  Your IPO allotment status will be displayed on the screen.

The latest grey market premium (GMP) for the Dhara Rail Projects IPO stood at Rs 18 per share on Dec. 29. The latest GMP indicates an estimated listing price of Rs 144, implying a potential premium of 14.29% over the upper limit of the issue price of Rs 126 per share.

Note: GMP does not represent official data and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.