Dhara Rail Projects SME IPO GMP History | Listing Price ₹138 & Kostak Rate
Dhara Rail Projects SME IPO has been listed on December 31, 2025 at a listing price of ₹138, against the issue price of ₹₹126 — a gain of ₹12 (+9.52%). The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Dhara Rail Projects SME IPO raised ₹₹50 Cr. Cr. through its IPO at a price band of ₹₹120 to ₹126 per share, with a lot size of 1,000 shares. The IPO was open for subscription from 23 Dec 2025 to 26 Dec 2025.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 25 Aug, 12:56 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| No GMP history available yet. | |||||
Dhara Rail Projects SME IPO dates
Key dates from opening to listing. Today is 19 September.
- Open 23 Dec 2025
- Close 26 Dec 2025
- Allotment 29 Dec 2025
- Refund/credit 30 Dec 2025
- Listing 31 Dec 2025
Dhara Rail Projects SME IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹₹126 |
|---|---|
| Listing gain / loss | +₹12 per share |
| Listing date | 31 Dec, 2025 |
| Actual listing price | ₹138 (+9.52%) |
Is Dhara Rail Projects SME IPO GMP reliable?
Grey market premium for Dhara Rail Projects SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Dhara Rail Projects SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Dhara Rail Projects SME IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Dhara Rail Projects SME IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Dhara Rail Projects SME IPO
Dhara Rail Projects is an infrastructure-focused company engaged in railway engineering and allied construction activities in India. The company has gradually built its presence by executing projects related to track laying, signalling, electrification, and civil works for railway networks. With a focus on supporting the expansion and modernisation of Indian Railways, Dhara Rail Projects leverages technical expertise and on-ground execution capabilities to deliver projects across various regions.
The company’s business model revolves around securing contracts from government bodies and railway authorities through tenders, and executing them within defined timelines and cost structures. It offers end-to-end services including project planning, procurement, construction, and maintenance support. Promoted by experienced professionals with industry knowledge, Dhara Rail Projects aims to strengthen its order book by maintaining quality standards, timely delivery, and long-term relationships with clients in the infrastructure sector.
Frequently asked
What is the GMP of Dhara Rail Projects SME IPO?
The current Grey Market Premium (GMP) of Dhara Rail Projects SME IPO is not yet started or active in the market.
What is the Kostak Price of Dhara Rail Projects SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Dhara Rail Projects SME IPO is currently not available.
What is the Subject to Sauda Price of Dhara Rail Projects SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Dhara Rail Projects SME IPO?
Dhara Rail Projects SME IPO listed on December 31, 2025 at ₹138, against the issue price of ₹₹126 — a gain of +9.52%.
How did the GMP of Dhara Rail Projects SME IPO trend before listing?
The GMP of Dhara Rail Projects SME IPO was stable in its final days before listing. View the day-wise table above for the complete GMP history.
Explore Dhara Rail Projects SME IPO further
For a complete picture before making your investment decision, explore these resources.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
