Dhara Rail Projects IPO Subscription Status
Dhara Rail Projects IPO was subscribed 112.01 times when bidding closed on 26 Dec 2025: QIB 71.3x, NII 199.78x, Retail 97.66x.
The Dhara Rail Projects IPO has been subscribed 112.01x times overall. Retail investors have shown interest with bids for 97.66x the shares available. The Non-Institutional Investor (NII) category has been subscribed 199.78x. Qualified Institutional Buyers (QIBs) have subscribed 71.3x. Data last updated on 25 Aug, 12:56 PM.
The IPO subscription period has ended. Given the strong demand, the allotment process is expected to be highly competitive. The issue opened on 23 Dec, 2025 and closes on 26 Dec, 2025. The shares are expected to list on stock exchanges on 31 Dec, 2025.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Live bidding
Shares bid against shares offered, category by category, as published by the exchanges. Summary splits NII into bHNI (above ₹10 lakh) and sHNI (₹2–10 lakh); switch to Detailed for the exchange's own sub-category rows.
| Category | Bid details | Times |
|---|---|---|
| QIB | 5,39,06,000 of 7,56,000 | 71.30x |
| NII | 11,32,77,000 of 5,67,000 | 199.78x |
| Retail | 12,93,00,000 of 13,24,000 | 97.66x |
| TOTAL | 29,64,83,000 | 112.01x |
Application-wise breakup (estimated)
Approximate application counts — the exchanges don't publish these during bidding. Estimated from shares bid using the typical application size seen in recent IPOs' Basis of Allotment data. Max Applications is the number of allotment slots: one lot per retail winner, and the minimum NII application (the smallest lot count above ₹2 lakh) per sHNI and bHNI winner. Final counts appear here once the Basis of Allotment is out.
| Category | Est. Applied | Times | |
|---|---|---|---|
| Retail max 13,24,000 | 6,42,86,116 | 48.55x | |
| TOTAL (EST.) | 6,42,86,116 |
Dhara Rail Projects IPO allotment probability
Your odds of an allotment in each category at the current subscription.
Odds = allotment slots ÷ applications, or the subscription multiple where counts aren't available. Retail and HNI allotment is by lottery; QIB is proportionate. Not investment advice.
Subscription insights
What the current book is saying, read off the category numbers above.
Retail Allotment
High demand detected. The retail category is heavily oversubscribed, making the allotment a lottery where only 1 out of every 98 applicants will be successful.
Institutional Backing
Massive institutional interest with QIBs subscribing 71.3x. This often signals long-term confidence from professional funds.
Day-wise subscription history
End-of-day subscription across the 3-day bidding window. On phones, tap a day for the category split.
| Date | Total | ||
|---|---|---|---|
|
26 Dec 2025
Day 3 |
111.90x | ▼ | |
|
QIB71.30x
NII199.41x
Retail97.61x
|
|||
|
24 Dec 2025
Day 2 |
5.02x | ▼ | |
|
QIB4.55x
NII7.21x
Retail4.35x
|
|||
|
23 Dec 2025
Day 1 |
2.54x | ▼ | |
|
QIB4.55x
NII2.35x
Retail1.48x
|
|||
Dhara Rail Projects SME IPO dates
From the bidding window to listing. Today is 30 October.
- Open 23 Dec 2025
- Close 26 Dec 2025
- Allotment 29 Dec 2025
- Refund/credit 30 Dec 2025
- Listing 31 Dec 2025
What does this subscription data mean?
IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:
- 01 QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
- 02 NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
- 03 Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
- 04 Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.
Data sourced from BSE/NSE. Subscription numbers are updated during bidding hours (10 AM – 5 PM IST) on active subscription days.
Frequently asked
What is the current subscription status of Dhara Rail Projects IPO?
As of IPO close date (26 Dec, 2025), the Dhara Rail Projects IPO is subscribed 112.01x times. Retail category is 97.66x, and NII is 199.78x subscribed.
When is the allotment date for Dhara Rail Projects IPO?
The allotment for Dhara Rail Projects IPO is expected to be finalized on 29 December, 2025.
When will Dhara Rail Projects IPO list on the stock market?
Dhara Rail Projects is scheduled to list on BSE and NSE on 31 December, 2025.
What are the chances of getting allotment in Dhara Rail Projects IPO?
The retail category is oversubscribed at 97.66x, meaning allotment is by lottery. Statistically, approximately 1 in 98 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.
What does QIB subscription of 71.3x mean for Dhara Rail Projects IPO?
Strong — QIBs (mutual funds, FIIs, insurance companies) have subscribed 71.3x, indicating high institutional conviction. Heavy QIB demand is historically one of the strongest predictors of a positive listing.
How to check Dhara Rail Projects IPO allotment status?
After the allotment date (29 Dec, 2025), you can check your Dhara Rail Projects IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.
Explore Dhara Rail Projects SME IPO further
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Not investment advice. Subscription figures are as published by BSE/NSE and change until bidding closes.
