Data sourced from NSE · Compiled by IPO Ji · IPO subscription data last updated
Total 111.98x·QIB 71.30x·NII 199.77x·Individual 97.61x
Based on individual subscription by applications (97.61×), approximately 1 in 98 individual applications may receive an allotment. Final allotment is decided by the registrar’s computerised lottery.
Dhara Rail Projects Limited SME IPO was subscribed 111.98x in total when bidding closed on Dec 26, 2025, with 71.3x in the QIB category, 199.77x in NII, 97.61x in individual across NSE. This represents a strong oversubscription, reflecting heavy investor demand; a high subscription figure does not guarantee listing gains, and allotment follows the applicable category and exchange rules. The issue ran from Dec 23, 2025 to Dec 26, 2025 at a price band of ₹120–₹126 per share. Allotment was finalised on Dec 29, 2025.
| Category | Offer | Applied | Times |
|---|---|---|---|
| QIBs | 756000 | 53906000 | 71.3 |
| NIIs | 567000 | 113268000 | 199.77 |
| BNIIs (>10L) | 378000 | 90045000 | 238.21 |
| SNIIs (<10L) | 189000 | 23223000 | 122.87 |
| Individual | 1324000 | 129234000 | 97.61 |
| Total | 2647000 | 296408000 | 111.98 |
| Total Applications83,088 approx. |
|||
| Category | Reserve | Applied | Times |
|---|---|---|---|
| BNIIs (>10L) | 126 | 10,917 | 86.64 |
| SNIIs (<10L) | 63 | 7,483 | 118.78 |
| Individual | 662 | 64,617 | 97.61 |
| Total Applications83,088 approx. |
|||
| Category | Offered | Demand | Times |
|---|---|---|---|
| QIBs | 9.53 | 679.22 | 71.3 |
| FIIs | - | 122.13 | - |
| DIIs | - | 71.35 | - |
| Mutual Funds | - | 0.00 | - |
| Others | - | 485.73 | - |
| NIIs | 7.14 | 1427.18 | 199.77 |
| BNIIs (>10L) | 4.76 | 1134.57 | 238.21 |
| SNIIs (<10L) | 2.38 | 292.61 | 122.87 |
| Individual | 16.68 | 1628.35 | 97.61 |
| TOTAL | 33.35 | 3734.74 | 111.98 |
| As on | QIB |
NII
bHNI
sHNI
|
Individual | Total |
|---|---|---|---|---|
|
Day 1
23 Dec 2025
5:00 PM
|
4.55x |
2.35x
2.84x
1.36x
|
1.46x | 2.53x |
|
Day 2
24 Dec 2025
5:00 PM
|
4.55x |
7.57x
9.39x
3.92x
|
4.32x | 5.08x |
|
Day 3
26 Dec 2025
5:00 PM
|
71.30x |
199.77x
238.21x
122.87x
|
97.61x | 111.98x |
Anticipated subscription based on the number of applications received (an alternative to the shares-based figures above), sourced from NSE.
| Category | Times (by applications) |
|---|---|
| bHNI | 86.64x |
| sHNI | 118.78x |
| Individual | 97.61x |
Because Dhara Rail Projects closed oversubscribed, applicants were not guaranteed full allotment. In oversubscribed issues, shares are allotted according to the applicable category and exchange rules, so applicants are not guaranteed full allotment once an issue is oversubscribed. The number of times each category is subscribed is one indicator of demand, alongside the company's fundamentals and the broader market.
A high subscription figure reflects strong demand but does not guarantee a premium listing, and a low figure does not guarantee a discount. This page is for information only and is not investment advice. Investors should read the company's prospectus and consult a SEBI-registered adviser before making any decision.
IPO subscription status shows how many times an issue has been applied for, compared with the shares on offer, broken down by Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and the Retail or SME Individual Investor category. A figure of "2x" means investors applied for twice the shares available. See how IPO subscription works and track all live IPOs →
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