Comparison between Apana Logistics IPO and Dhara Rail Projects IPO.
Apana Logistics IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Dhara Rail Projects IPO is a SME Bookbuilding proposed to list at NSE SME.
| Apana Logistics IPO | Dhara Rail Projects IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Fixed Price | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Corporate Makers Capital Ltd. | Hem Securities Ltd. |
| Registrar | Kfin Technologies Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Hem Finlease Pvt.Ltd. | |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL |
The total issue size of Apana Logistics IPO is up to ₹0.00 Cr whereas the issue size of the Dhara Rail Projects IPO is up to ₹47.63 Cr. The final issue price of Apana Logistics IPO is and of Dhara Rail Projects IPO is ₹126.00 per share.
| Apana Logistics IPO | Dhara Rail Projects IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹120.00 per share | |
| Issue Price (Upper) | ₹126.00 per share | |
| Issue Price (Final) | ₹126.00 per share | |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | |
| Fresh Issue Size | 56,90,000 shares | 37,80,000 shares |
| Fresh Issue Size (Amount) | up to ₹0.00 Cr | up to ₹47.63 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 56,90,000 shares | 37,80,000 shares |
| Issue Size Total (Amount) | up to ₹0.00 Cr | up to ₹47.63 Cr |
Apana Logistics IPO opens on , while Dhara Rail Projects IPO opens on Dec 23, 2025. The closing date of Apana Logistics IPO and Dhara Rail Projects IPO is , and Dec 26, 2025, respectively.
| Apana Logistics IPO | Dhara Rail Projects IPO | |
|---|---|---|
| Anchor Bid Date | Dec 22, 2025 | |
| Issue Open | Dec 23, 2025 | |
| Issue Close | Dec 26, 2025 | |
| Basis Of Allotment (Tentative) | Dec 29, 2025 | |
| Initiation of Refunds (Tentative) | Dec 30, 2025 | |
| Credit of Share (Tentative) | Dec 30, 2025 | |
| Listing date (Tentative) | Dec 31, 2025 | |
| Anchor Lockin End date 1 | Jan 28, 2026 | |
| Anchor Lockin End date 2 | Mar 29, 2026 |
Apana Logistics IPO P/E ratio is , as compared to Dhara Rail Projects IPO P/E ratio of 21.43.
| Apana Logistics IPO | Dhara Rail Projects IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated)Apana Logistics Ltd.'s revenue increased by 6% and profit after tax (PAT) rose by 5% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)Dhara Rail Projects Ltd.'s revenue increased by 40% and profit after tax (PAT) rose by 120% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 100 | 98.33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 72.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 21.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹190.06 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 23.64 | 67.85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 26.57 | 25.59 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.56 | 1.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.88 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 23.64 | 50.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Apana Logistics IPO Retail Individual Investors (RII) are offered 0 shares while in Dhara Rail Projects IPO retail investors are offered 0 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Apana Logistics IPO and 7,56,000 shares in Dhara Rail Projects IPO.
| Apana Logistics IPO | Dhara Rail Projects IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 11,33,000 shares |
| Market Maker Reservation | 0 shares | 2,04,000 shares |
| QIB | 0 shares | 7,56,000 shares |
| NII | 0 shares | 5,67,000 shares |
| RII | 0 shares | 13,24,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 0 shares | 37,80,000 shares |
Apana Logistics IPO subscribed in total, whereas Dhara Rail Projects IPO subscribed 111.90x.
| Apana Logistics IPO | Dhara Rail Projects IPO | |
|---|---|---|
| QIB (times) | 71.30x | |
| NII (times) | 199.41x | |
| Big NII (times) | 237.67x | |
| Small NII (times) | 122.87x | |
| RII (times) | 97.61x | |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 111.90x |
