Comparison between Dhara Rail Projects IPO and Highness Microelectronics IPO.
Dhara Rail Projects IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Highness Microelectronics IPO is a SME Bookbuilding proposed to list at BSE SME.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Hem Securities Ltd. | Fintellectual Corporate Advisors Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | Skyline Financial Services Pvt.Ltd. |
| Market Maker | Hem Finlease Pvt.Ltd. | Rainbow Securities Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Dhara Rail Projects IPO is up to ₹47.63 Cr whereas the issue size of the Highness Microelectronics IPO is up to ₹20.58 Cr. The final issue price of Dhara Rail Projects IPO is ₹126.00 per share and of Highness Microelectronics IPO is ₹120.00 per share.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹120.00 per share | ₹114.00 per share |
| Issue Price (Upper) | ₹126.00 per share | ₹120.00 per share |
| Issue Price (Final) | ₹126.00 per share | ₹120.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 1200 shares |
| Fresh Issue Size | 37,80,000 shares | 15,62,400 shares |
| Fresh Issue Size (Amount) | up to ₹47.63 Cr | up to ₹18.75 Cr |
| OFS Issue Size | 0 shares | 1,52,400 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹1.83 Cr |
| Issue Size Total | 37,80,000 shares | 17,14,800 shares |
| Issue Size Total (Amount) | up to ₹47.63 Cr | up to ₹20.58 Cr |
Dhara Rail Projects IPO opens on Dec 23, 2025, while Highness Microelectronics IPO opens on Mar 24, 2026. The closing date of Dhara Rail Projects IPO and Highness Microelectronics IPO is Dec 26, 2025, and Mar 27, 2026, respectively.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |
|---|---|---|
| Anchor Bid Date | Dec 22, 2025 | Mar 23, 2026 |
| Issue Open | Dec 23, 2025 | Mar 24, 2026 |
| Issue Close | Dec 26, 2025 | Mar 27, 2026 |
| Basis Of Allotment (Tentative) | Dec 29, 2025 | Mar 30, 2026 |
| Initiation of Refunds (Tentative) | Dec 30, 2025 | Apr 01, 2026 |
| Credit of Share (Tentative) | Dec 30, 2025 | Apr 01, 2026 |
| Listing date (Tentative) | Dec 31, 2025 | Apr 02, 2026 |
| Anchor Lockin End date 1 | Jan 28, 2026 | May 01, 2026 |
| Anchor Lockin End date 2 | Mar 29, 2026 | Jun 30, 2026 |
Dhara Rail Projects IPO P/E ratio is 21.43, as compared to Highness Microelectronics IPO P/E ratio of 16.7.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | 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.
| Company Financials (Restated)
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 98.33 | 99.90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 72.36 | 64.96 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 21.43 | 16.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹190.06 Cr. | ₹61.96 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 67.85 | 47.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 25.59 | 42.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.66 | 0.74 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.88 | ₹7.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 50.66 | 47.09 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Dhara Rail Projects IPO Retail Individual Investors (RII) are offered 13,24,000 shares while in Highness Microelectronics IPO retail investors are offered 13,24,000 shares. Qualified Institutional Buyers (QIB) are offered 7,56,000 shares in Dhara Rail Projects IPO and 3,42,000 shares in Highness Microelectronics IPO.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |
|---|---|---|
| Anchor Investor Reservation | 11,33,000 shares | 5,11,200 shares |
| Market Maker Reservation | 2,04,000 shares | 91,200 shares |
| QIB | 7,56,000 shares | 3,42,000 shares |
| NII | 5,67,000 shares | 2,59,200 shares |
| RII | 13,24,000 shares | 6,02,400 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 37,80,000 shares | 17,14,800 shares |
Dhara Rail Projects IPO subscribed 78.36x in total, whereas Highness Microelectronics IPO subscribed 136.11x.
| Dhara Rail Projects IPO | Highness Microelectronics IPO | |
|---|---|---|
| QIB (times) | 71.30x | 81.95x |
| NII (times) | 199.41x | 362.12x |
| Big NII (times) | 237.67x | 437.22x |
| Small NII (times) | 122.87x | 211.92x |
| RII (times) | 97.61x | 185.11x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 78.36x | 136.11x |
