Comparison between Dhara Rail Projects IPO and Raksan Transformers IPO.
Dhara Rail Projects IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Raksan Transformers IPO is a SME Bookbuilding proposed to list at BSE SME.
| Dhara Rail Projects IPO | Raksan Transformers 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. | Hem Securities Ltd. |
| Registrar | Bigshare Services Pvt.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 Dhara Rail Projects IPO is up to ₹47.63 Cr whereas the issue size of the Raksan Transformers IPO is up to ₹0.00 Cr. The final issue price of Dhara Rail Projects IPO is ₹126.00 per share and of Raksan Transformers IPO is .
| Dhara Rail Projects IPO | Raksan Transformers 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 | 37,80,000 shares | 44,12,800 shares |
| Fresh Issue Size (Amount) | up to ₹47.63 Cr | up to ₹0.00 Cr |
| OFS Issue Size | 0 shares | 11,00,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 37,80,000 shares | 55,12,800 shares |
| Issue Size Total (Amount) | up to ₹47.63 Cr | up to ₹0.00 Cr |
Dhara Rail Projects IPO opens on Dec 23, 2025, while Raksan Transformers IPO opens on . The closing date of Dhara Rail Projects IPO and Raksan Transformers IPO is Dec 26, 2025, and , respectively.
| Dhara Rail Projects IPO | Raksan Transformers 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 |
Dhara Rail Projects IPO P/E ratio is 21.43, as compared to Raksan Transformers IPO P/E ratio of .
| Dhara Rail Projects IPO | Raksan Transformers IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 Consolidated)Raksan Transformers Ltd.'s revenue increased by 100% and profit after tax (PAT) rose by 166% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 98.33 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 72.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 21.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹190.06 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 67.85 | 59.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 25.59 | 43.23 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.66 | 0.54 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.88 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 50.66 | 45.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Dhara Rail Projects IPO Retail Individual Investors (RII) are offered 13,24,000 shares while in Raksan Transformers 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 0 shares in Raksan Transformers IPO.
| Dhara Rail Projects IPO | Raksan Transformers IPO | |
|---|---|---|
| Anchor Investor Reservation | 11,33,000 shares | 0 shares |
| Market Maker Reservation | 2,04,000 shares | 0 shares |
| QIB | 7,56,000 shares | 0 shares |
| NII | 5,67,000 shares | 0 shares |
| RII | 13,24,000 shares | 0 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 37,80,000 shares | 0 shares |
Dhara Rail Projects IPO subscribed 78.36x in total, whereas Raksan Transformers IPO subscribed .
| Dhara Rail Projects IPO | Raksan Transformers 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) | 78.36x |
