Bookbuilding IPO | ₹950 Cr | Listing at BSE, NSE |
SEBI has approved the Initial Public Offer (IPO) of Dhariwal Buildtech Ltd. on December 15, 2025. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.
Dhariwal Buildtech Ltd. IPO is a Book Build Issue of ₹950.00 crores consisting solely of fresh issue of shares with no offer for sale component.
The equity shares are proposed to be listed on NSE and BSE. SBI Capital Markets Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Dhariwal Buildtech IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹950 Cr) |
| Fresh Issue | [.] shares (agg. up to ₹950 Cr) |
| Share Holding Pre Issue | 9,51,31,800 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Sat, Sep 27, 2025 |
| SEBI/Exchange approval received | Mon, Dec 15, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Incorporated in 2016, Dhariwal Buildtech Limited is a Infrastructure Construction Company.
The company specializing in the construction of roads, highways, state highways, PMGSY roads, bridges, railway over bridges as well as tunnels, railways, irrigation, rural infrastructure and other civil works.
As of March 31, 2025, the company have 27 ongoing projects spread across India, wherein the clientele comprises of various government-owned entities and departments within the specific states.
Project Portfolio:
As of March 31, 2025, the company had 1,090 permanent employees.
Competitve Strengths:
Dhariwal Buildtech Ltd.'s revenue increased by 25% and profit after tax (PAT) rose by 46% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 1,053.42 | 604.43 | 286.72 |
| Total Income | 1,158.53 | 925.65 | 620.19 |
| Profit After Tax | 160.59 | 110.15 | 64.39 |
| EBITDA | 246.57 | 169.44 | 105.29 |
| NET Worth | 416.52 | 257.00 | 137.60 |
| Total Borrowing | 484.09 | 161.17 | 75.68 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or prepayment of all or a portion of certain outstanding borrowings availed by the Company | 174.23 |
| 2 | Investment in the Material Subsidiaries for repayment or prepayment of all or a portion of certain of its outstanding borrowings | 300.00 |
| 3 | Funding capital expenditure for purchase of construction equipment by the Company | 203.00 |
| 4 | General corporate purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 38.56% |
| ROCE | 24.64% |
| Debt/Equity | 1.16 |
| RoNW | 38.56% |
| PAT Margin | 13.93% |
| EBITDA Margin | 21.39% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100.00% |
Lead Manager Reports
Dhariwal Buildtech IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹950 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Dhariwal Buildtech IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Dhariwal Buildtech IPO using UPI as a payment gateway. Zerodha customers can apply in Dhariwal Buildtech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dhariwal Buildtech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dhariwal Buildtech IPO dates are not announced. Please check back again after some time.
Dhariwal Buildtech IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Dhariwal Buildtech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Dhariwal Buildtech IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Dhariwal Buildtech IPO allotment status.
The Dhariwal Buildtech IPO listing date is not yet announced. The tentative date of listing is .
