Dhara Rail Projects Limited IPO

Dhara Rail Projects Limited was incorporated in April 2010 and is an ISO 9001:2015 certified company. It was originally formed as a private limited company and later converted into a public limited company in August 2025. The company is promoted by Mr Tejas Lalit Mehta, Mrs Jagruti Tejas Mehta, and Ms Dhara Tejas Mehta. The company operates in the Indian railway infrastructure and services sector. It is engaged in executing contractual railway projects and providing specialised maintenance and repair services. Its operations include annual maintenance contracts and repair services for railway rolling stock systems, train lighting equipment, overhead equipment maintenance vehicles, power car equipment, and HVAC systems. It also undertakes supply, installation, testing, and commissioning of electrical equipment for various railway applications. Dhara Rail Projects primarily serves the Ministry of Railways, Government of India, through competitive tenders and collaborations with original equipment manufacturers. Its business model focuses on long-term service contracts, technical expertise, and compliance-driven execution. The company’s strengths lie in its experienced management, established relationships with Indian Railways, and the capability to service modern rolling stock, including advanced train systems.

The key management team of Dhara Rail Projects Limited includes: * Tejas Lalit Mehta: Chairman & Managing Director, possessing over 24 years of experience. * Jagruti Tejas Mehta: Whole Time Director, possessing over 24 years of experience. * Shivaraja Annappa Devadiga: Chief Financial Officer. * Suraj Bohra: Company Secretary and Compliance Officer. There are two independent directors on the board, Sachin Mahendra Sheth and Charmi Monil Shah. The board composition is in compliance with corporate governance requirements.