Dhara Rail Projects made a strong debut on the NSE SME platform, listing at ₹150 per share, a 19% premium over its IPO price of ₹126. The ₹50.2 crore IPO, which was fully a fresh issue, saw significant investor demand, being oversubscribed by over 100 times. Proceeds from the offering are allocated towards working capital needs and debt reduction. The company specializes in maintenance and repair services for railway rolling stock systems.