The Rays of Belief is set to open for subscription on Tuesday, 1 September. The Rays of Belief IPO GMP today, or grey market premium, stands at ₹29, indicating positive sentiment in the unofficial market.
Founded in 2017, Rays of Belief Ltd. is a for-profit social enterprise that provides customised intervention programmes for children with Neurodevelopmental Disorders (NDDs). Its services cater to children with conditions including Autism Spectrum Disorder (ASD), ADHD, Down Syndrome, Cerebral Palsy, Intellectual Disability, Learning Disabilities and Global Developmental Delays.
The company recorded strong revenue growth in FY26, with consolidated revenue from operations more than doubling to ₹81.66 crore from ₹36.42 crore in FY25. However, profitability declined, with profit for the year falling to ₹4.96 crore in FY26 from ₹5.88 crore in the previous fiscal.
Here are the 10 key things to know about Rays of Belief IPO
Rays of Belief IPO GMP today: Rays of Belief IPO GMP today oris +29. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rays of Belief share price was indicated at ₹268 apiece, which is 12.13% higher than the IPO price of ₹239.
Rays of Belief IPO date: The IPO opens for subscription on Tuesday, 1 September, and closes on Thursday, 3 September.
Rays of Belief IPO price band: The IPO price band has been fixed in the range of ₹227 to ₹239 per equity share of face value of ₹10.
Rays of Belief IPO lot size: The IPO lot size is 62 equity shares and in multiples of 62 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Rays of Belief IPO is scheduled to take place on Monday, 31 August.
Rays of Belief IPO details: The public issue comprises an entirely fresh issue of up to 52.30 lakh equity shares, with no offer-for-sale () component.
Rays of Belief IPO objective: The funds generated from the IPO will be utilised to facilitate the company’s upcoming expansion phase, which includes setting up 319 new centres from FY27 to FY29. Of the total ₹41.36 crore, approximately ₹34.99 crore is earmarked for centre fit-outs, ₹1.93 crore for therapy-material inventory, and ₹4.44 crore for technology hardware.
Rays of Belief IPO listing date and allotment details: The Rays of Belief IPO allotment is tentatively expected to be finalised on Friday, 4 September. The company is likely to initiate refunds on Monday, 7 September, with shares credited to the demat accounts of successful allottees on the same day. The Rays of Belief share price is expected to list on the BSE and NSE on Tuesday, 8 September.
Lead Manager and Registrar of Rays of Belief IPO: Mefcom Capital Markets is the book-running lead manager, while Kfin Technologies is the registrar to the issue.
Rays of Belief IPO reservation: Rays of Belief IPO has reserved not more than 75% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 10% of the offer is reserved for retail investors.
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