Rays of Belief Limited
ListedMainboardHealthcare & Wellness · NSE / BSE
Rays of Belief is a social enterprise focused on providing personalized care and therapy for children with neurodevelopmental disorders such as autism, ADHD, and learning disabilities, aiming to improve access, affordability, and quality of support while also empowering parents. Starting with its first centre in Gurgaon in 2018, the company has expanded rapidly to over 130 centres across 57 cities in India, mainly in Tier 2 locations, under the brand Mom’s Belief. It offers services like early intervention, occupational and language therapy, along with family support programs for children typically aged 18 months to 12 years, and extended programs up to 15 years. Having supported over 56,000 children so far, the company also expanded internationally by acquiring Mom’s Belief US, adding centres in Virginia, further strengthening its reach and impact.
Price Band
₹227 – ₹239
Issue Size
₹523.00 L Cr
Lot Size
62 shares
GMP
₹15
+6.3%
Est. Listing
₹254
at current GMP
Subscribed
107.71x
overall
Open
1 Sep 2026
Close
3 Sep 2026
Allotment
4 Sep 2026
Refund
5 Sep 2026
Demat Credit
6 Sep 2026
Listing
8 Sep 2026
Last updated 20 days ago
Overall Subscription
107.71x
Total Demand
QIB Multiplier
9.06x
Institutions & Funds
NII / HNI
279.11x
High Net-Worth
Retail (RII)
195.87x
Individual Bidders
Category-Wise Subscription Breakup
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 1,830,310 | 16,576,630 | 9.06x |
| NIB | 784,500 | 218,965,648 | 279.11x |
| HNIs(10L +) | 523,000 | 158,898,374 | 303.82x |
| HNIs (2-10L) | 261,500 | 60,067,274 | 229.70x |
| RETAIL | 523,000 | 102,437,640 | 195.87x |
| Total | 3,922,310 | 556,945,566 | 107.71x |
Application-Wise Breakup
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| RETAIL | 8,435 | 1,459,809 | 173.07x |
| HNIs(10L +) | 603 | 37,445 | 62.10x |
| HNIs (2-10L) | 301 | 67,183 | 223.20x |
| Total Applications | 9,339 | 1,564,437 | 167.52x |
Day-Wise Subscription Progress
About Rays of Belief Limited Public Issue & Market Profile
Rays of Belief Limited is bringing an initial public offering (IPO) in the Healthcare & Wellness sector with an aggregate issue size of ₹52,30,000 Crores. The shares are offered at a price band of ₹227 to ₹239 per equity share on NSE and BSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.
Bidding & Quota Instructions:
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Allotment Reconciliation Schedule:
Following the close of bidding on 2026-09-03, the basis of allotment is scheduled to be finalized on 2026-09-04. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Kfin Technologies Limited) or the BSE allotment checking window.
Frequently Asked Questions
What is the issue size and price band for Rays of Belief Limited IPO?
The Rays of Belief Limited IPO aggregate issue size is ₹52,30,000 Crores with an equity price band set at ₹227 to ₹239 per equity share. The retail lot size is 62 shares requiring a minimum capital outlay of approx. ₹14,818.
How can I check Rays of Belief Limited IPO live subscription demand?
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. You can track QIB, NII/HNI, and Retail category multiples directly on our dedicated live subscription page.
Where will Rays of Belief Limited IPO allotment status be published?
The basis of allotment will be published on the official registrar portal (Kfin Technologies Limited) and the BSE status verification website on or around 2026-09-04.