Mom’s Belief IPO: Rs 41 Cr Raise for Expansion on Sept 1

Rays of Belief Ltd, the company behind Mom’s Belief, is launching its Initial Public Offering on September 1, 2026, targeting Rs 41.36 crore in net proceeds for significant expansion.

The IPO, a fresh issue of up to 52.30 lakh equity shares, follows a pre-IPO private placement that secured Rs 5.89 crore. Anchor investor bidding is scheduled for August 31, with the offering closing on September 3.

Key Financials & IPO Details

• IPO Net Proceeds: Rs 41.36 crore
• Pre-IPO Placement: Rs 5.89 crore
• Equity Shares Offered: Up to 52.30 lakh
• FY26 Consolidated Revenue: Rs 81.66 crore
• FY26 Profit: Rs 4.96 crore

The Gurugram-based company plans to establish 319 new centers across India between fiscal years 2027 and 2029. This expansion will strategically focus on Tier-II and Tier-III cities to enhance access to neurodevelopmental care.

Funds from the IPO are specifically allocated for:

• Center Fit-outs: Rs 34.99 crore
• Therapy Material Inventory: Rs 1.93 crore
• Technology Hardware: Rs 4.44 crore

As of March 31, 2026, Rays of Belief operated 136 centers across 57 cities and 20 states and Union Territories. Since its inception in 2018, the company has provided services to over 58,000 children.

Market Position & Growth

A CARE report identifies Rays of Belief Ltd as India’s leading player and seventh globally among listed entities in the behavioral health sector by number of centers. The company specializes in personalized intervention programs for children with neurodevelopmental conditions.

Consolidated revenue from operations surged to Rs 81.66 crore in FY26, a notable increase from Rs 36.42 crore in FY25. However, profit for FY26 saw a slight decline, reaching Rs 4.96 crore compared to Rs 5.88 crore in FY25.

The equity shares will be listed on both the BSE and NSE, positioning Rays of Belief as a for-profit social enterprise amidst growing demand for specialized developmental therapies.