Rays of Belief IPO Opens: 12.55% Listing Gain Expected
By IPO Desk
Rays of Belief IPO opens Sept 1st at ₹227-₹239. Grey market premium suggests a 12.55% listing gain. Funds to expand neurodevelopmental disorder centers.
The Rays of Belief IPO launches for subscription on September 1st, with market indicators pointing to a potential 12.55% listing gain. The social enterprise, founded in 2017, aims to raise capital for significant expansion plans.
Key IPO Details
- Opening Date: September 1st
- Closing Date: September 3rd
- Price Band: ₹227 to ₹239 per equity share
- Grey Market Premium (GMP): ₹30
- Estimated Listing Price: ₹269
- Anticipated Listing Gain: 12.55%
- Lot Size: 62 equity shares
- Fresh Issue: Up to 52.30 lakh equity shares
Anchor investor allocation is set for August 31st. Allotment is tentatively expected by September 4th, with shares listing on BSE and NSE by September 8th.
Company Vision & Growth
Rays of Belief Ltd. focuses on intervention programs for children with Neurodevelopmental Disorders, including Autism Spectrum Disorder, ADHD, and Down Syndrome. The IPO proceeds will fund expansion, specifically establishing 319 new centers between FY27 and FY29.
The company reported consolidated revenue doubling to ₹81.66 crore in FY26, up from ₹36.42 crore in FY25. However, profitability saw a decline to ₹4.96 crore in FY26 from ₹5.88 crore in the preceding fiscal year.
IPO Structure & Management
The public issue is structured with specific allocations: not more than 75% for qualified institutional buyers, not less than 15% for non-institutional investors, and not less than 10% for retail investors.
Mefcom Capital Markets is serving as the lead manager for the IPO, with Kfin Technologies appointed as the official registrar.