Archive · 4 Sep 2026
Rays of Belief IPO Allotment, GMP and Listing Details
Rays of Belief sold shares to the public in an IPO.
The IPO price was between Rs 227 and Rs 239 per share.
Many more people applied than there were shares available.
Investors can check whether they received shares on the KFin Technologies, NSE or BSE websites.
They may need their application number, PAN or demat account details.
The grey market premium fell to Rs 12-15 per share after the IPO ended.
This suggested a relatively small possible gain when the shares listed.
Refunds were expected on September 7, and the shares were scheduled to begin trading on September 8.
Rays of Belief’s IPO was offered from September 1 to September 3 at Rs 227-239 per share.
The Rs 125 crore issue was subscribed 107.71 times, with more than 15.56 lakh applications.
Investors can check allotment through KFin Technologies, NSE or BSE using application and PAN details.
The latest grey market premium was Rs 12-15 per share, down from Rs 42-48 during bidding.
Refunds were expected on September 7, with shares scheduled to list on BSE and NSE on September 8.
- Who
- Rays of Belief Limited and investors who applied for its IPO; KFin Technologies Limited was the registrar.
- What
- The article provides instructions for checking IPO allotment status and details the issue’s subscription, grey market premium, refunds and listing.
- When
- The IPO ran from September 1 to September 3; refunds were expected on September 7 and listing was scheduled for September 8.
- Where
- Allotment can be checked on the KFin Technologies, NSE and BSE websites, and the shares were scheduled to list on BSE and NSE.
- Why
- Investors need to determine whether they received shares and understand the expected refund and listing timeline.
- Issue size
- Rs 125 crore
- Price band
- Rs 227-239 per share
- Subscription
- 107.71 times overall
- Lot size
- 62 equity shares and multiples thereafter
- Latest GMP
- Rs 12-15 per share
- Expected refunds
- September 7
- Scheduled listing
- September 8 on BSE and NSE