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Rays of Belief IPO Set for Tuesday Debut
Rays of Belief is a company that helps children with certain developmental conditions.
It sold shares to the public through an IPO.
The shares are expected to begin trading on Tuesday, 8 September, on BSE and NSE.
Many investors applied for the shares, so the IPO was subscribed more than 107 times.
In the grey market, the shares are being traded at about ₹20 above their IPO price.
This suggests a possible first trading price of around ₹259.
The company plans to use much of the money to open 319 new centres.
These centres are planned to be added between FY27 and FY29.
Rays of Belief shares are scheduled to list on BSE and NSE on Tuesday, 8 September.
The IPO was subscribed 107.71 times overall, including 195.87 times by retail investors.
The grey-market premium is ₹20, implying an estimated listing price of ₹259, about 8% above the ₹239 issue price.
The offering comprised 52.30 lakh fresh equity shares, with no offer-for-sale component.
The company plans to use ₹41.36 crore of proceeds toward opening 319 new centres between FY27 and FY29.
- Who
- Rays of Belief, a for-profit social enterprise providing personalised intervention programmes for children with neurodevelopmental disorders.
- What
- Its IPO shares are scheduled to debut, with grey-market signals indicating a possible premium listing.
- Where
- The shares will be listed on BSE and NSE.
- When
- The listing is scheduled for Tuesday, 8 September; allotment was finalised on 4 September, after bidding from 1 to 3 September.
- Why
- The company is raising funds largely to expand its network by setting up 319 new centres between FY27 and FY29.
Key facts
- Listing date
- Tuesday, 8 September
- IPO issue price
- ₹239 per share
- Grey-market premium
- ₹20
- Estimated listing price
- ₹259, or about 8% above the issue price
- Overall subscription
- 107.71 times
- Issue size
- 52.30 lakh fresh equity shares
- Planned expansion
- 319 new centres between FY27 and FY29
Sources
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