Archive · 29 Aug 2026
Rays of Belief IPO opens September 1 with 12% premium
Rays of Belief is planning to sell shares to the public.
Its IPO is scheduled to open on September 1 and close on September 3.
Each share will cost between ₹227 and ₹239.
The unofficial market suggests the shares could list at about ₹268, but this estimate is not guaranteed.
The company works with children who have neurodevelopmental disorders.
It wants to use the IPO money to open 319 new centres.
Most of the planned spending will go toward preparing these centres.
The company’s revenue grew strongly in FY26, but its profit became smaller.
Shares are expected to be listed on September 8.
Rays of Belief IPO subscription is scheduled from September 1 to September 3, with a price band of ₹227–₹239 per share.
The grey market premium of ₹29 indicates an estimated listing price of ₹268, or 12.13% above the upper issue price.
The entirely fresh issue comprises up to 52.30 lakh equity shares and has no offer-for-sale component.
The company plans to use ₹41.36 crore of proceeds to support 319 new centres planned between FY27 and FY29.
Revenue rose to ₹81.66 crore in FY26 from ₹36.42 crore in FY25, while profit fell to ₹4.96 crore from ₹5.88 crore.
- Who
- Rays of Belief Ltd., a for-profit social enterprise serving children with neurodevelopmental disorders.
- What
- The company is launching an IPO of up to 52.30 lakh fresh equity shares.
- When
- Subscription is scheduled for September 1–3; allotment is expected on September 4 and listing on September 8.
- Where
- The shares are expected to list on the BSE and NSE.
- Why
- The company plans to fund its expansion, including 319 new centres from FY27 to FY29.
- IPO price band
- ₹227–₹239 per equity share
- Grey market premium
- ₹29, indicating an estimated ₹268 listing price, or 12.13% above the upper price band
- Issue size
- Up to 52.30 lakh equity shares
- Face value
- ₹10 per equity share
- Lot size
- 62 shares and multiples of 62 thereafter
- Expansion plan
- 319 new centres planned from FY27 to FY29
- Issue proceeds
- ₹41.36 crore, including ₹34.99 crore for centre fit-outs, ₹1.93 crore for therapy-material inventory, and ₹4.44 crore for technology hardware