BY THE NUMBERS.
TICKET CLASSES.
HOW FULL THE BUS GOT.
WHAT THE CHATTER IMPLIES.
GMP +₹32 (+13.39%)
RECORDED 02 SEPT 2026, 15:54 IST
HOW THE ISSUE IS BUILT.
The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.
WHO GETS WHICH SEATS.
ON THE DASHBOARD.
THE RUNNING RECORD.
WHAT THE MONEY IS FOR.
Rays of Belief Limited is the parent company of Mom’s Belief , a child development and therapy organization focused on supporting children with autism and other developmental challenges. The company adopts evidence-based approaches to develop personalized intervention programs aimed at improving children's developmental, behavioural, communication, and functional abilities. Through its Integrated Learning Centres, Rays of Belief provides children with access to multidisciplinary support in an inclusive and nurturing environment. Its programs are delivered by professionals specializing in areas such as child psychology, speech and language, behavioural therapy, and occupational therapy, with an emphasis on the child's overall development and emotional well-being. Key Services: Occupational Therapy: Helps children develop motor skills, coordination, independence, and abilities required for everyday activities. Speech Therapy: Focuses on improving speech, language development, communication, and expressive abilities. Special Education: Provides personalized educational interventions tailored to children's individual learning requirements and developmental needs. Applied Behaviour Analysis (ABA): Uses structured, behaviour-based techniques to support skill development and address behavioural challenges. Language and Communication Therapy: Supports the development of verbal, non-verbal, and social communication skills. Adult Counselling: Provides guidance and emotional support to parents and caregivers in addressing challenges associated with supporting children with developmental needs.
ON THE ROSTER.
COMMON QUESTIONS.
What is the Rays of Belief IPO price band?+
The indicative price band is ₹239 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).
What is the lot size of the Rays of Belief IPO?+
One lot is 62 shares. At the upper band of ₹239, one lot works out to ₹14,818.
How many lots can a retail investor apply for in the Rays of Belief IPO?+
A retail application runs from 1 lot (62 shares, ₹14,818) up to 13 lots (806 shares, ₹1,92,634) — the most that fits under SEBI's ₹2 lakh retail ceiling.
What is the minimum HNI application in the Rays of Belief IPO?+
A small-HNI (sHNI) application starts at 14 lots — 868 shares, ₹2,07,452. A big-HNI (bHNI) application starts at 68 lots — 4,216 shares, ₹10,07,624, above the ₹10 lakh boundary.
When does the Rays of Belief IPO open and close?+
The issue opened on 01 Sept 2026 and closed on 03 Sept 2026. Dates can move — the registrar and the exchange notices are the record.
When is the Rays of Belief IPO allotment?+
Allotment is scheduled for 04 Sept 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.
When does Rays of Belief list?+
Listing is scheduled for 08 Sept 2026 on NSE, BSE.
Where will Rays of Belief be listed?+
Rays of Belief is proposed for listing on NSE, BSE. It is a mainboard issue.
How large is the Rays of Belief IPO?+
The issue size is ₹125.00 Cr — a fresh issue of ₹125 cr. Figures are indicative and subject to the RHP.
What is the grey market premium (GMP) for the Rays of Belief IPO?+
The last GMP we recorded is +₹32 (+13.39%), as at 02 SEPT 2026, 15:54 IST. GMP is unofficial grey-market chatter. It is not a quote from any exchange, it is not a price anyone is obliged to honour, it moves through the day and it often does not match the eventual listing price. We publish it as information only.
What listing price does the GMP imply for Rays of Belief?+
Adding the last recorded GMP to the upper band gives ₹271. That is a calculation, not a forecast or an investment recommendation, and it is built on an unofficial grey-market figure.
How was the Rays of Belief IPO subscribed?+
The issue was subscribed 2.97× overall. By category: qib 0.01×, nii 2×, small hni 3.82×, big hni 1.09×, retail 18.05×. Subscription figures are as reported by the exchanges.
Who is the registrar for the Rays of Belief IPO?+
The registrar to the issue is Kfin Technologies Ltd. (040-79615565), robl.ipo@kfintech.com.
Where can I check the Rays of Belief IPO allotment status?+
Allotment status is published by the registrar on its own official portal: https://ipostatus.kfintech.com/. Use the registrar's site directly — BuyUnlistedShares does not ask for PAN, application numbers or any other applicant detail.