GMP IPO Watch
Rays of Belief IPO
Rays of Belief IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Rays of Belief IPO Details
Key facts at a glance| IPO Open Date | 31 August 2026 | IPO Close Date | 2 September 2026 |
|---|---|---|---|
| Basis of Allotment | 3 September 2026 | Listing Date | 7 September 2026 |
| Price Band | ₹227 - ₹239 per share | Face Value | ₹10 per share |
| Market Lot Size | 62 Shares | Min Investment (Retail) | ₹14,818 |
| Total Issue Size | ₹125 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹125 Cr | Offer for Sale (OFS) | — |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
Rays of Belief IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 31 August 2026 | Confirmed |
| IPO Close Date | 2 September 2026 | Confirmed |
| Basis of Allotment | 3 September 2026 | Tentative |
| Initiation of Refunds | 7 September 2026 | Tentative |
| Credit of Shares to Demat | 7 September 2026 | Tentative |
| IPO Listing Date | 7 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 3 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Rays of Belief IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 62 Shares | ₹14,818 |
| Retail (Max) | 13 Lots | 806 Shares | ₹1,92,634 |
| S-HNI (Min) | 14 Lots | 868 Shares | ₹2,07,452 |
| S-HNI (Max) | 67 Lots | 4,154 Shares | ₹9,92,806 |
| B-HNI (Min) | 68 Lots | 4,216 Shares | ₹10,07,624 |
Rays of Belief IPO Live GMP & Movement History
Daily unofficial grey market trends₹15 +6.3%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 8 Sept 2026 | ₹15 | ₹254.00 | +6.28% |
| 7 Sept 2026 | ₹20 | ₹259.00 | +8.37% |
| 6 Sept 2026 | ₹12 | ₹251.00 | +5.02% |
| 3 Sept 2026 | ₹47 | ₹286.00 | +19.67% |
| 2 Sept 2026 | ₹38 | ₹277.00 | +15.90% |
| 1 Sept 2026 | ₹48 | ₹287.00 | +20.08% |
| 31 Aug 2026 | ₹25 | ₹264.00 | +10.46% |
| 28 Aug 2026 | ₹18 | ₹257.00 | +7.53% |
| 27 Aug 2026 | ₹15 | ₹254.00 | +6.28% |
| 26 Aug 2026 | ₹0 | ₹239.00 | 0.00% |
| 24 Aug 2026 | ₹0 | ₹239.00 | +0.00% |
Rays of Belief IPO Subscription Status
Demand breakdown by investor categoryAbout Rays of Belief
Rays of Belief is a for-profit social enterprise delivering personalized intervention plans for children with neurodevelopmental disorders such as ASD, ADHD, and Down Syndrome. Operating an asset-light model, it runs Company Learning Centres, professional partnerships, and school collaborations across India and the US. Revenue comes from in-person centre operations, online therapy services, and export earnings via global R&D coordination and programmatic innovation, all delivered through accessible, family-centric care.
Rays of Belief IPO Reservation & Share Quotas
The Rays of Belief IPO reservation is divided among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs) and Retail Individual Investors.
As per the provided category-wise allocation, 75% of the issue is allocated to Qualified Institutional Buyers, 15% is allocated to Non-Institutional Investors, while 10% is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 75% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 10% |
Rays of Belief IPO Anchor Investors
The Rays of Belief IPO anchor bidding is scheduled for August 31, 2026, one working day before the public issue opens for subscription on September 1, 2026.
The final anchor investor list, number of shares allocated and total anchor investment amount are currently awaited. These details will be available after completion of the anchor bidding and final allocation.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 31, 2026 |
| Anchor Investors List | |
| Shares Offered | – Shares |
| Anchor Size | – Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | 2026 |
Rays of Belief IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 01 Sept 2026 |
| IPO Close Date | 03 Sept 2026 |
| Basis of Allotment | 04 Sept 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 08 Sept 2026 |
Note: The timeline for विश्वास की किरणें IPO is tentative and subject to change.
Rays of Belief Promoters and Shareholding Pattern
The promoters of Rays of Belief are Nitin Bindlish and Carving Futures Pte. Ltd. Before the IPO, the promoter and promoter group collectively hold 1,43,74,264 equity shares, representing approximately 91.72% of the company's pre-IPO equity share capital.
Other shareholders hold 12,97,418 equity shares, accounting for approximately 8.28% of the pre-IPO shareholding. The company's total pre-IPO outstanding equity shares stand at 1,56,71,682.
Following the fresh issue, the company's total outstanding equity shares are expected to increase to 2,09,01,682 shares.
Promoters of Rays of Belief
- Nitin Bindlish
- Carving Futures Pte. Ltd.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 1,43,74,264 | 91.72% | – | -% |
| Others* | 12,97,418 | 8.28% | – | -% |
| Total | 1,56,71,682 | 100% | 2,09,01,682 | 100% |
Rays of Belief Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Rays of Belief About the IPO
Rays of Belief, started in 2017, is a for-profit social enterprise that offers customized intervention programs for children with Neurodevelopmental Disorders (NDDs). The conditions they help with are Autism Spectrum Disorder (ASD), ADHD, Down Syndrome, Cerebral Palsy, Intellectual Disability, Learning Disabilities, and Global Developmental Delays.
The company serves children between the ages of 18 months and 12 years, while also offering specialised programs for children up to 15 years, which teach vocational and life skills to help them become more independent. Its services include early intervention, Parental guidance, Occupational therapy, Language therapy, and family support programs. Furthermore, the company has a large range of learning resources, including 150+ teaching tools at centres, 2,000+ tools for home learning, Regular follow-ups, Progress monitoring, and 340+ clinical professionals.
Rays of Belief Company Financial Report
To Be Updated Soon
Rays of Belief Company Valuation & Key Performance Indicators
To Be Updated Soon
Rays of Belief Peer Group Comparison
To Be Updated Soon
Rays of Belief Lead Managers & Merchant Bankers
- Mefcom Capital Markets Ltd.
Rays of Belief IPO FAQs
Rays of Belief IPO opens for subscription on 31 August 2026 and closes on 2 September 2026.
The price band for Rays of Belief IPO is set at ₹227.00 to ₹239.00 per share.
The minimum market lot size is 62 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 62 Shares (₹14,818).
The latest Grey Market Premium (GMP) for Rays of Belief IPO is ₹15. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Rays of Belief IPO is tentatively scheduled for 3 September 2026, and shares are expected to list on the stock exchanges on 7 September 2026.
The registrar details will be confirmed in the official prospectus.