Rays of Belief Ltd Listed
Incorporated in 2017, Rays of Belief Ltd. is a for-profit social enterprise providing personalised intervention plans for children with Neurodevelopmental Disorders (NDDs), including Autism Spectrum Disorder (ASD),...
GREY MARKET PREMIUM
+₹10
▲ +4.18% vs issue price
Issue Price
₹239.00
Est. Listing Price
₹249.00
Lot Size
62
Issue Details
Open Date
2026-09-01
Close Date
2026-09-03
Allotment
2026-09-04
Face Value
₹10.00
Total Issue Size
52,30,000 shares (agg. up to ₹125 Cr) Cr
Issue Type
Bookbuilding IPO
Exchange
NSE & BSE
Subscription Status
| Category | Subscription (x) | Shares Offered | Shares Bid |
|---|---|---|---|
| QIB | 9.06x | 1830310.00 | 16576630.00 |
| NII (HNI) | 279.11x | 784500.00 | 218965648.00 |
| Retail | 195.86x | 523000.00 | 102437330.00 |
| Market Maker | 1x | - | - |
| Total | 107.71x | 3137810.00 | 337979608.00 |
Financials (₹ Cr)
| Period | Revenue | PAT | EBITDA | Net Worth |
|---|---|---|---|---|
| 31 Mar 2026 | 82.06 | 4.96 | 11.91 | 30.81 |
| 31 Mar 2025 | 36.54 | 5.88 | 3.02 | 15.02 |
| 31 Mar 2024 | 30.76 | 0.85 | 1.49 | 5.78 |
Key Ratios
Return on Equity
21.64
Return on Capital Employed
29.74
Return on Net Worth
21.64
PAT / Revenue
6.07
EBITDA / Revenue
14.59
Debt to Equity
0.12
Price to Book Value
15.67
EPS Pre-Issue
3.16
EPS Post-Issue
2.37
P/E Pre-Issue
75.63
P/E Post-Issue
100.84
Objects of the Issue
- Company Learning Centres and Company Learning Centres in partnership with Licensed Professionals — ₹26.88 Cr
- School Collaboration Centres — ₹5.54 Cr
- Centre for Excellence and Research — ₹2.45 Cr
- Upskilling Academy — ₹2.05 Cr
- Technology (hardware) costs — ₹4.44 Cr
- Expenditure for lease payments for existing centres in India — ₹14.45 Cr
- Investment in Subsidiary, Moms Belief US Inc., for making lease / license payments for existing centres in the USA — ₹10.13 Cr
- Expenditure for brand awareness and inclusive outreach programs — ₹10.21 Cr
- Funding inorganic growth through unidentified acquisition and General corporate purposes
Lead Managers
Mefcom Capital Markets Ltd
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