Rays of Belief Limited
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Rays of Belief Limited's presents an investment opportunity through its forthcoming IPO with a total issue size of 52,30,000 Shares. The fresh issue of 52,30,000 Shares aims to strengthen the company's financial position.
The indicative price range of ₹227 to ₹239 per share and minimum lot size of 62 shares have been designed to accommodate varying investment capacities while ensuring broad market participation.
The subscription period is scheduled from Sep 01, 2026 to Sep 03, 2026. Post- subscription, the allotment process will conclude on Sep 04, 2026, with the official listing ceremony expected on Sep 08, 2026 at the NSE, BSE exchange.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Rays of Belief is a social enterprise focused on providing personalized care and therapy for children with neurodevelopmental disorders such as autism, ADHD, and learning disabilities, aiming to improve access, affordability, and quality of support while also empowering parents. Starting with its first centre in Gurgaon in 2018, the company has expanded rapidly to over 130 centres across 57 cities in India, mainly in Tier 2 locations, under the brand Mom’s Belief. It offers services like early intervention, occupational and language therapy, along with family support programs for children typically aged 18 months to 12 years, and extended programs up to 15 years. Having supported over 56,000 children so far, the company also expanded internationally by acquiring Mom’s Belief US, adding centres in Virginia, further strengthening its reach and impact.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
💡 Read our detailed guide: What is IPO Grey Market Premium (GMP) & How It Works?
- Leading Centre Network: Rays of Belief has one of the largest networks of centres in India for providing intervention services to children with NDDs, with 136 centres across multiple cities.
- Scalable Business Model: The company has grown its operations steadily and expanded its centre network, allowing it to reach more customers across different locations.
- Affordable and Accessible Care: The company aims to provide convenient and affordable developmental care with personalised intervention plans for children across its network of centres.
- Dependence on Leased Centres: The company operates its centres from leased properties, with lease periods of 11 months to 3 years. If leases are not renewed or centres are shifted or closed, the company may not be able to recover the money spent on setting up these centres.
- Geographical Concentration: A portion of the company’s revenue comes from centres in specific regions such as Uttar Pradesh, Karnataka and Delhi, as well as Tier 2 cities. Any decline in business from these locations could impact revenue and profitability.
- Dependence on Related Parties and Acquired Centres: A significant part of revenue comes from support services provided to related companies and recently acquired centres in the US. Any change or termination of these arrangements could negatively affect the company’s business and revenue.
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