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Open
1 Sep 2026
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Close
3 Sep 2026
3
Allotment
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Listing
Tue, Sep 8, 2026
Price Band
₹227 to ₹239
Issue Size
52,30,000 shares (agg. up to ₹125 Cr)
Lot Size
62 Shares
Listing Date
Tue, Sep 8, 2026
Latest GMP
₹15
Est. Gain
6.28%
✦ AI Insight
GMP Trend
08-09-2026₹15Est. ₹254+6.28%
07-09-2026₹15Est. ₹254+6.28%
06-09-2026₹20Est. ₹259+8.37%
05-09-2026₹10Est. ₹249+4.18%
04-09-2026₹12Est. ₹251+5.02%
03-09-2026₹12Est. ₹251+5.02%
02-09-2026₹42Est. ₹281+17.57%
Live Subscription
| Category | Subscription (times) |
|---|---|
| QIB | 9.06x |
| NII | 279.11x |
| Retail | 195.86x |
| Total | 64.62x |
Restated Financials (₹ Cr.)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 50.89 | 26.12 | 12.89 |
| Total Income | 82.06 | 36.54 | 30.76 |
| Profit After Tax | 4.96 | 5.88 | 0.85 |
| EBITDA | 11.91 | 3.02 | 1.49 |
| NET Worth | 30.81 | 15.02 | 5.78 |
| Reserves and Surplus | 15.22 | 14.70 | 5.47 |
| Total Borrowing | 3.61 | 4.36 | |
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Manipal Health Enterprises Ltd. | Mainboard | ₹9,275.22 Cr | ₹590 | 75.93 | ₹666.95 | +13.04% | ₹717.35 |
| Gujarat Kidney & Super Speciality Ltd. | Mainboard | ₹250.80 Cr | ₹114 | 61.62 | ₹104.54 | -8.30% | ₹171.09 |
| Park Medi World Ltd. | Mainboard | ₹920.00 Cr | ₹162 | 29.21 | ₹147.95 | -8.67% | ₹279.30 |
| ABH Healthcare Ltd. | SME | ₹34.98 Cr | ₹102 | 14.47 | ₹94.05 | -7.79% | ₹62.70 |
| Hannah Joseph Hospital Ltd. | SME | ₹42.00 Cr | ₹70 | 16.21 | ₹68.25 | -2.50% | ₹110.00 |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Company Learning Centres and Company Learning Centres in partnership with Licensed Professionals | 26.88 |
| 2 | School Collaboration Centres | 5.54 |
| 3 | Centre for Excellence and Research | 2.45 |
| 4 | Upskilling Academy | 2.05 |
| 5 | Technology (hardware) costs | 4.44 |
| 6 | Expenditure for lease payments for existing centres in India | 14.45 |
| 7 | Investment in Subsidiary, Moms Belief US Inc., for making lease / license payments for existing centres in the USA | 10.13 |
| 8 | Expenditure for brand awareness and inclusive outreach programs | 10.21 |
| 9 | Funding inorganic growth through unidentified acquisition and General corporate purposes | 38.55 |
| 10 | Issue Expenses | 16.20 |
| Total | 130.89 |
About Rays of Belief IPO
Updated on Sep 11, 2026
Contact Details
Rays of Belief Ltd. AddressJ-1919, Basement,Chittranjan Park,Delhi, New Delhi, 110019+91 124 407549cs@momsbelief.comVisit Website