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Allotment
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Listing
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Issue Size
60,00,000 shares (agg. up to ₹[.] Cr)
Listing Date
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✦ AI Insight
Restated Financials (₹ Cr.)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 26.12 | 12.89 | 7.78 |
| Total Income | 36.54 | 30.76 | 22.27 |
| Profit After Tax | 5.88 | 0.85 | -8.46 |
| EBITDA | 3.02 | 1.49 | -7.22 |
| NET Worth | 15.02 | 5.78 | 4.36 |
| Reserves and Surplus | 14.70 | 5.47 | 4.06 |
| Total Borrowing | 4.36 | ||
| Amount in ₹ Crore |
Peer Comparison
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Safecure Services Ltd. | SME | ₹30.60 Cr | ₹102 | 11.66 | ₹77.55 | -23.97% | ₹23.97 (+0.00%) |
| NIS Management Ltd. | SME | ₹60.01 Cr | ₹111 | 9.13 | ₹102.60 | -7.57% | ₹47.00 (+0.00%) |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Company Learning Centres and Company Learning Centres in partnership with Licensed Professionals | 37.09 |
| 2 | School Collaboration Centres | 6.45 |
| 3 | Centre for Excellence and Research | 4.91 |
| 4 | Upskilling Academy | 2.86 |
| 5 | Technology (hardware) costs | 6.31 |
| 6 | Expenditure for lease payments for our existing centres in India | 14.45 |
| 7 | Investment in our Subsidiary, Mom’s Belief US Inc., for making lease / license payments for our 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 | |
| Total | 92.41 |
About Rays of Belief IPO
Rays of Belief is a for-profit social enterprise that provides personalized intervention plans for children with Neurodevelopmental Disorders (NDDs) such as Autism, ADHD, Down Syndrome, Cerebral Palsy, Intellectual Disability, Learning Disabilities, and Global Developmental Delay. Our goal is to improve awareness, access, quality, and affordability of care, while empowering parents to support their child’s development actively. It started its first centre in Gurgaon in 2018 and has grown to 136 centres across 57 cities in India as of September 30, 2025, under the brand Mom’s Belief. Most of the centres are located in Tier 2 cities, helping expand access beyond major urban areas. Since 2018, the company has served over 56,500 children. These services are designed mainly for children aged 18 months to 12 years, with special programs up to age 15 that focus on vocational and life skills. The company offers early intervention, occupational therapy, language therapy, parental guidance, and family support. Its centers are equipped with 150+ teaching tools, including sensory equipment, puzzles, and worksheets. On June 23, 2025, the company acquired Mom's Belief US Inc. as a wholly-owned s
Contact Details
Rays of Belief Ltd. AddressJ-1919, Basement,Chittranjan Park, New Delhi,Delhi, New Delhi, 110019+91 124 407549cs@momsbelief.comVisit Website