Rays of Belief Ltd IPO — GMP, Details & Subscription

IPO Details

Open Date

01 Sep 2026

Close Date

03 Sep 2026

Allotment

09 Sep 2026

Listing Date

08 Sep 2026

Exchange

NSE & BSE

Price Band

TBA

Listing Price

On listing day

Allotment Status

Check Now →

Price Band

TBA

Per share

Face Value

₹10 per share

Lot Size

TBA

Pending

Issue Size

52,30,000 shares (agg. up to ₹[.] Cr)

Total offering

Issue Type

Bookbuilding IPO

Min Investment

TBA

1 lot

Pre-IPO Holding

1,56,71,682 shares

Promoters

Post-IPO Holding

2,09,01,682 shares

Promoters

EPS (Pre)

₹3.16

EPS (Post)

₹2.37

UPI Deadline

5:00 PM on 03 Sep 2026

Mandate

Anchor AllotmentMon, 31 Aug 2026

Basis of AllotmentWed, 09 Sep 2026

Refund InitiationThu, 10 Sep 2026

Demat CreditThu, 10 Sep 2026

Listing DayTue, 08 Sep 2026

UPI Mandate Deadline5:00 PM on 03 Sep 2026

Sale TypeFresh capital only

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

Check AllotmentClick here →

Subscription Rate Awaited

⏳ Opens 01 Sep 2026, Tue

Rays of Belief Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 03 Sep 2026.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total
QIB	Over 1.00x	—	—
NII / HNI	Over 1.00x	—	—
Retail	Over 1.00x	—	—
Total	1.00x	—	100%

IPO Schedule

Anchor

31 Aug 2026

Upcoming

IPO Open

01 Sep 2026

Upcoming

IPO Close

03 Sep 2026

Upcoming

Allotment

09 Sep 2026

Upcoming

Refunds

10 Sep 2026

Upcoming

Demat Credit

10 Sep 2026

Upcoming

Listing Day

08 Sep 2026

Upcoming

Chart Available After Listing

Expected: 08 Sep 2026

About Rays of Belief Ltd

Rays of Belief Ltd is proposing an IPO on NSE & BSE under the Mainboard category. Total issue: 52,30,000 shares (agg. up to ₹[.] Cr).

Opens 01 Sep 2026, closes 03 Sep 2026. Listing: 08 Sep 2026. Apply via ASBA or UPI.

Objects of the Issue

Object 1

Rays of Belief Ltd Financials (Amount in ₹ Crore)

Revenue from Operations

₹30.8

31 Mar 2024

₹36.5

31 Mar 2025

₹82.1

31 Mar 2026

Profit After Tax (PAT)

₹0.9

31 Mar 2024

₹5.9

31 Mar 2025

₹5.0

31 Mar 2026

Particulars	31 Mar 2026	31 Mar 2025	31 Mar 2024
Revenue from Operations	82.06	36.54	30.76
EBITDA	11.91	3.02	1.49
Profit After Tax (PAT)	4.96	5.88	0.85
Net Worth	30.81	15.02	5.78
Total Assets	50.89	26.12	12.89
Reserves & Surplus	15.22	14.70	5.47
Borrowings	3.61	4.36	N/A
EBITDA Margin (%)	14.59	—	—
PAT Margin (%)	6.07	—	—

P/BV Ratio

15.67

RoE

21.64

RoCE

29.74

RoNW

21.64

PAT Margin

6.07

EBITDA Margin

14.59

Debt/Equity

0.12

Issue Structure & Shareholding

Total Shares OfferedN/A

Net Offer to PublicN/A

Reserved for Market MakerN/A

Pre-Issue Promoter Holding1,56,71,682 shares

Post-Issue Promoter Holding2,09,01,682 shares

P/BV Ratio15.67

RoE21.64

RoCE29.74

Debt / Equity0.12

Script CodeN/A

Registrar & Lead Managers

Will be available once DRHP is filed.

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Rays of Belief Ltd IPO subscribed? ▲

Rays of Belief Ltd IPO is subscribed 1.00 times by Sep 03, 2026. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Rays of Belief Ltd IPO retail subscription status? ▼

The Rays of Belief Ltd IPO retail category is subscribed 1.00 times as of 03 Sep 2026. The retail portion is oversubscribed.

How to subscribe Rays of Belief Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 01 Sep 2026 and closes 03 Sep 2026. Min investment: as per prospectus. UPI mandate: 5:00 PM on 03 Sep 2026.

How many times Rays of Belief Ltd IPO subscribed? ▼

The Rays of Belief Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Rays of Belief Ltd IPO allotment? ▼

Check allotment on the registrar website. Enter your PAN, application number or DP/Client ID. Allotment date: 09 Sep 2026. Refunds: on 10 Sep 2026.

When Rays of Belief Ltd IPO will be listed? ▼

The Rays of Belief Ltd IPO listing date is 08 Sep 2026, Tuesday. Listed on: NSE & BSE. Issue price: TBA. Estimated listing: TBA. GMP: NIL.

When Rays of Belief Ltd IPO close? ▼

The Rays of Belief Ltd IPO closes on 03 Sep 2026, Thursday. UPI mandate: 5:00 PM on 03 Sep 2026. Allotment: 09 Sep 2026. Listing: 08 Sep 2026.