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Rays of Belief Limited- For Profit Social Enterprise (FPSE)

Uncategorized · NSE & BSE · Listed 8 Sept

Rays of Belief is a for-profit social enterprise delivering personalized intervention plans for children with neurodevelopmental disorders such as ASD, ADHD, and Down Syndrome. Operating an asset-light model, it runs Company Learning Centres, professional partnerships, and school collaborations across India and the US. Revenue comes from in-person centre operations, online therapy services, and export earnings via global R&D coordination and programmatic innovation, all delivered through accessible, family-centric care. Disclosure: Zerodha (via Rainmatter) holds a 1.09% pre-IPO stake in the company. <span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">&#xFEFF;</span><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">&#xFEFF;</span>

Listing outcome

₹20+8.4%₹5
Estimated listing
₹259
Expected gain
+8.4%
Kostak
Subject to Sauda

Updated 10 Sept 2026, 10:08 am IST

Issue details

Price band
₹227 – ₹239 per share
Lot size
62 shares
Minimum application
1 lot · ₹14,818
Retail maximum
13 lots · ₹1,92,634
Issue size
₹125 cr
Bidding days
3 · 1 Sept to 3 Sept
Listing at
NSE, BSE

Facts worth noting

  • Grey market premium has risen over the last three quotes (₹10 to ₹20).

Derived from the figures on this page. Observations, not a recommendation.

Documents

DRHP and RHP links appear here once connected to a live document source. Always read the red herring prospectus on sebi.gov.in or the exchange website before applying.

Grey market premium

Unofficial per-share premium quoted by grey market dealers. Estimated listing price = upper band + GMP.

Compare with other IPOs
012253750OpensCloses27 Aug: ₹1028 Aug: ₹14.829 Aug: ₹28.1130 Aug: ₹31.5631 Aug: ₹39.111 Sept: ₹43.262 Sept: ₹37.453 Sept: ₹30.34 Sept: ₹13.725 Sept: ₹9.616 Sept: ₹14.757 Sept: ₹2027 Aug29 Aug31 Aug2 Sept4 Sept6 Sept7 Sept
Day-wise grey market premium per share. Dashed markers show issue open and close.
DateGMPEst. listing
7 Sept₹20₹259
6 Sept₹15₹254
5 Sept₹10₹249
4 Sept₹14₹253
3 Sept₹30₹269
2 Sept₹37₹276
1 Sept₹43₹282
31 Aug₹39₹278
30 Aug₹32₹271
29 Aug₹28₹267
28 Aug₹15₹254
27 Aug₹10₹249

Grey market premium, Kostak and Subject-to-Sauda rates are unofficial, unregulated indications collected from market sources. They are not endorsed by SEBI, NSE or BSE and are no guarantee of the listing price. IPOKhazana does not deal in, facilitate or recommend grey market transactions.

Subscription

Times subscribed per category, cumulative by day. QIB figures exclude the anchor portion.

  • QIB
    9.06×
  • bNII
    304×
  • sNII
    230×
  • NII
    279×
  • Retail
    196×
  • Total
    108×

As of day 3 · 3 Sept. Bars use a log scale; amber marks categories still under 1×.

DayQIBbNIIsNIINIIRetailTotal
Day 3 3 Sept9.06×304×230×279×196×108×

Overall 108× as of day 3. Retail bids are capped at ₹2 lakh per PAN; oversubscribed retail and sNII portions are allotted by lottery.

Key dates

Under SEBI's T+3 timeline: allotment on T+1, refunds and demat credit on T+2, listing on T+3, where T is the closing day.

  1. Issue opens

    Tue, 1 Sept, 2026

  2. Issue closes

    Thu, 3 Sept, 2026

  3. Basis of allotment

    Fri, 4 Sept, 2026

  4. Refunds / unblock

    Mon, 7 Sept, 2026

  5. Credit to demat

    Mon, 7 Sept, 2026

  6. Listing

    Tue, 8 Sept, 2026

Allotment

Basis of allotment is due on Fri, 4 Sept, 2026. Check with the registrar using your PAN, application number or DP/client ID.

Check your status

Registrar details for this issue haven't been indexed yet.

  • Status also appears on BSE's application-status page and in your broker app.
  • Unallotted funds are unblocked by Mon, 7 Sept, 2026.
  • Allotted shares are credited to demat by Mon, 7 Sept, 2026.

Estimate your odds

Chance of at least one lot

0.5%

Subscribed 196×. Allotment is by lottery at one lot per winner, so roughly one in 196 applicants gets shares. Extra lots do not improve the odds in this category.

Illustrative estimate from published subscription figures. The registrar's basis of allotment is the only authoritative source.

Reviews from third-party research

Attributed summaries of published research. IPOKhazana does not issue its own subscribe or avoid calls.

No published research has been indexed for this issue yet. Reviews usually appear a day or two before the issue opens.

Opinions belong to the named source. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

MOMSBELIEF IPO: common questions

What is the MOMSBELIEF IPO price band and lot size?

The price band is ₹227 to ₹239 per share with a lot size of 62 shares. The minimum application is 1 lot, or ₹14,818 at the upper band.

What are the MOMSBELIEF IPO dates?

The issue opens on Tue, 1 Sept, 2026 and closes on Thu, 3 Sept, 2026. Basis of allotment is expected on Fri, 4 Sept, 2026, refunds and demat credit by Mon, 7 Sept, 2026, and listing on Tue, 8 Sept, 2026 on NSE and BSE.

What is the MOMSBELIEF IPO GMP today?

The latest grey market premium is ₹20 per share (7 Sept), implying an estimated listing price of about ₹259 and an expected gain of +8.4% over the upper band. GMP is unofficial and unregulated and is not a forecast of the listing price.

How do I check MOMSBELIEF IPO allotment status?

Allotment is finalised around Fri, 4 Sept, 2026. Check with the issue's registrar using your PAN, application number or DP/client ID, or on BSE's application-status page, or in your broker app.

How many times is the MOMSBELIEF IPO subscribed?

As of day 3 (3 Sept) the issue is subscribed 108× overall: QIB 9.06×, NII 279×, retail 196×.

Is the MOMSBELIEF IPO a mainboard or SME issue?

Rays of Belief Limited- For Profit Social Enterprise (FPSE) is a mainboard issue listing on NSE and BSE. Current status: Listed.

Same board or stage as MOMSBELIEF. The GMP tracker lines them all up side by side.

Compare all on the GMP tracker
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Grey market premium

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