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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Rays of Belief Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹239
Per ShareLot Size
62 Shares
Minimum Investment
₹14,818
Issue Size
₹125 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
91.72%
Promoter Holding (Post-Issue)
68.77%
Issue Type
Book Building
ISIN
INE1FCO01014
Our Company is a For-Profit Social Enterprise providing intervention plans for children with Neurodevelopmental Disorders ("NDDs"). Such plans are personalised based on each child's unique needs and condition severity. NDDs include Autism Spectrum Disorder ("ASD"), Attention-Deficit/ Hyperactivity Disorder ("ADHD"), Down Syndrome ("DS"), Cerebral Palsy ("CP"), Intellectual Disability ("ID"), Learning Disabilities ("LD"), and Global Developmental Delays ("GDD").
The NDD care and intervention industry in India is experiencing robust growth, driven by rising prevalence of conditions like ASD, ADHD, DS, and others, as well as increased awareness, earlier diagnoses, and significant advancements in technology and therapeutic approaches. The market size for NDDs was estimated at Rs. 52,623 million as of March 2025, with ASD, ADHD, and Cerebral Palsy comprising the majority share; sub-segments such as ASD and ADHD therapy are expected to maintain strong compound annual growth rates over the next decade. Key growth drivers include public awareness campaigns, government and NGO initiatives, and the adoption of digital health tools and multidisciplinary care models, though the industry faces ongoing challenges related to regulatory fragmentation, workforce shortages, cost barriers, regional disparities in service access, and residual social stigma. With no Indian listed peers, the sector references larger-scale global behavioral health providers for benchmarking, while domestic leaders like Rays of Belief Ltd. are distinguished by extensive networks and geographic reach. The outlook for the sector remains positive as policy reforms, continued investment, and technological innovation progressively address care gaps and enable better outcomes for children and families affected by NDDs across India.
Revenue, profit after tax and total assets for the last reported financial year.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of 5,230,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Rays of Belief Limited ("the Company" or the "Issuer") for cash at a price of Rs. 239 per equity share ("Issue Price") aggregating Rs. 125 Crores (the "Issue"). The issue comprises of a fresh issue of 5,230,000 equity shares by the company aggregating Rs. 125 Crores (the "Fresh Issue"). The issue shall constitute 25.02% of the post issue paid-up equity share capital of the company. The company, in consultation with the brlm, has undertaken a private placement of equity shares, as permitted under applicable law, aggregating to Rs. 5.90 Crores ("Pre-Ipo Placements"). The pre-ipo placements were made at a price of Rs. 284 per equity share (including the premium of Rs. 274 per equity share), and Rs. 290 per equity share (including the premium of Rs. 280 per equity share) bearing face value Rs. 10 each, by way of a private placement in accordance with section 42 and section 62 of the companies act, 2013 and rule 14 of the companies (prospectus and allotment of securities) rules, 2014, and the companies (share capital and debentures) rules, 2014, each as amended. The pre-ipo placements have been undertaken pursuant to the approval of the board dated February 13, 2026, March 18, 2026 and April 29, 2026, and shareholders dated February 14, 2026, March 19, 2026 and April 30, 2026, respectively, and the allotment of the said equity share was made pursuant to board resolution dated March 03, 2026, March 24, 2026, and May 27, 2026, respectively. The amount raised pursuant to the pre-ipo placements was reduced from the fresh issue and the revised size of the fresh issue is upto 5,230,000 equity shares bearing face value of Rs. 10 each aggregating up to Rs. 125 Crores. The pre-ipo placements did not exceed 20% of the size of the fresh issue, as disclosed in the udrhp-i. The company has appropriately intimated the subscribers to the pre-ipo placements, prior to allotment that there is no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to the pre-ipo have been appropriately made in the relevant sections of this red herring prospectus and prospectus. Price Band: Rs. 239 per equity share of face value of Rs. 10 each. The floor price is 23.90 times of the face value of the equity shares. Bids can be made for a minimum of 62 equity shares of face value of Rs. 10 each and in multiples of 62 equity shares of face value of Rs. 10 each thereafter.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
Our Company was originally incorporated as "Rays of Belief Private Limited" as a private limited company under the provisions of the Companies Act, 2013 pursuant to a certificate of incorporation dated August 23, 2017, issued by the Central Registration Centre. Subsequently, upon conversion of our Company into a public limited company, our name was changed to "Rays of Belief Limited" pursuant to a resolution passed by our Board dated October 30, 2024 and by our Shareholders on November 04, 2024, and a fresh certificate of incorporation was issued by the Central Processing Centre on November 25, 2024.
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY26.
*Subject to approvals and market conditions.