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  5. Rays of Belief IPO subscribed 20.89 times so far on Day 3: Check allotment date and steps

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Rays of Belief IPO subscribed 20.89 times so far on Day 3: Check allotment date and steps

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

2 min read | Updated on September 03, 2026, 12:18 IST

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SUMMARY

The Rays of Belief IPO, with a price band of ₹227 to ₹239 per share, consists solely of a fresh issuance of up to 52.30 lakh equity shares. There was no offer for sale (OFS) component.

Rays of Belief Ltd is a for-profit social enterprise offering personalised intervention plans for children with neurodevelopmental disorders. | Image: momsbelief.com

Rays of Belief Ltd is a for-profit social enterprise offering personalised intervention plans for children with neurodevelopmental disorders. | Image: momsbelief.com

The initial public offering of Rays of Belief Limited, which operates under the Mom's Belief brand, has been subscribed 20.89 times so far on the third day of bidding on Thursday.

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The ₹125 crore IPO secured bids for 6,55,38,216 shares against 31,37,810 shares on offer, according to NSE data until 12:16 pm.

The retail individual investors' (RIIs) quota was subscribed 64.97 times, while the non-institutional investors' (NIIs) portion received 40.07 times subscription. The part for qualified institutional buyers (QIBs) was subscribed 7%.

The IPO, with a price band of ₹227 to ₹239 per share, consists solely of a fresh issuance of up to 52.30 lakh equity shares. There was no offer for sale (OFS) component.

The fresh issue proceeds will be utilised to fund the firm's expansion plans, including establishing 319 new centres between the financial year 2026-27 and fiscal 2029. A part will also be used for capital expenditure needs, including centre fit-outs, technology hardware and therapy-material inventory and general corporate purposes.

Rays of Belief Ltd is a for-profit social enterprise offering personalised intervention plans for children with neurodevelopmental disorders, including ADHD, down syndrome, autism spectrum disorder, cerebral palsy, learning disabilities, intellectual disability and global developmental delays.

Rays of Belief IPO allotment and listing date

Rays of Belief IPO allotment status is expected to be finalised on Friday, September 4. The equity shares of the company are proposed to be listed on the NSE and BSE on Tuesday, September 8.

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How to check Rays of Belief IPO allotment status on NSE

Steps to check Rays of Belief IPO allotment status on KFin Technologies

  • Head to the registrar's website: https://ipostatus.kfintech.com/
  • In the ‘Select IPO’ section, choose 'Rays of Belief Ltd'
  • Mention any one: Demat account number, IPO application number or PAN
  • Hit the 'Submit' button
Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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