Rays of Belief (Mom’s Belief)
· Mainboard · NSE, BSE
Price Band
₹227–239
Lot Size
62 shares
Issue Size
₹125 Cr
Min. Investment
₹14,818
Grey Market Premium
Last unofficial quote before listing
Cap price plus current GMP: ₹254 — arithmetic, not a forecast
Subscription Status
Rays of Belief (Mom’s Belief)IPO: Overview & Key Facts
Rays of Belief (Mom’s Belief) IPO is a Mainboard issue that listed on NSE, BSE on 8 September 2026. The price band is ₹227–₹239 per equity share, with a market lot of 62 shares. The total issue size is ₹125 Cr. At the upper price band, the minimum application for an individual investor is 1 lot (62 shares), amounting to ₹14,818.
Rays of Belief (Mom’s Belief) IPO GMP & Listing
The last grey market premium (GMP) reported for Rays of Belief (Mom’s Belief) IPO before listing was ₹15, about 6.28% over the upper price band of ₹239, and informal quotes had eased over the sessions we recorded. The shares opened at ₹239 on listing day, level with the issue price of ₹239. GMP is an unofficial, unregulated indicator quoted by off-market dealers; it moves with supply and demand and is not a guaranteed listing price. For how often it has been right, read our research on IPO GMP accuracy.
Rays of Belief (Mom’s Belief)IPO Subscription Status & Demand Analysis
On the latest figures we have, Rays of Belief (Mom’s Belief) IPO was subscribed 107.28x overall — with QIB at 9.06x, NII at 278.97x, bNII at 303.82x, sNII at 229.28x, Retail at 193.47x, from about 15,39,669 applications. Where the individual-investor category is oversubscribed, allotment in it is decided by a computerised lottery: as many applicants as possible receive the minimum application, chosen at random.
Rays of Belief (Mom’s Belief) IPO Allotment & Listing
The registrar for this issue is KFin Technologies Ltd.; the basis of allotment was finalised on 4 September 2026 and the shares listed on 8 September 2026. You can check your allotment status on our IPO Allotment Checker using your PAN or application number.
Listing Performance
Issue Price
₹239
Listed At
₹239
Current Price
₹221.15
Issue Objectives
- Company Learning Centres and Company Learning Centres in partnership with Licensed Professionals
- School Collaboration Centres
- Centre for Excellence and Research
- Upskilling Academy
- Technology (hardware) costs
- Expenditure for lease payments for existing centres in India
- Investment in Subsidiary, Moms Belief US Inc., for making lease / license payments for existing centres in the USA
- Expenditure for brand awareness and inclusive outreach programs
- Funding inorganic growth through unidentified acquisition and General corporate purposes
- Issue Expenses
Reservation
| Category | Shares Offered | % |
|---|---|---|
| QIB | 39,22,500 | 75% |
| − Anchor Investor | 20,92,190 | 40% |
| − QIB (Ex. Anchor) | 18,30,310 | 35% |
| NII (HNI) | 7,84,500 | 15% |
| − bNII > ₹10L | 5,23,000 | 10% |
| − sNII < ₹10L | 2,61,500 | 5% |
| Retail | 5,23,000 | 10% |
- QIB39.5%
- − Anchor Investor21.1%
- − QIB (Ex. Anchor)18.4%
- NII (HNI)7.9%
- − bNII > ₹10L5.3%
- − sNII < ₹10L2.6%
- Retail5.3%
Market Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 62 | ₹14,818 |
| Retail (Max) | 13 | 806 | ₹1,92,634 |
| S-HNI (Min) | 14 | 868 | ₹2,07,452 |
| S-HNI (Max) | 67 | 4154 | ₹9,92,806 |
| B-HNI (Min) | 68 | 4216 | ₹10,07,624 |
Financials (₹ Cr)
Valuations
EPS (Pre IPO)
3.16
EPS (Post IPO)
2.37
ROE
21.64%
P/E (Pre IPO)
75.63
P/E (Post IPO)
100.84
Market Cap
₹374.55 Cr.
Contact Details
Rays of Belief Ltd. Address
- +91 124 407549
- cs@momsbelief.com
- https://www.momsbelief.com/
Registrar Contact Details
KFin Technologies Ltd.
- +91 40 6716 2222
- einward.ris@kfintech.com
- https://kfintech.com
- Selenium Tower B, Plot 31-32, Financial District, Nanakramguda, Hyderabad – 500032
Frequently Asked Questions
Key Dates
- Open Date
- 01 Sept 2026
- Close Date
- 03 Sept 2026
- Basis of Allotment
- 04 Sept 2026
- Listing Date
- 08 Sept 2026
Issue Details
- Registrar
- KFin Technologies
- Exchange
- NSE, BSE