Rays of Belief Share Price: Stock Lists at Flat Price on NSE

On September 8, 2026, Rays of Belief Ltd. shares made their market debut on the stock exchanges. The stock listed at ₹239.00 on the National Stock Exchange (NSE), reflecting a 0% change over its IPO issue price of ₹239.00 per share.  

On BSE, it similarly listed at ₹239.00, mirroring the IPO issue price.  

Rays of Belief Ltd. IPO Overview 

Rays of Belief Ltd. launched its book built IPO with a total issue size of ₹125.00 crore, consisting entirely of a fresh issue of 52.30 lakh shares. The bidding opened on September 1, 2026, and closed on September 3, 2026. The issue price was finalized at ₹239 per share, within a price band of ₹227 to ₹239 per share.  

The retail application lot size was set at 62 shares, requiring a minimum investment of ₹14,818. Melcom Capital Markets Ltd. served as the book running lead manager, and Kfin Technologies Ltd. acted as the registrar for the issue. 

The shares got listed on NSE and BSE on Sep 8, 2026. 

Rays of Belief IPO subscribed 107.71 times. The public issue subscribed 195.86 times in the retail category, 9.06 times in QIB (Ex Anchor), and 279.11 times in the NII category by September 3, 2026, 6:54:57 PM (Day 3). 

Business Overview of Rays of Belief Ltd. 

Incorporated in 2017, Rays of Belief Ltd. is a for-profit social enterprise that provides personalized intervention plans for children with Neurodevelopmental Disorders, operating under its brand name Mom's Belief.  

The company expanded its network from 71 centres in fiscal 2023 to 136 centres across 57 cities in India as of March 31, 2026. They primarily serve children aged 18 months to 12 years with multidisciplinary clinical services.  

In June 2025, the company expanded internationally by acquiring Mom's Belief US, Inc. and Allergy and Immunology Virginia, LLC, adding three centres in Virginia. 

Financial Overview of Rays of Belief Ltd. 

The company demonstrated notable growth in scale alongside shifting profitability. For the period ended March 31, 2026, total income reached ₹82.06 crore, up from ₹36.54 crore on March 31, 2025, and ₹30.76 crore on March 31, 2024.  

Profit after tax stood at ₹4.96 crore for fiscal 2026, showing a decline from ₹5.88 crore in fiscal 2025, though still higher than the ₹0.85 crore reported in fiscal 2024. The company increased its net worth to ₹30.81 crore by March 31, 2026, while maintaining a total borrowing amount of ₹3.61 crore. 

Read More: PC Jeweller Share Price Gains Over 37% in Past 3 Days: Here's Why? 

Rays of Belief Share Price Performance 

As of September 08, 2026, at 10:12 AM, Rays of Belief share price on NSE was trading at ₹236.60, down by 1.00% from both its opening price and its original IPO issue price of ₹239.00. 

Conclusion 

Rays of Belief equity shares opened flat at ₹239.00 on both the NSE and BSE, aligning perfectly with the company's IPO issue price of ₹239.00 per share. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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