Home / Business and Economy / Mom's Belief IPO Sees Strong Demand
Mom's Belief IPO Sees Strong Demand
2 Sep
Summary
- The IPO of Mom's Belief brand was subscribed 1.18 times on its first day.
- Retail investors showed strong interest, with their portion subscribed 6.49 times.
- Funds will support expansion, including 319 new centers by fiscal 2029.
The initial share sale of Rays of Belief, which operates under the Mom's Belief brand, experienced robust demand, achieving a 1.18 times subscription on its first day of bidding on Tuesday, September 1, 2026. The company received bids for 36,99,168 shares against the 31,37,810 shares available.
Retail investors were particularly enthusiastic, with their portion of the IPO being subscribed an impressive 6.49 times. The non-institutional investors' quota saw a 39% subscription. Prior to the public offering, Rays of Belief secured Rs 50 crore from five anchor investors on Monday, August 31, 2026.
The IPO, priced between Rs 227 and Rs 239 per share, is open for subscription until September 3, 2026. The company aims to raise Rs 125 crore through a fresh issue of up to 52.30 lakh equity shares. These funds are earmarked for expansion initiatives, including the creation of 319 new centers between fiscal years 2027 and 2029.
Further allocations will cover capital expenditures, such as center fit-outs, inventory of therapy materials, and technology hardware. Rays of Belief, a for-profit social enterprise, provides personalized intervention plans for children with neurodevelopmental disorders. The company's equity shares are slated for listing on the BSE and NSE on or around September 8, 2026.
