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Rays of Belief IPO Oversubscribed!

1 Sep

Summary

Rays of Belief IPO was subscribed 1.18 times by September 1, 2026.
The company plans to expand its centers and reach internationally.
FY26 revenue increased 12% to Rs 81.66 crore, with profit up 220%.

Rays of Belief, a for-profit social enterprise dedicated to children with neurodevelopmental disorders, has successfully garnered significant interest in its Initial Public Offering (IPO). As of September 1, 2026, the IPO was subscribed 1.18 times, attracting bids for 36.99 lakh shares against the 31.37 lakh shares available.

The company plans to leverage the IPO funds to establish 319 new centers between FY27 and FY29, expand its existing 136 centers across India, and pursue international growth in the UAE and UK markets. These plans also include investments in brand awareness and general corporate purposes.

Financially, Rays of Belief demonstrated robust performance in FY26, with consolidated revenue increasing by 12% to Rs 81.66 crore and operating profit seeing a substantial 220% rise to Rs 11.91 crore. The company had previously raised Rs 50 crore from anchor investors at the upper price band of Rs 239 per share.

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