Rays of Belief IPO GMP History
Rays of Belief IPO has been listed on September 8, 2026 at a listing price of ₹239, against the issue price of ₹239 — a gain of ₹0 (+0%). The GMP peaked at ₹48 on 31 August 2026 and reached a low of ₹10 on 5 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Rays of Belief IPO raised ₹125 Cr. through its IPO at a price band of ₹227 to ₹239 per share, with a lot size of 62 shares. The IPO was open for subscription from 01 Sep 2026 to 03 Sep 2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 8 Sep, 6:30 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 08 Sep 2026 | ₹ 15 | — | 6.28% | — | — |
| 07 Sep 2026 | ₹ 15 | ▼ | 6.28% | — | — |
| 06 Sep 2026 | ₹ 20 | ▲ | 8.37% | — | — |
| 05 Sep 2026 | ₹ 10 | ▼ | 4.18% | — | — |
| 04 Sep 2026 | ₹ 12 | — | 5.02% | — | — |
| 03 Sep 2026 | ₹ 12 | ▼ | 5.02% | — | — |
| 02 Sep 2026 | ₹ 42 | ▲ | 17.57% | — | — |
| 01 Sep 2026 | ₹ 38 | ▼ | 15.90% | — | — |
| 31 Aug 2026 | ₹ 48 | ▲ | 20.08% | — | — |
| 30 Aug 2026 | ₹ 35 | ▲ | 14.64% | — | — |
| 29 Aug 2026 | ₹ 26 | ▼ | 10.88% | — | — |
| 28 Aug 2026 | ₹ 29 | ▲ | 12.13% | — | — |
| 27 Aug 2026 | ₹ 10 | ▼ | 4.18% | — | — |
| 26 Aug 2026 | ₹ 18 | — | 7.53% | — | — |
Rays of Belief IPO dates
Key dates from opening to listing. Today is 13 October.
- Open 01 Sep 2026
- Close 03 Sep 2026
- Allotment 04 Sep 2026
- Refund/credit 07 Sep 2026
- Listing 08 Sep 2026
Rays of Belief IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹239 |
|---|---|
| GMP-based estimate (pre-listing) | ₹254 (+6.3%) |
| Listing gain / loss | +₹0 per share |
| Listing date | 08 Sep, 2026 |
| Actual listing price | ₹239 (+0%) |
Is Rays of Belief IPO GMP reliable?
Grey market premium for Rays of Belief IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Rays of Belief IPO full review for a fundamentals-based assessment before making any grey market trades.
Rays of Belief IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Rays of Belief IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Rays of Belief IPO
Rays of Belief Ltd was started in 2017. It is a for-profit social enterprise that makes personalised intervention plans for children with neurodevelopmental disorders. These include Autism Spectrum Disorder, ADHD, Down Syndrome, Cerebral Palsy, intellectual disability, learning disabilities and global developmental delays.
The company opened its first centre in Gurgaon in 2018 and works under the brand name Mom's Belief. It has grown from 71 centres in FY2023 to 136 centres as on 31 March 2026, spread across 57 cities and 20 states and union territories. Of these, 42 are in Tier 1 cities, 77 in Tier 2 and 17 in Tier 3, so a large part of the network is in smaller cities where such care is harder to find.
It mainly works with children between 18 months and 12 years, and runs special programmes on vocational and life skills for children up to 15 years. Its services include early intervention, parental guidance, occupational therapy, language therapy and family support. Its centres carry more than 150 teaching tools and its home based learning kits give access to more than 2,000 teaching tools, with regular follow up and progress tracking. As on 31 March 2026 it had a team of over 340 full time clinical professionals. In June 2025 it bought Mom's Belief US, Inc. as a wholly owned subsidiary along with Allergy and Immunology Virginia, LLC, adding three centres in Virginia at Salem, Lynchburg and Roanoke.
Frequently asked
What is the GMP of Rays of Belief IPO?
The current Grey Market Premium (GMP) of Rays of Belief IPO is ₹ 15.
What is the Kostak Price of Rays of Belief IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Rays of Belief IPO is not available.
What is the Subject to Sauda Price of Rays of Belief IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Rays of Belief IPO?
Rays of Belief IPO listed on September 8, 2026 at ₹239, against the issue price of ₹239 — a gain of +0%.
How did the GMP of Rays of Belief IPO trend before listing?
The GMP of Rays of Belief IPO was stable in its final days before listing. The GMP peaked at ₹48 on 31 August 2026. View the day-wise table above for the complete GMP history.
Explore Rays of Belief IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
