Rays of Belief IPO Review
Rays of Belief IPO has been reviewed by 8 analysts, and the overall consensus is Neutral — carrying a score of 51. Out of the 8 analysts who have covered this IPO, 3 recommend subscribing while 5 advise caution or avoidance — reflecting a mixed view from the analyst community.
The issue is priced in the band of ₹227-239 per share, with a minimum application size of 62 shares (minimum investment of approximately ₹14,818 at the upper band). Subscription ran from 01 Sep 2026 to 03 Sep 2026. The issue size is ₹125 crore, entirely a fresh issue. As of now, the grey market premium (GMP) for Rays of Belief IPO is quoting at ₹15 (6.28%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Analyst verdict & score
One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated
Higher consensus indicates broader analyst agreement.
Detailed review
What the analyst reports say, grouped by the question you're likely asking.
General review
Listing gains
Short-term strategy
Long-term strategy
How this is written: an AI-assisted summary of the 11 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.
Analyst reviews
Ordered by each analyst's track record over the past year; analysts still building one are listed last.
Latest IPO reviews
How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.
Frequently asked
Should I apply for Rays of Belief IPO?
The analyst consensus for Rays of Belief IPO tracked on this page is Neutral, with a score of 51/100. Out of 8 analysts who have reviewed this IPO, 3 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.
What does the score of 51 mean for Rays of Belief IPO?
The score of 51 is an aggregate of all analyst ratings tracked for Rays of Belief IPO. A score in this range reflects mixed views — some analysts are positive while others are cautious. Read the individual analyst verdicts above for more context.
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% (₹0 per share). View the full GMP history page for day-wise pre-listing trends.
What is the price band and lot size of Rays of Belief IPO?
Rays of Belief IPO was priced at ₹227-239 per share. The minimum lot size is 62 shares, making the minimum investment approximately ₹14,818 at the upper end of the price band. Subscription ran from 01 Sep 2026 to 03 Sep 2026.
Explore Rays of Belief IPO further
Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.
It has listed — go back to the fundamentals.
Live grey market premium, Kostak and Subject to Sauda, with the day-wise trend.
Category-wise demand from QIB, NII and retail investors, updated through the day.
Check with your PAN whether shares were credited to your demat account.
A verdict is an opinion, not a guarantee.
IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.
Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.
