IPO Listed — 08 Sep 2026

Listing Price: ₹239 (+0% vs ₹239)

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Rays of Belief IPO Review

Q: 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).

Q: What is the price band and lot size of Rays of Belief IPO?

Rays of Belief IPO is 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.

Rays of Belief IPO has been reviewed by 6 analysts, and the overall consensus is Avoid — carrying a score of 43. Out of the 6 analysts who have covered this IPO, 2 recommend subscribing while 4 advise caution or avoidance — reflecting a cautious 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. 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.

General Review

Rays of Belief runs child development and special needs care centres, with a US subsidiary. FY26 income grew sharply from ₹36.54 crore to ₹82.06 crore, but profit fell from ₹5.88 crore to ₹4.96 crore. Analyst opinion was negative: two of the three covering it said avoid, one said subscribe.

Listing Gains

Valuation drove the negative view. The notes price the issue between about 74.5 and 101 times FY26 earnings, on a market cap near ₹500 crore, with earnings per share of only ₹2.37 to ₹3.21. Analysts call that expensive and not in investors' favour, pointing away from listing gains.

Short Term Strategy

Revenue more than doubled in FY26 while profit actually declined, so the growth came at the cost of margin. Fresh money funds new leased centres, brand awareness programmes and lease payments for the existing US centres. Near-term earnings depend on those new centres filling up.

Long Term Strategy

The one positive note rests on the growth runway in child development services, an underserved area in India. The majority view is that a business earning under ₹5 crore cannot support a multiple near 100 times, so the long-term case requires profit to scale sharply from a very low base.

Disclaimer: This review is an AI summary derived from the reviews of all analysts.

Analyst Verdict & Score
Detailed Review
Analyst Reviews
Frequently Asked Questions

Analyst Sentiment

Analytical Score

How it's calculated?

Avoid

43 / 100

Recommend Subscribe

Based on 6 analyst reviews

2 / 6

Higher consensus indicates broader analyst agreement.

Analyst Review

Analyst	Verdict	View
Adroit Financial Services	Avoid
BP Equities	Apply
Kantilal Chhaganlal Securities	Not Rated	-
Marwadi Shares & Finance	Avoid
EquiVision	Not Rated
Ventura Securities	Apply
Capital Market	Neutral
Swastika Investmart	Neutral
Axis Capital	Not Rated

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Frequently Asked Questions

Should I apply for Rays of Belief IPO?

Based on analyst coverage tracked on this page, the overall verdict for Rays of Belief IPO is Avoid. Out of 6 analysts who have reviewed this IPO, 2 recommend subscribing. Always cross-check with the full analyst reviews below and consult a SEBI-registered advisor before making any investment decision.

What does the score of 43 mean for Rays of Belief IPO?

The score of 43 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. Scroll down to read individual analyst verdicts 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.

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