Rays Of Belief IPO Listing: Shares List Flat
Add Preferred News Source
Rays Of Belief shares listed flat on the NSE and BSE even though the IPO saw strong investor demand during the issue period. Read more.
Rays Of Belief had a muted listing, with its shares opening flat on both exchanges. The stock debuted at ₹239 on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in line with the upper end of the initial price offering (IPO) price band.
Rays Of Belief IPO And Subscription Details
The IPO of Rays of Belief, which carried a price band of ₹227–₹239 per share, was open for subscription from 1 September to 3 September. The issue size was pegged at ₹125 crore and the lot size of shares was 62. Mefcom Capital Markets is the book-running lead manager for the IPO, while Kfin Technologies has been appointed as the issue registrar.
Rays Of Belief IPO received an overall subscription of 107.71 times. Non-institutional investors (NIIs) led the demand with 279.11 times subscription. Retail individual investors bid 195.87 times. Qualified institutional buyers (QIBs) subscribed to the issue 9.06 times.
About Rays Of Belief
Rays of Belief is a for-profit social enterprise that provides personalised intervention programmes for children with neurodevelopmental disorders. Its services cover conditions including autism, attention-deficit/hyper-activity disorder (ADHD), Down syndrome, cerebral palsy, intellectual disability, learning disabilities and developmental delays.
Also Read - Deepa Jewellers IPO Listing: Shares List At A Premium Of 25%
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
Right Tools, Rich Insights
