Oversubscribed Rays of Belief to list on BSE and NSE
Business
Rays of Belief is making its stock market debut on the BSE and NSE this Tuesday, after its IPO saw a massive buzz, getting oversubscribed more than 100 times.
Retail investors especially jumped in, bidding nearly 196 times the shares available. The IPO ran from September 1-3 and clearly grabbed a lot of attention.
Rays of Belief issue price ₹239
The company offered 52.3 lakh fresh shares (no shares from existing owners), with an issue price of ₹239 each.
Shares are already trading at a ₹20 premium in the gray market, hinting at an upbeat listing around ₹259.
The money raised will help open 319 new centers between FY27 and FY29 for kids with neurodevelopmental disorders, funding everything from therapy materials to tech gear, so there's a real social impact angle here too.