Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO

No current grey market premium reading is being quoted for the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO — the issue has listed and the grey market stops quoting once shares trade on the exchange. The day-wise history on this page shows every reading we recorded. GMP is an unofficial, unregulated datapoint reported by third parties — not a price, a prediction, or investment advice.

No. The grey market is an informal, over-the-counter market between private dealers that is not operated or supervised by NSE, BSE or SEBI. No trade settles through a clearing corporation and no dealer is obliged to honour a quote, so the premium can change sharply within a day or disappear after bidding closes.

The premium is checked about every 20 minutes from third-party grey-market reporters while the issue is live. The history table adds a row only when the premium changes, with the date and time it changed, how much it moved and the listing price it implies.

As of 3 Sept, 7:05 pm the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO is subscribed 107.71× overall: QIB 9.06×, non-institutional 279.11× and retail 195.87×. Figures are the exchange's consolidated demand across NSE and BSE.

The retail portion is subscribed 195.87× as of 3 Sept, 7:05 pm. Retail applications are those up to ₹2,00,000 at the cut-off price.

NSE and BSE publish the category-wise bids for every open issue during bidding hours. This page reads that feed and shows the QIB, NII and retail book, plus one row per day so the build-up over the issue can be compared.

Overall subscription at the end of each bidding day — day 1 (1 September 2026): 1.18×, day 2 (2 September 2026): 3.63×, day 3 (3 September 2026): 107.71× — from the exchange feed. The day-wise table on this page breaks each day into QIB, non-institutional and retail.

Subscription of 2× means bids were received for twice the number of shares offered in that category. When a category is oversubscribed, allotment in it is decided by the registrar under the basis-of-allotment rules — retail by lottery for the minimum lot, for example.

Allotment for the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO is expected to be finalised on 4 September 2026, the trading day after the issue closes on 3 September 2026. Under SEBI's T+3 timeline refunds and demat credit follow on 7 September 2026 and the shares list on 8 September 2026. Dates are tentative until the registrar and exchange confirm them.

Allotment is decided and published by the registrar, Kfin Technologies Limited — not by the exchange and not by alphave. Open the registrar's IPO allotment page, choose the issue, and enter your PAN, application number or DP ID / client ID. Your bank will also show the blocked amount released if shares were not allotted.

The registrar to the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO is Kfin Technologies Limited. The registrar processes applications, finalises the basis of allotment with the exchange, and handles refunds.

The amount blocked in your bank account under ASBA or the UPI mandate is released, normally on the day allotment is finalised or the next working day. No shares are credited and nothing further is needed from you.

Bidding for the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO opens on 1 September 2026 and closes on 3 September 2026. Exchange bidding runs from 10:00 am to 5:00 pm IST on each day; UPI mandates must be accepted by 5:00 pm on the closing day, and brokers may stop taking bids somewhat earlier.

The shares are scheduled to list on 8 September 2026 on NSE. Trading starts at 10:00 am IST after the special pre-open session that discovers the listing price.

Applications are made through a broker's app or a bank's net banking using ASBA, or by UPI mandate, between 1 September 2026 and 3 September 2026. The amount is only blocked, not debited, until allotment. Retail bids of up to ₹2,00,000 are usually placed at the cut-off price (₹239); a UPI mandate must be approved by 5:00 pm on the closing day.

3 September 2026 is the last day of bidding. Allotment is then expected on 4 September 2026, refunds and demat credit on 7 September 2026, and listing on 8 September 2026 — tentative until confirmed.

The Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO price band is ₹227 to ₹239 per share. Applications are made at the cut-off price, which is the upper end of the band.

One lot is 62 shares, so a single application at the ₹239 cut-off costs ₹14,818. Retail investors can apply for up to 13 lots within the ₹2,00,000 retail limit.

₹14,818 — one lot of 62 shares at ₹239. Bids in the non-institutional category start above ₹2,00,000 and are made in multiples of the lot.

Rays of Belief Limited- For Profit Social Enterprise (FPSE) is a mainboard issue listing on NSE. The lead manager is Mefcom Capital Markets Limited.

The issue size is ₹125 crore, of which ₹125 crore is a fresh issue.

Rays of Belief Limited- For Profit Social Enterprise (FPSE) reported revenue of ₹81.66 crore in FY2026, as restated in its offer document. The table on this page shows each reported year.

Rays of Belief Limited- For Profit Social Enterprise (FPSE) reported a profit after tax of ₹4.96 crore in FY2026. Earlier years are in the table above.

From the restated financial statements in the company's draft and final offer documents filed with SEBI and the exchange. alphave reports them as filed, in ₹ crore, and does not publish a valuation or a view on the issue.

The promoter and promoter group hold 68.77% after the issue, down from 91.72% before it, as disclosed in the offer document.

Before the issue the promoter and promoter group hold 91.72% of Rays of Belief Limited- For Profit Social Enterprise (FPSE). An unlisted company has no public shareholders; the public holding is created by the shares sold in this IPO.

The pre-issue register is the capital structure disclosed in the offer document; the post-issue pattern is the company's shareholding-pattern filing with NSE or BSE once it is published, and the offer document's disclosed post-issue register until then.

The offer document for the Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO is linked on this page as filed with the exchange; SEBI and the lead managers also host it.

The Draft Red Herring Prospectus is the document a company files with SEBI before an IPO. It describes the business, the financials, the risk factors, the promoters and how the money raised will be used. The Red Herring Prospectus (RHP) is the version filed just before the issue opens, with the price band and dates added.

The company ranks first in India and seventh globally in offering intervention plans for children with neurodevelopmental disorders. The company has a pan-India presence with centres across 57 cities in 20 states and union territories. The company's business model allows for optimal upfront investment, limited capital expenditure, and high scalability by leasing commercial spaces. The page lists all 7 as disclosed.

The company's centres operate on leased premises with short lease tenures, and capital expenditure on fit-outs may not be recoverable if leases are not renewed. The company's revenue is derived from specific regions and tier 2 cities, and any loss of business in these areas may adversely affect revenues and profitability. The company derives a significant portion of its revenue from export of support services to its holding company and promoter group entity, and adverse changes in this agreement could affect its business. The page lists all 8 disclosed risk factors.

The Rays of Belief Limited- For Profit Social Enterprise (FPSE) shares are scheduled to list on 8 September 2026 on NSE. The listing price is discovered in a special pre-open session from 9:00 am and normal trading begins at 10:00 am IST.

Rays of Belief Limited- For Profit Social Enterprise (FPSE) listed at ₹239, a gain of 0.0% on the ₹239 issue price.

On listing day the exchange runs a special pre-open session for the new stock from 9:00 am IST in which orders are collected and the listing price is discovered; continuous trading in the shares begins at 10:00 am IST.

Subscription figures are the exchange's own category-wise bids (NSE and BSE), refreshed every 5 minutes while bidding is open and frozen at the final tally after close. GMP is an unofficial grey-market indicator read about once an hour from third-party reporters, each reading timestamped. Price band, lot size, issue size, dates, registrar and lead managers are from the exchange's issue master and the offer document filed with SEBI. Financials and the shareholding pattern are as restated in the offer document; allotment is published only by the registrar, which this page links to. Anchor investor allocations, where shown, are the exchange's anchor allocation file.