Rays of Belief IPO Price Band and Issue Dates Announced Ahead of Launch

NEW DELHI, India — Child therapy and intervention enterprise Rays of Belief Limited has formally announced the schedule and structural details for its upcoming initial public offering (IPO), marking a significant capital-raising event in the healthcare services sector. According to official public advertisements published in national newspapers, the company's public subscription window will officially open on September 1, 2026, and close on September 3, 2026. The issue represents a strategic push by the organization to fund infrastructure expansion, technological capabilities, and strategic investments across its domestic and international operations.

Public Issue Structure and Subscription Schedule

According to regulatory disclosures and public notices, Rays of Belief Limited's initial public offering will commence bidding for anchor investors on August 31, 2026, prior to the general issue opening on September 1, 2026. The offer is slated to close on September 3, 2026, following three days of active subscription.

The public offer comprises a fresh issue of 5,230,000 equity shares with a face value of ₹10 per share. As per official filing details published on financial monitoring platforms, including Chittorgarh.com, the allotment basis is expected to be finalized on September 4, 2026. Refunds and share credits to Demat accounts are scheduled for completion by September 7, 2026, followed by a dual listing on the BSE and the National Stock Exchange (NSE) on September 8, 2026.

The transaction is managed by lead manager Mefcom Capital Markets Limited, while KFin Technologies Limited serves as the registrar for the issue.

Financial Growth and Operational Footprint

Rays of Belief Limited operates primary healthcare and therapy intervention centers focused on neurodevelopmental disorders (NDDs) in children, including Autism Spectrum Disorder (ASD), Attention Deficit Hyperactivity Disorder (ADHD), and Down's Syndrome. Operating predominantly under the brand name "Mom's Belief," the organization has expanded its footprint to 136 centers across 57 cities in India, with a strong focus on Tier 2 markets. In June 2025, the organization expanded its international presence by acquiring Mom's Belief US Inc., which operates three therapy locations in Virginia.

Financially, the organization reported significant revenue growth over recent fiscal cycles. According to financial disclosures, the company recorded consolidated revenues of ₹81.66 crore for the fiscal year ending March 31, 2026, up from ₹36.42 crore in FY2025. Net profit (PAT) stood at ₹4.96 crore for FY2026, backed by a net worth of ₹30.81 crore.

Strategic Utilization of IPO Proceeds

According to the company's draft prospectus and official releases, capital raised from the public issue will be allocated across specific operational and expansion initiatives. Key deployment areas include:

• Funding capital expenditure for establishing new company-owned learning centres and partnership centres with licensed professionals.

• Establishing School Collaboration Centres and setting up a Centre for Excellence and Research.

• Investment in technology hardware and upgrading digital platform infrastructure.

• Meeting existing lease payment commitments for centres operational in India and supporting subsidiary activities at Mom's Belief US Inc.

• Funding inorganic growth initiatives, brand outreach programs, and general corporate purposes.

Official Sources Section

Statements, dates, and financial figures cited in this report reflect public advertisements released in national daily newspapers, the Red Herring Prospectus (RHP) filed with market regulator SEBI, and documentation hosted on designated financial portals including Chittorgarh.com.

Source Statement

"According to official announcements and statutory newspaper advertisements, the issue will remain open for public bidding between September 1 and September 3, 2026, with equity share allocations managed under current SEBI book-building regulations."

Why It Matters

The public listing of Rays of Belief Limited introduces a specialized, impact-driven healthcare and pediatric intervention model to the Indian equity markets. For investors, the issuance provides direct exposure to the expanding social enterprise and pediatric healthcare sector. For families and care providers, the prospective capital influx supports expanded access to developmental therapy services across underserved Tier 2 markets in India.

Key Facts at a Glance

• Issue Dates: Opens September 1, 2026; Closes September 3, 2026.

• Proposed Listing: BSE and NSE mainboard exchanges.

• Issue Type: Fresh Issue of 5,230,000 equity shares.

• Lead Manager & Registrar: Mefcom Capital Markets Limited (Lead Manager) and KFin Technologies Limited (Registrar).

• Core Brand: Operates 136 pediatric care centres under "Mom's Belief".

Frequently Asked Questions (FAQ)

What are the opening and closing dates for the Rays of Belief IPO?

The IPO opens for public subscription on Tuesday, September 1, 2026, and closes on Thursday, September 3, 2026. Anchor book bidding opens on August 31, 2026.

On which stock exchanges will Rays of Belief shares be listed?

The equity shares are proposed to be listed on both the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange).

How will the proceeds of the Rays of Belief IPO be used?

Proceeds will be utilized to construct new learning centres, fund school collaborations, enhance technological hardware, cover existing lease obligations in India and the US, and pursue general corporate expansion.

Who is managing the Rays of Belief public offer?

Mefcom Capital Markets Limited is acting as the Book Running Lead Manager for the offer, while KFin Technologies Limited acts as the registrar.

Source: Chittorgarh.com, Ministry of Finance, BSE India