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RO

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

ClosedMainboard

— · ₹227 – ₹239 · ₹125 Cr

Last updated: 06 Nov 2026, 11:18 am · 3d ago
Price Band₹227 – ₹239
Lot Size62 shares
Issue Size₹125 Cr
GMP (Unofficial)+3.35%
  • Overview
  • Timeline
  • Subscription
  • Financials
  • Valuation
  • Documents
Grey Market Premium₹8(+3.35%)Unofficial grey-market estimate — not an exchange price.
  1. 1 Sep 2026Open Date
  2. 3 Sep 2026Close Date
  3. 4 Sep 2026Allotment Date
  4. 8 Sep 2026Listing Date

Check your allotment

KFin Technologies — allotment statusBSE allotment statusNSE allotment status

These open the registrar's and the exchanges' own websites. Rays of Belief Limited- For Profit Social Enterprise (FPSE) is not affiliated with CAPITA1, and we never ask for your PAN or application number.

IPO Snapshot
30/ 100
Opportunity Score
🔴 Expensive
Broker Consensus
Avoid
GMP %
+3.35%
Subscription
N/A
P/E
74.45x
ROE
21.64%
ROCE
N/A
DRHP RHP — N/A

“Broker Consensus” is CAPITA1's algorithmic verdict from GMP, subscription, fundamentals & valuation — broker recommendations aren't in our data feed. GMP is an unofficial grey-market estimate. Not investment advice.

Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO valuation · at upper band ₹239

🔴 Expensive
Market Cap (Post-IPO)
₹369.3 Cr
Market Cap (Pre-IPO)
₹293.15 Cr
Enterprise Value
Not Available
Earnings Per Share (EPS)
₹3.21
Net Asset Value per Share (NAV)
₹15.67
Price to Earnings (P/E) at upper band
74.45x
Price to Book (P/B)
15.25x
EV / EBITDA
Not Available
Return on Net Worth (RoNW)
21.64%
Return on Equity (ROE)
21.64%
Return on Capital Employed (ROCE)
Not Available
Debt / equity
Not Available
Formulas used (all at upper price band)
  • Market Cap (Post-IPO) = Upper Price × Post-issue Shares (Shares = Latest FY PAT ÷ EPS)
  • Market Cap (Pre-IPO) = Post-IPO Market Cap − Fresh Issue
  • Enterprise Value = Market Cap + Total Debt − Cash (cash assumed nil)
  • Total Debt = Debt/Equity × Net Worth
  • Net Worth = NAV (Book Value/Share) × Post-issue Shares
  • P/E Ratio = Upper Price ÷ EPS
  • P/B Ratio = Upper Price ÷ NAV
  • EV / EBITDA = Enterprise Value ÷ EBITDA

Company financials (EPS, NAV, ratios) from Issuer DRHP figures, compiled from public IPO listings. Ratios computed at the upper price band; not investment advice.

AI IPO AnalysisAI

DRHP / RHP IntelligenceAI

Generate an AI read of the offer document — business, risks, promoters, use of funds and an educational verdict, with citations back into the filing.

GMP (Grey Market Premium)

₹8+3.35%

CAPITA1 desk — unofficial grey-market estimate — No exchange publishes a grey-market premium; this is not investment advice. Updated 05 Sept 2026, 01:23 pm.

Subscription

Subscription figures are not available for this issue.

Timeline

Open Date
01 Sept 2026
Close Date
03 Sept 2026
Allotment
04 Sept 2026
Refund
07 Sept 2026
Demat Credit
07 Sept 2026
Listing
08 Sept 2026

Lot Size & Offer

Lot Size
62 shares
Min Investment
₹14,818
Fresh Issue
Not Available
Offer for Sale
Not Available

Issue Structure

Issue Type
Book Building
Face Value
₹10
Fresh Issue
52,30,000 shares

New shares — the money goes to the company.

Retail Application Cap
₹2,00,000

Regulatory maximum for one retail application.

As stated in the issue information filed with NSE.

Reservation

QIB
75%
NII / HNI
15%
Retail
10%
Employee
Not Available

Objectives of the Issue

  • Company Learning Centres and Company Learning Centres in partnership with Licensed Professionals
  • School Collaboration Centres
  • Centre for Excellence and Research
  • Upskilling Academy
  • Technology (hardware) costs
  • Expenditure for lease payments for existing centres in India
  • Investment in Subsidiary, Moms Belief US Inc., for making lease / license payments for existing centres in the USA
  • Expenditure for brand awareness and inclusive outreach programs
  • Funding inorganic growth through unidentified acquisition and General corporate purposes

Financial Highlights (₹ Cr)

PeriodRevenuePATAssetsNet Worth
202430.760.8512.89—
202536.545.8826.12—
202682.064.9650.89—
Revenue Growth
+124.58%
PAT Growth
-15.65%
EBITDA
₹11.97 Cr
EBITDA Margin
14.59%
ROE
21.64%
ROCE
Not Available
Debt / equity
Not Available
Net Worth
Not Available

Promoter Holding

Pre-Issue
Not Available
Post-Issue
Not Available

Registrar & Managers

Registrar
KFin Technologies Limited
Contact Person
M. Murali Krishna
Email
robl.ipo@kfintech.com
Phone
+91 40 6716 2222
Address
Selenium, Tower-B, Plot 31 and 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500 032, Telangana
Book Running Lead Managers
  • Mefcom Capital Markets Limited

Offer Documents

RHP DRHP Basis of Issue Price Anchor Allocation Bidding Centres

Market data: NSE (official calendar, issue filing and subscription) · CAPITA1 desk (GMP) · updated 06 Nov 2026, 11:18 am

Fundamentals: Issuer DRHP figures, compiled from public IPO listings · fetched 21 Aug 2026, 04:09 am

IPO calendar, issue details and subscription from NSE. Any grey-market premium shown is CAPITA1’s own unofficial estimate, collected daily from grey-market sources — not investment advice, and no exchange publishes one. Company fundamentals (financials, peers) are not part of the live feed.

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