IPO
Therapy-care provider for children Rays of Belief’s Rs.125-Cr IPO subscribed 108 times
The INR 125 crore initial public offering of New Delhi-based Rays of Belief closed with an overall subscription of 107.71 times. The issue received total bids for 33,79,77,624 shares against 31,37,810 shares on offer.Qualified institutional buyers subscribed 9.06 times of their quota. The non-institutional investor category led the subscription with 279.11 times, while retail individual investors subscribed 195.86 times. The company priced its IPO at a range of INR 227 to INR 239 per share.Founded in 2026, Rays of Belief is a for-profit social enterprise that provides intervention plans for children with neurodevelopmental disorders (NDDs), including Autism Spectrum Disorder, ADHD, Down Syndrome, Cerebral Palsy, Intellectual Disability, Learning Disabilities and Global Developmental Delays.The company plans to use the new funds raised from the fresh issue to fund centre expansion.
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