Rays of Belief's IPO to open on Sep 1, price band set at ₹227-239
Rays of Belief Ltd, which operates under the Mom's Belief brand, is set to launch its Initial Public Offering (IPO) on September 1, with a price band of Rs 227-239 per share.
The post-issue implied market capitalisation of the company is estimated at Rs 474-500 crore, based on the price band.
The three-day public issue will close on September 3, while bidding by anchor investors will take place on August 31, according to the company's announcement on Monday.
The IPO comprises a fresh issue of up to 52.30 lakh equity shares worth Rs 125 crore at the upper end of the price band.
The issue proceeds will be used to fund the company's expansion plans, including setting up 319 new centres between fiscal 2027 and fiscal 2029.
Also, funds will be allocated towards capital expenditure, including centre fit-outs, therapy-material inventory and technology hardware.
Rays of Belief is a for-profit social enterprise providing personalised intervention plans for children with neurodevelopmental
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