Rays of Belief to launch IPO on September 1

Rays of Belief Ltd, the parent company of child development platform Mom's Belief, will launch its initial public offering on September 1. The IPO will remain open till September 3, and bidding for anchor investors is scheduled on August 31. The issue is a fresh issue of up to 52.30 lakh equity shares with no offer-for-sale component. Business Today reports the issue could be worth around Rs 148.53 crore at the lower price band of Rs 284 per share and Rs 151.67 crore at the upper band of Rs 290 per share. The Hindu Business Line says the company had raised Rs 5.89 crore through a pre-IPO placement.

The company reported consolidated revenue of Rs 81.66 crore in Fiscal 2026, up from Rs 36.41 crore in the previous fiscal. However, profit declined to Rs 4.95 crore from Rs 5.88 crore. As of March 31, 2026, Rays of Belief operated 136 centres across 57 cities and 20 states and union territories, serving more than 58,000 children since 2018.

The company plans to use IPO proceeds to fund expansion, including 319 new centres between Fiscal 2027 and Fiscal 2029, with a focus on Tier-II and Tier-III cities. The equity shares are proposed to be listed on BSE and NSE.