Rays of Belief Ltd, which operates under the Mom’s Belief brand, is set to launch its initial public offering (IPO) on September 1. The company has fixed a price band of ₹227–₹239 per share, according to its public announcements cited by multiple outlets. Based on this band, the post-issue implied market capitalisation is estimated at ₹474–₹500 crore.
The IPO is scheduled as a three-day public offer, ending on September 3, with anchor investor bidding on August 31. Sources also report that the issue includes a fresh offering of up to 52.30 lakh equity shares, raising up to ₹125 crore at the upper end of the price band. Proceeds are intended to support expansion of its neurodevelopmental centres, including setting up 319 new centres between fiscal 2027 and fiscal 2029, along with funding for capital expenditure such as centre fit-outs, therapy-material inventory, and technology hardware.
While both sources align on the key timetable and pricing details, one outlet additionally highlights the company’s operating footprint, revenue growth, and the planned listing window around September 8, as well as the roles of specific intermediaries.
