Niva Market Watch

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

listed · NSE

Rays of Belief Limited- For Profit Social Enterprise (FPSE) IPO was a ₹125 crore public issue on NSE with a price band of ₹227–₹239 per share, open for bidding from 1 Sep 2026 to 3 Sep 2026.

Last updated: · How we collect data

IPO overview

Rays of Belief Limited- For Profit Social Enterprise (FPSE) raised ₹125 crore through a public issue.

Bids were accepted within a price band of ₹227–₹239 per share; the final issue price is set within this band after bidding closes.

The shares listed on NSE on 8 Sep 2026.

Issue size
₹125 crore
Price
₹227–₹239 per share
Exchange
NSE

IPO timeline

  1. Bidding opens 1 Sep 2026
  2. Bidding closes 3 Sep 2026
  3. Basis of allotment —
  4. Refunds / unblocking —
  5. Shares credited to demat —
  6. Listing 8 Sep 2026

Bidding ran from 1 Sep 2026 to 3 Sep 2026.

The shares listed on 8 Sep 2026.

Subscription summary

By the close of bidding, the issue was subscribed 107.71× overall (last figure recorded 3 Sep 2026).

A full category-wise breakdown is not available for this figure, so only the overall multiple is shown.

Recorded day by day: 1 Sep 1.18×, 2 Sep 3.63× and 3 Sep 107.71×.

Bids were received for 107.71× the shares available, so not every applicant in an oversubscribed category will receive shares.

Grey market premium (unofficial)

The last grey market premium (GMP) we recorded for this issue was ₹15 on 7 Sep 2026, equal to 6.3% of the upper price band.

Across 11 readings between 28 Aug 2026 and 7 Sep 2026, the quoted GMP ranged from ₹9 to ₹48.

We do not yet record actual listing prices, so this page does not compare the GMP with where the shares opened.

  • GMP is unofficial: it is not published or verified by NSE, BSE or SEBI, changes quickly, and is not a forecast or guarantee of the listing price.

Sources and data methodology

NSE & BSE public-issue data; Chittorgarh and InvestorGain (fill gaps only); InvestorGain live subscription report (third-party); InvestorGain grey market report (unofficial). Methodology · Report an error

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