Rays of Belief IPO Day 2: Subscription Status on 2 September 2026 and Listing Outlook

Rays of Belief IPO Day 2, 2 Sep 2026. Overall subscribed near 1.77x so far. Day 1 close: Retail 6.51x. Price band Rs 227-239. Closes 3 Sep. Lists NSE and BSE.

Updated: 2 Sept 2026 • 11:19 am

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Quick Answer

The Rays of Belief IPO, operating under the Mom's Belief brand, is on Day 2 of bidding on 2 September 2026, with the overall subscription now running above 1.7 times after retail investors oversubscribed their portion 6.51 times on Day 1. The non-institutional category showed a mixed pattern on Day 1, with bigger ticket bids lagging smaller ones, while qualified institutional demand typically builds closer to the 3 September close. The issue is priced at Rs 227 to Rs 239 per share and will list on NSE and BSE. Investors should track the exchange websites for the latest category wise numbers before the bidding window shuts.

Rays of Belief, which runs paediatric therapy and learning support centres for children with autism, ADHD and related developmental conditions under the Mom's Belief brand, has entered the second day of its IPO subscription window running from 1 September to 3 September 2026. The Rays of Belief IPO is a mainboard, book built issue worth Rs 125 crore and will list on both NSE and BSE.

Day 1 bidding for the Rays of Belief IPO closed with the issue fully subscribed at 1.18 times overall, powered almost entirely by strong retail interest. Day 2 numbers have carried that momentum forward, and QIB participation, which is usually thin in the opening sessions, will be the key variable to watch before the close on 3 September.

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Table of Contents

Rays of Belief IPO Details

The table below lists the key parameters of the Rays of Belief IPO.

Open Date	1 September 2026
Close Date	3 September 2026
Price Band	Rs 227 to Rs 239 per share
Lot Size	62 shares
Issue Size	Rs 125 crore
Issue Type	Book Built Issue
Listing At	NSE and BSE
Allotment Date	4 September 2026
Listing Date	8 September 2026

Rays of Belief IPO Subscription Status Day 2

The table below captures the Day 1 close position for the Rays of Belief IPO along with the latest overall subscription figure available on Day 2.

Investor Category	Subscription at Day 1 Close (1 Sep)	Overall Subscription So Far (Day 2, 2 Sep)
Retail Individual Investors	6.51 times	Updating
Non-Institutional Investors, Big NII	0.13 times	Updating
Non-Institutional Investors, Small NII	0.90 times	Updating
Qualified Institutional Buyers (QIB)	Yet to see meaningful participation	Updating
Overall	1.18 times	Around 1.77 times

Retail bidding has driven the strength in the Rays of Belief IPO so far, while institutional investors and big ticket HNIs typically place the bulk of their bids on the final day of a book built issue.

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How to Apply for the Rays of Belief IPO

Open a Demat and trading account with a SEBI-registered broker such as Univest if you do not already have one.
Select the Rays of Belief IPO on your broker app or net banking portal and enter your bid quantity and price within the Rs 227 to Rs 239 band.
Submit the bid through the UPI-based ASBA method so that the amount is blocked in your bank account rather than debited immediately.
Approve the UPI mandate promptly so your Rays of Belief IPO application is processed before the daily cut off.

Download the Univest iOS App or Univest Android App to apply for the Rays of Belief IPO before the 3 September close.

Grey market premium (GMP) is an unofficial, unregulated indicator for the Rays of Belief IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

Conclusion

The Rays of Belief IPO has built solid momentum through Day 2, led by heavy retail demand, while institutional bidding is still awaited ahead of the 3 September close. Investors should study the company financials and sector risks in the RHP on nseindia.com and bseindia.com before applying to the Rays of Belief IPO.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

What is the Rays of Belief IPO subscription status on Day 2?

Ans. As of Day 2 on 2 September 2026, the Rays of Belief IPO overall subscription stands at approximately 1.77 times, after closing Day 1 fully subscribed at 1.18 times with retail investors bidding 6.51 times their reserved portion.

When does the Rays of Belief IPO close?

Ans. The Rays of Belief IPO closes for subscription on 3 September 2026, having opened on 1 September 2026.

What is the Rays of Belief IPO GMP?

Ans. Grey market premium (GMP) is an unofficial, unregulated indicator for the Rays of Belief IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

What is the Rays of Belief IPO price band and lot size?

Ans. The Rays of Belief IPO price band is Rs 227 to Rs 239 per share, with a lot size of 62 shares, taking the minimum retail investment to about Rs 14,818 at the upper band.

How do I apply for the Rays of Belief IPO?

Ans. You can apply for the Rays of Belief IPO through your SEBI-registered broker or UPI-enabled banking app using the ASBA method, entering your bid quantity and price and approving the UPI mandate.

When will the Rays of Belief IPO be allotted and listed?

Ans. The Rays of Belief IPO allotment is expected to be finalised on 4 September 2026, with listing on NSE and BSE tentatively scheduled for 8 September 2026.

Which category is leading the Rays of Belief IPO subscription?

Ans. Retail investors are clearly leading the Rays of Belief IPO subscription after bidding 6.51 times their portion on Day 1, while non-institutional and qualified institutional demand remain comparatively muted so far.