Mumbai, Sept. 4 -- The initial public offer of Rays of Belief received bids for 33,79,79,918 shares as against 31,37,810 shares on offer. The issue was subscribed 107.71 times. Rays of Belief (For Profit Social Enterprise) IPO is open from 1 September to 3 September 2026.

The qualified institutional buyers' (QIB) portion was subscribed 9.06 times, while the non-institutional investors' (NII) category was subscribed 279.11 times. The retail individual investors' (RII) segment was subscribed 195.87 times.

The issue comprises a fresh issue of up to 52.30 lakh equity shares, including an anchor investor portion of 20,92,190 shares. The price band is fixed at Rs 227-239 per share, with a face value of Rs 10. The minimum bid lot is 62 shares,...