Mumbai, Sept. 1 -- The initial public offer of Rays of Belief received bids for 36,99,168 shares as against 31,37,810 shares on offer, according to stock exchange data at 17:00 IST on 1 September 2026). The issue was subscribed 1.18 times.

Rays of Belief (For Profit Social Enterprise) IPO is open from 1 September to 3 September 2026.

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, requiring Rs 14,818 at the upper price band.

The company plans to use Rs 41.36 crore for setting up new centres, Rs 14.45 crore for lease payments for existing centres, Rs...