New Delhi, Sept. 2 -- Rays of Belief IPO has entered its second day of bidding on Wednesday, 2 September. The Rs.125 crore IPO will remain open till Thursday, 3 September.

The price band for the Rays of Belief IPO has been set at Rs.227- Rs.239 per equity share, with each share carrying a face value of Rs.10.

The IPO is currently commanding a grey market premium (GMP) of Rs.38. Based on the upper price band of Rs.239 and the prevailing GMP, the indicative listing price is estimated at Rs.277 per share, implying a potential premium of 15.90% over the issue price.

As per grey market trends tracked over the last 13 sessions, the IPO's GMP has increased to Rs.48 today, indicating expectations of a strong listing. During this period, the GM...