Rays of Belief IPO
Healthcare Services (NDD Intervention) - Listed on 08 September 2026
Rays of Belief IPO listing summary
Rays of Belief (Healthcare Services (NDD Intervention)) closed its IPO window in 2026 and listed on NSE and BSE on 08 September 2026 at an upper band issue price of Rs 239, opening at Rs 239 for a listing gain of 0.0% and closing day one at Rs 228.34 (-4.5% on closing basis). The IPO was subscribed 107.71x overall - QIB 9.06x, HNI/NII 279.11x, Retail 195.87x. The total issue size was Rs 125 Cr (Fresh Issue Rs 125 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Listing day performance
Subscription breakdown
Final (Day 3) subscription
Number of times each investor category subscribed by close of Day 3.
Day-wise overall subscription
How overall subscription built up across the three-day issue window.
Rays of Belief IPO GMP history
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 20 | +23.40% |
| Day 2 | Rs 11 | +4.60% |
| Day 3 | Rs 18 | +23.80% |
| Day 4 | Rs 45 | +18.83% |
| Day 5 | Rs 38 | +15.90% |
GMP Prediction vs IPOGyani AI Prediction
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 15.1 pp (Variance observed)
Issue & financials
Market context at listing
How the broader market moved around the Rays of Belief IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Rays of Belief IPO - FAQs
What was the listing gain of Rays of Belief IPO?
Rays of Belief IPO listed at 0.0% versus the upper issue price of Rs 239 on 08 September 2026.
How many times was Rays of Belief IPO subscribed?
Rays of Belief IPO was subscribed 107.71x overall. QIB portion was subscribed 9.06x, HNI / NII 279.11x and Retail 195.87x.
What was the IPO GMP for Rays of Belief?
IPO GMP started at Rs 20 on Day 1 and moved to Rs 38 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.