What is the price band of the Rays of Belief- For Profit Social Enterprise (FPSE) IPO?

The price band is ₹227–239 per share, and the final issue price is ₹239.

What is the lot size of the Rays of Belief- For Profit Social Enterprise (FPSE) IPO?

One lot is 62 shares, so the minimum retail bid is ₹14,818 at the upper end of the price band.

Rays of Belief- For Profit Social Enterprise (FPSE) IPO

Q: How many times was the Rays of Belief- For Profit Social Enterprise (FPSE) IPO subscribed?

It was subscribed 108x overall: QIB 9.06x, NII 279x and retail 196x as of 03 Sep 2026, 07:00 PM (NSE and BSE together).

Rays of Belief Limited- For Profit Social Enterprise (FPSE) (MOMSBELIEF) · mainboard IPO on NSE and BSE · Book Building. NSE has no listing record for this issue: it may have listed on BSE only, or been withdrawn.

No NSE listing data Subscribed 108x

Issue details

Price band

₹227–239

Issue price

₹239

Lot size

62 shares

Min. retail bid

₹14,818

Max. retail bid

13 lots (₹1,92,634)

Issue size

₹141 Cr

Face value

₹10

Bidding

01 Sep – 03 Sep 2026

Listing

—

Retail quota

10% (75% QIB issue)

Registrar

KFin Technologies Limited

Discount

Subscription status

Category	Shares offered	Shares bid for	Subscribed
QIB (institutions)	18,30,310	1,65,76,630	9.06x
NII (HNI) total	7,84,500	21,89,65,648	279x
Big NII (above ₹10 lakh)	5,23,000	15,88,98,374	304x
Small NII (₹2-10 lakh)	2,61,500	6,00,67,274	230x
Retail	5,23,000	10,24,37,640	196x
Total	31,37,810	33,79,79,918	108x

Bids on NSE and BSE together, as published by NSE, as of 03 Sep 2026, 07:00 PM. Shares offered exclude the anchor portion. 26% of all shares bid for were at the cut-off price.

Past IPOs with similar demand

Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Rays of Belief- For Profit Social Enterprise (FPSE)'s, and how they listed.

IPO	QIB	NII	Retail	Total	Size	Listing gain	Day high
Dev AcceleratorSep 2025	20.3x	88.0x	165x	64.0x	₹143 Cr	0.0%	+5.0%
Shree Ram TwistexFeb 2026	3.94x	220x	76.2x	43.6x	₹234 Cr	-34.6%	-31.4%
Priority JewelsSep 2026	39.9x	166x	107x	100x	₹91.5 Cr	+15.0%	+20.8%
Plaza WiresOct 2023	42.8x	388x	375x	161x	₹101 Cr	+40.7%	+48.5%
Amanta HealthcareSep 2025	35.9x	209x	55.0x	82.6x	₹126 Cr	+7.1%	+12.5%
Supriya LifescienceDec 2021	31.8x	161x	56.0x	71.5x	₹724 Cr	+53.6%	+53.6%

Lead managers and their listing record

Book running lead manager	Mainboard IPOs since 2019	Avg listing gain	Listed at a premium
Mefcom Capital Markets	3	+4.8%	67%

Offer documents (NSE)

Red Herring Prospectus (zip) Basis of issue price (zip) Anchor allocation (zip)

Frequently asked

What is the Rays of Belief- For Profit Social Enterprise (FPSE) IPO price band and lot size? ₹227–239 per share, with a lot of 62 shares, so the smallest retail bid is ₹14,818.

How many times has it been subscribed? 108x overall: QIB 9.06x, NII 279x, retail 196x.

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Important: The AI listing estimates on Flash Finance are statistical estimates drawn from how past Indian IPOs have listed. They are not a forecast of what any IPO will do, not a recommendation to apply, buy or sell, and not investment advice. Listing prices depend on market conditions on the listing day and can differ widely from any estimate; past patterns may not repeat. Subscription figures are as published by NSE (bids on NSE and BSE together) and can be revised. Flash Finance is not a SEBI-registered investment adviser or research analyst. Read the issue's Red Herring Prospectus and consult a SEBI-registered adviser before you invest.