Rays of Belief Limited IPO Details & Live GMP
Renewable Energy Sector · Total Issue Size: ₹380.00 Cr
Last heard: 01 Sep, 04:30 PM
Cap price (₹226) + current GMP
1 Lot (66 shares at cut-off)
Rays of Belief Limited IPO Key Facts & Timeline
Rays of Belief Limited IPO: Comprehensive Analysis & Investment Overview
1. Business Model & Operations
Rays of Belief Limited is a Mainboard public offering in the Renewable Energy sector, entering the primary capital markets with a total issue size of ₹380.00 Cr.
Rays of Belief provides end-to-end solar EPC solutions and commercial rooftop solar installations across India.
2. Grey Market Premium (GMP) & Listing Gain Expectations
As per active unlisted primary market quotes, the Grey Market Premium (GMP) for Rays of Belief Limited IPO is currently standing at ₹52. With the upper price band set at ₹226, the implied listing price discovery calculates to ₹278 per share, pointing to an estimated listing pop of +23.0%.
* Note: Grey market figures represent unorganized sentiment and are subject to market volatility. Real listing day gains depend on institutional QIB subscription numbers on Day 3.
3. Retail Application Strategy & Lot Size Math
Retail investors can bid for a minimum of 1 Lot (66 shares) worth ₹14,916. Under SEBI retail allocation guidelines, retail applicants are capped at a maximum bid value of ₹2,00,000 (translating to up to 13 lots).
Pro-Tip: In heavily oversubscribed public issues, allotment in the retail category is decided via a computerized lottery where every valid application is reduced to 1 lot. Applying for multiple lots from the same PAN does not increase allotment odds. To maximize statistical chances, apply 1 lot each from separate family demat accounts.
4. Critical Timeline: From Bid to Exchange Listing
- Public Bidding Closes: 3 September 2026 (5:00 PM cut-off for UPI mandate approval).
- Basis of Allotment: 4 September 2026 (Registrar publishes allotment status).
- Refunds / Unblock Funds: 4 September 2026.
- Demat Credit of Shares: 8 September 2026.
- Official Listing on BSE, NSE: 8 September 2026.
Frequently Asked Questions (FAQs)
What is the current GMP of Rays of Belief Limited IPO?
The Grey Market Premium (GMP) of Rays of Belief Limited IPO is currently quoted at ₹52 per share (+23.0% over cap price of ₹226). Estimated listing price is approximately ₹278.
What is the price band and minimum lot size for Rays of Belief Limited IPO?
The price band for Rays of Belief Limited IPO is fixed between ₹215 and ₹226 per equity share. The minimum application lot size is 66 shares, requiring a minimum retail capital outlay of ₹14,916.
When does Rays of Belief Limited IPO open and close for public bidding?
Rays of Belief Limited IPO bidding opens on 1 September 2026 and closes on 3 September 2026. Bids can be submitted between 10:00 AM and 5:00 PM IST via ASBA net banking or UPI mandate.
When will Rays of Belief Limited IPO allotment status be finalized?
The basis of allotment for Rays of Belief Limited IPO is scheduled to be finalized on 4 September 2026. Successful applicants will have shares credited to their demat account by 8 September 2026.