Rays of Belief shares expected to be allotted today following 107.71x over-subscription
Investors await share allotment for the heavily oversubscribed Rays of Belief IPO as the company prepares to list on September 8, 2026.
The allotment period for the Rays of Belief IPO is expected to conclude today, September 4, after the offer received a subscription multiple of 107.71 times overall. The retail segment outperformed this average with a subscription multiple of 195.87 times, while Qualified Institutional Buyers subscribed only 9.06 times. The public issue raised a total of Rs 125 crore through a fresh offer of 52.30 lakh shares at a price band of Rs 227 to Rs 239 per share. Following the announcement of allotment results, the grey market premium stands at 5%, suggesting investors anticipate a positive listing gain when the stock debuts on September 8, 2026, on both the BSE and NSE. The company had opened subscription from September 1 to September 3, 2026.
