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New Delhi, Aug 31 (PTI) Rays of Belief Ltd, which operates under the Mom’s Belief brand, on Monday raised Rs 50 crore from five anchor investors ahead of its initial public offering (IPO).
The anchor investors are Viney Growth Fund, LRSD Securities, Nova Global Opportunities Fund PCC – Touchstone, 31 Degrees North Fund-1 and Visionary Value Fund, according to a circular uploaded on BSE website.
As per the circular, the company allotted 20.92 lakh equity shares to anchor investors at Rs 239 per share.
The IPO, with a price band of Rs 227-239 per share, will open for subscription on September 1, and conclude on September 3. The IPO comprises a fresh issue of up to 52.30 lakh equity shares worth Rs 125 crore at the upper end of the price band.
The
issue proceeds will be used to fund the company’s expansion plans, including setting up 319 new centres between fiscal 2027 and fiscal 2029.
Also, funds will be allocated towards capital expenditure, including centre fit-outs, therapy-material inventory and technology hardware.
Rays of Belief is a for-profit social enterprise providing personalised intervention plans for children with neurodevelopmental disorders (NDDs), including autism spectrum disorder, ADHD, Down Syndrome, cerebral palsy, intellectual disability, learning disabilities and global developmental delays.
As of March 31, 2026, the company operated 136 centres across 57 cities in 20 states and union territories and had served more than 58,000 children since commencing operations in 2018.
The company’s consolidated revenue from operations more than doubled to Rs 81.66 crore in fiscal 2026 from Rs 36.42 crore in the previous fiscal. Profit for the year stood at Rs 4.96 crore in fiscal 2026, compared with Rs 5.88 crore in the preceding fiscal.
The equity shares are proposed to be listed on the BSE and NSE on or about September 8. PTI SP MR
