Business Overview
Rays of Belief Limited 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. Operating under the brand Mom's Belief, the company addresses key barriers in the behavioural health domain such as limited awareness, inadequate access, quality of care and affordability. As of September 30, 2025, it ranks first in India and seventh globally by number of centres offering NDD intervention plans, operating 136 centres across 57 cities in 20 states and union territories, covering Tier 1, Tier 2 and Tier 3 cities including semi-urban geographies.
Rays of Belief IPO Size
Objects of the Issue
Funding capital expenditure towards establishment of new centres on leased premises and associated technology (hardware) costs.
Expenditure for lease payments for the existing centres in India.
Investment in the Subsidiary, Mom's Belief US Inc., for making lease / license payments for the existing centres in the USA.
Expenditure for brand awareness and inclusive outreach programs.
Funding inorganic growth through unidentified acquisition and general corporate purposes.
Rays of Belief IPO Financial Performance
(Rs. in crores)
| Particulars | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 43.15 | 36.42 | 30.61 | 22.13 |
| PAT | 1.35 | 5.88 | 0.85 | -8.46 |
| Net Worth | 23.76 | 15.02 | 5.78 | 4.36 |
| Borrowings | 4.00 | 4.36 | 0.00 | 0.00 |
| Assets | 46.49 | 26.12 | 12.89 | 7.78 |
| NAV (₹) | 11.53 | - | - | - |
| EPS (₹) | 0.88 | 3.84 | 0.56 | -5.54 |
Key Performance Indicators (KPIs)
EBITDA
8.28%
PAT
16.15%
ROE
56.56%
All the data pertains to FY 2024-25. PE, PB, and market capitalization are calculated based on the Upper Price Band
Promoter Holding
Promoter
92.93%
Public
7.07%
Management
Registrar & Lead Managers
Registrar
KFin Technologies
Lead Managers (1)
Company Details
Name: Rays Of Belief Limited
Address: J-1919, Basement, Chittranjan Park, New Delhi, India - 110 019
Number: +91 124 4075498
Email: cs@momsbelief.com
Website: https://www.momsbelief.com
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