Rays Of Belief Limited IPO
Rays Of Belief Limited IPO
Mainboard NSE & BSE 100% Book Built Offer

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

Fresh Issue
Rs. TBA Cr (0.60 Cr Shares)

Objects of the Issue

Funding capital expenditure towards establishment of new centres on leased premises and associated technology (hardware) costs.

₹57.62 Cr

Expenditure for lease payments for the existing centres in India.

₹14.44 Cr

Investment in the Subsidiary, Mom's Belief US Inc., for making lease / license payments for the existing centres in the USA.

₹10.13 Cr

Expenditure for brand awareness and inclusive outreach programs.

₹10.2 Cr

Funding inorganic growth through unidentified acquisition and general corporate purposes.

₹TBA Cr

Rays of Belief IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for Rays of Belief IPO
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%

Carving Futures Pte. Ltd. 92.63%
Nitin Bindlish 0.30%

Management

Nitin Bindlish
MD
Ved Prakash
CFO

Registrar & Lead Managers

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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