Rays of Belief Limited has announced the approval of its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The company also provided a detailed statement on the utilization of funds raised through its Initial Public Offering (IPO), confirming no deviation or variation in fund usage. The IPO, which concluded with allotments in September 2026, raised a substantial amount, with the fresh issue alone accounting for ₹1,249.97 crore.
Financial Results and Board Approval
Rays of Belief Limited has formally approved its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. This approval was granted during a board meeting held on November 12, 2026. The results were reviewed and recommended by the Audit Committee. The company also presented the Limited Review Reports issued by Suri & Sudhir, Chartered Accountants, its statutory auditors.
IPO Fund Utilization
In a separate disclosure, Rays of Belief Limited confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO). The company’s board reviewed and approved this statement under Regulation 32 of SEBI (LODR) Regulations 2015. The funds were raised via a Public Issue – Initial Public Offer (including Pre-IPO Placement), with allotments completed by September 2026 and listing on NSE and BSE on September 8, 2026. The total amount raised was ₹130.892 crore, comprising a fresh issue of ₹124.997 crore and a Pre-IPO Placement of ₹5.895 crore.
Key IPO Objectives and Fund Deployment
The funds raised are earmarked for specific objectives. These include capital expenditure towards establishing new centres on leased premises and associated technology (₹41.361 crore), lease payments for existing centres in India (₹14.445 crore), investment in subsidiary Mom’s Belief US Inc. for lease/licence payments in the USA (₹10.131 crore), and brand awareness and inclusive outreach programs (₹10.208 crore). Additionally, funds are allocated for inorganic growth through unidentified acquisitions and general corporate purposes (₹38.547 crore), and issue-related expenses (₹16.200 crore). The total allocated funds amount to ₹130.892 crore, with ₹43.453 crore utilized as of the report date.
Other Disclosures
The financial results are also available on the company’s website, https://www.momsbelief.com/, as well as on the websites of the BSE Limited and the National Stock Exchange of India Limited. The company’s equity shares were listed on both the NSE and BSE on September 8, 2026.
Source: BSE
