GENERAL3 Sept 2026
Rays of Belief IPO Day 3: Issue subscribed 13.63x so far. Check GMP, reviews, & other details. Apply or not? | Stock Market News
Rays of Belief IPO enters its last bidding day today, subscribed 13.63 times so far. The issue is priced at up to ₹239 per share, with a grey market premium of ₹59, hinting at a listing near ₹298. Retail investors have bid 49.33 times, but brokers flag short profit history and negative cash flow, advising caution.
Key Statutory Highlights
- The IPO was subscribed 13.63 times overall, with retail at 49.33 times, NII at 21.54 times and QIB at 0.04 times.
- The grey market premium is ₹59, suggesting an estimated listing price of ₹298, a 24.69% gain over the ₹239 upper price band.
- Swastika Investmart has a 'Neutral' rating, noting a short profit history, negative FY26 operating cash flow and expansion risks.
Actionable Advice for Taxpayers / Founders:If you're considering this IPO, weigh the growth story against the broker's caution and decide by today's deadline.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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