Rays of Belief IPO Subscription Status
Rays of Belief IPO received bids for 33,79,79,918 shares against 39,22,310 offered, an overall subscription of 107.71x at the close of bidding (3 Sep 2026). NII leads at 279.11x.
Last updated · day 3 figures
- Retail
- 195.87x
- NII
- 279.11x
- QIB
- 9.06x
- Total
- 107.71x
Rays of Belief IPO allotment chances
Approximate · day 3- Retail / Individual 195.87x
- 1 in 173 ≈ 0.58% chance per application
- Based on applications vs lots
- sNII ₹2–10 lakh 229.70x
- 1 in 223 ≈ 0.45% chance per application
- Based on applications vs lots
- bNII Above ₹10 lakh 303.82x
- 1 in 62 ≈ 1.6% chance per application
- Based on applications vs lots
Where the demand is
Rays of Belief IPO subscription by category
| Category | Shares offered | Shares bid | Amount bid | Subscription |
|---|---|---|---|---|
| QIB | 18,30,310 | 1,65,76,630 | ₹396.18 Cr | 9.06x |
| NII | 7,84,500 | 21,89,65,648 | ₹5,233.28 Cr | 279.11x |
| bNII above ₹10 lakh | 5,23,000 | 15,88,98,374 | ₹3,797.67 Cr | 303.82x |
| sNII ₹2–10 lakh | 2,61,500 | 6,00,67,274 | ₹1,435.61 Cr | 229.70x |
| Retail | 5,23,000 | 10,24,37,640 | ₹2,448.26 Cr | 195.87x |
| Total | 39,22,310 | 33,79,79,918 | ₹8,077.72 Cr | 107.71x |
* Shares Offered and Total Amount are calculated based on the upper price of the issue price range. * The portion of anchor investors (or market makers) is not included in the total number of shares offered.
Application-wise breakup and allotment chances
| Category | Lots reserved | Applications | Applied | Chance per application |
|---|---|---|---|---|
| NII | 903 | 99,412 | 110.09x | 1 in 110 |
| bNII | 602 | 37,445 | 62.20x | 1 in 62 |
| sNII | 301 | 67,183 | 223.20x | 1 in 223 |
| Retail | 8,435 | 14,59,785 | 173.06x | 1 in 173 |
"All valid" means applications are fewer than the lots reserved, so every valid application should get at least one lot. When applications exceed lots, allottees are picked by computerised lottery and "1 in X" is the rough chance for one application. The real chance is usually a little better: bids below the cut-off price and invalid applications are removed before the lottery.
Rays of Belief IPO subscription day-wise
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.01x | 9.06x |
| NII | 0.39x | 2.07x | 279.11x |
| bNII | 0.13x | 1.12x | 303.82x |
| sNII | 0.89x | 3.97x | 229.70x |
| Retail | 6.49x | 18.63x | 195.87x |
| Total | 1.18x | 3.63x | 107.71x |
| Total added | 1.18x | +2.45x | +104.08x |
Cumulative figures at the end of each day. Read across a row to see how demand built up. Shading deepens as subscription rises above 1x; "Total added" is how much overall subscription grew that day.
Rays of Belief IPO reservation
| Category | Shares | Share of issue |
|---|---|---|
| Qualified Institutional Buyers | 18,30,310 | 58.33% |
| Non-Institutional Investors | 7,84,500 | 25.00% |
| bNII · above ₹10 lakh | 5,23,000 | 67% of NII |
| sNII · ₹2–10 lakh | 2,61,500 | 33% of NII |
| Retail Individual Investors | 5,23,000 | 16.67% |
| Public issue | 31,37,810 | 100% |
Allotment Chances Note
These are estimates from the latest application and subscription figures. Actual chances are usually somewhat better, because:
- Not every bid is at the cut-off price. Bids below the final issue price are rejected before the lottery, so fewer applications compete.
- Multiple-lot applications count once. In an oversubscribed retail or sNII portion, each application gets at most one minimum lot in the draw, however many lots it bid for.
- Invalid applications drop out. Unapproved UPI mandates, PAN mismatches and duplicate applications are removed before allotment.
Applying for more lots in the retail category does not improve your odds; applying from separate family accounts does.
Rays of Belief IPO subscription: FAQs
- What is the overall subscription of Rays of Belief IPO?
- Rays of Belief IPO is subscribed 107.71x overall as of day 3 (3 September 2026), with bids for 33,79,79,918 shares against 39,22,310 offered.
- What is the retail subscription of Rays of Belief IPO?
- The retail portion is subscribed 195.87x as of day 3 (3 September 2026). 14,59,785 retail applications have been received for 8,435 lots available.
- What is the QIB and NII subscription of Rays of Belief IPO?
- QIBs have subscribed 9.06x of their portion, and NIIs 279.11x (bNII 303.82x, sNII 229.70x) as of day 3 (3 September 2026).
- What are the chances of getting Rays of Belief IPO allotment?
- With 14,59,785 retail applications for 8,435 lots, roughly 1 in 173 retail applicants may get a lot. The actual chance is usually a little better, because bids below the cut-off price and invalid applications are rejected before the lottery.
- How can I check Rays of Belief IPO subscription status live?
- This page shows category-wise and day-wise figures and is updated during bidding hours. The same data is published on the BSE and NSE websites under the issue name.
- How do I apply for Rays of Belief IPO?
- Apply online through your broker or bank using UPI or ASBA. Choose the IPO, enter the number of lots and bid price (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on 3 September 2026.
Subscription figures are compiled from BSE and NSE bid data and can be revised by the exchanges after the issue closes. For information only; not investment advice.