Rays of Belief IPO Subscription Status — Day-wise, QIB, NII & Retail
Rays of Belief IPO subscription status shows how many times the issue was bid for, split across QIB, NII and retail categories. It was subscribed 77.15x on NSE at close, as of 3 Sep 2026, 19:00 IST (NSE) — the category breakdown is below.
Subscription window: 1 Sep 2026 to 3 Sep 2026. Page data as of 11 Sep 2026.
Rays of Belief subscription by category
| Category | Shares offered | Shares bid for | Times subscribed |
|---|---|---|---|
| QIB | 1,830,310 | 14,970,768 | 8.18x |
| NII | 784,500 | 169,398,632 | 215.93x |
| bNII (above Rs 10 lakh) | 523,000 | 127,499,838 | 243.79x |
| sNII (Rs 2–10 lakh) | 261,500 | 41,898,794 | 160.22x |
| Retail (RII) | 523,000 | 57,698,006 | 110.32x |
| Total | 3,137,810 | 242,067,406 | 77.15x |
NSE bids only, as of 3 Sep 2026, 19:00 IST (NSE). A dash means NSE had not reported that row. Symbol MOMSBELIEF.
Rays of Belief subscription categories explained
- QIB — qualified institutional buyers (mutual funds, banks, FIIs). Strong QIB demand is often read as a confidence signal.
- NII / HNI — non-institutional bids above Rs 2 lakh (sNII Rs 2–10 lakh, bNII above Rs 10 lakh).
- Retail — applications up to Rs 2 lakh. Heavy retail oversubscription means allotment by lottery.
How subscription affects Rays of Belief allotment and GMP
The more the retail portion is oversubscribed, the lower each applicant's odds — allotment becomes a lottery for one lot. Sentiment shows up in the grey market too: Rays of Belief's latest tracked GMP is Rs 20 (8.37% of the upper band). GMP is unofficial and volatile — never a forecast. See Rays of Belief's GMP page and how allotment works in allotment tips.
FAQs
What is Rays of Belief IPO subscription status?
Rays of Belief was subscribed 77.15x on NSE as of 3 Sep 2026, 19:00 IST (NSE). The table on this page breaks that down by QIB, NII and retail.
Does high subscription mean I will get Rays of Belief allotment?
No — the opposite. Heavy retail oversubscription means allotment is by lottery, so your odds fall. High subscription signals demand, but does not improve your individual allotment chance.