The Rays of Belief IPO allotment was finalised on September 4, with the grey market premium indicating a 7.11% listing gain. The grey market premium stood at ₹17, suggesting a listing price of ₹256 per share, above the IPO price. Refunds for unallocated shares are scheduled to begin on September 7, according to livemint.com.
Investors can check their allotment status through Kfin Technologies Ltd, the registrar for the IPO. The allotment process concluded on the same day, confirming the distribution of shares to successful applicants. The IPO received strong interest, reflected in the positive grey market premium ahead of the listing.
This allotment outcome highlights the demand for Rays of Belief shares in the primary market. A 7% premium on the grey market suggests investor confidence and potential upside on listing day. The IPO's performance aligns with recent trends where well-received issues have recorded modest listing gains, reinforcing market appetite for new equity offerings in the sector.
Refunds for investors who did not receive shares will be processed starting September 7. The official listing date will reveal whether the grey market premium translates into actual market gains, providing a clear indicator of investor sentiment toward Rays of Belief’s market debut.