Rays of Belief IPO: How to check allotment status on Kfin Tech, BSE, NSE, fresh GMP & listing date

Rays of Belief, the parent company of Mom's Belief, is set to finalize the basis of allotment of its equity shares on Friday, September 04. The investors applying for the issue may check the status of their applications on the websites of the registrar, NSE or BSE. However, those who shall not get the allotment will see their mandate revoked by the same day.

Here's how the applicants, who had bid for the issue of Rays of Belief IPO:

1. On the website of Registrar:

• Go to the web portal of KFin Technologies Ltd 
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.

2. On the website of NSE

• Visit NSE's IPO allotment page
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘MOMSBELIEF’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed

3. On the website of BSE

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select Rays of Belief Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

To recall, the IPO of Rays of Belief was sold in the price band of Rs 227-239 apiece between September 01 and September 03. The company sold the issue with a lot size or 62 equity shares and its multiples thereafter. It raised a total of Rs 125 crore via IPO, with issue being overall subscription of a solid 107.71 times, fetching more than 15.56 lakh applications and bids for nearly Rs 8,100 crore.

On an individual basis, the portion reserved for non-institutional investors (NIIs) saw a subscription of 279.11 times, while the portion for retail investors was subscribed 195.87 times. The allocation for qualified institutional bidders (QIBs) was subscribed only 9.06 during the three-day subscription period.

Following the muted subscription, the grey market premium (GMP) of Rays of Belief has seen a sharp correction. Last heard, Mom's Belief IPO was commanding a GMP of Rs 12-15 apiece, suggesting a muted listing of 5-6 for the investors. Its premium stood around Rs 42-48 before during the bidding period.

Mefcom Capital Markets is the sole book running lead manager of Rays of Belief IPO and Kfin Technologies Ltd is the registrar of the issue. Refunds of the bidding amount are expected to be processed on Monday, September 07. Shares of the company shall be listed on both BSE Ltd and NSE with September 08, Tuesday as the date of listing.