Rays of Belief IPO GMP History
Final pre-listing GMP reading: 8 Sept 2026, 5:00 am IST
GMP applies before listing only. The figures below are a historical record of grey market sentiment ahead of the debut on 8 Sept 2026 — see listing performance for the actual outcome.
GMP trend
GMP moved from ₹0 on 20 Aug 2026 to ₹15 on 8 Sept 2026.
Day-wise GMP history
| Date | GMP | Implied Return | Subject to Sauda | Implied Listing |
|---|---|---|---|---|
| 8 Sept 2026 | ₹15 | +6.3% | — | ₹254 |
| 7 Sept 2026 | ₹15 | +6.3% | ₹700 | ₹254 |
| 6 Sept 2026 | ₹17 | +7.1% | ₹900 | ₹256 |
| 5 Sept 2026 | ₹7 | +2.9% | ₹500 | ₹246 |
| 4 Sept 2026 | ₹11 | +4.6% | ₹600 | ₹250 |
| 3 Sept 2026 | ₹12 | +5.0% | ₹600 | ₹251 |
| 2 Sept 2026 | ₹38 | +15.9% | ₹2,000 | ₹277 |
| 1 Sept 2026 | ₹38 | +15.9% | ₹1,800 | ₹277 |
| 31 Aug 2026 | ₹48 | +20.1% | ₹2,300 | ₹287 |
| 30 Aug 2026 | ₹35 | +14.6% | ₹1,600 | ₹274 |
| 29 Aug 2026 | ₹27 | +11.3% | ₹1,200 | ₹266 |
| 28 Aug 2026 | ₹29 | +12.1% | ₹1,400 | ₹268 |
| 27 Aug 2026 | ₹10 | +4.2% | ₹500 | ₹249 |
| 26 Aug 2026 | ₹18 | +7.5% | ₹800 | ₹257 |
| 25 Aug 2026 | ₹0 | +0.0% | ₹0 | ₹239 |
| 24 Aug 2026 | ₹0 | — | ₹0 | ₹239 |
| 23 Aug 2026 | ₹0 | — | — | ₹239 |
| 22 Aug 2026 | ₹0 | — | — | ₹239 |
| 21 Aug 2026 | ₹0 | — | — | ₹239 |
| 20 Aug 2026 | ₹0 | — | — | ₹239 |
GMP is an unofficial figure sourced from grey market dealers and is not a guarantee of the listing price. Provided for information only, not investment advice. How we source GMP · Disclaimer
Reading this GMP history
How the GMP moved
Dealer quotes for the Rays of Belief IPO open this series at ₹0 on 20 Aug 2026. The premium touched its high of ₹48, roughly +20.1% on the issue price on 31 Aug 2026. The final reading before listing was ₹15, dated 8 Sept 2026. Over the 20-day span, that is a net rise of ₹15 per share. Day-end readings ranged between ₹0 and ₹48 across 20 days of data — a band of ₹48 that shows how much dealer sentiment shifted while the quote was live.
GMP versus the actual listing
The closing grey market quote of ₹15 translated to an implied listing near ₹254, against the ₹239 issue price. The stock actually debuted at ₹239, a listing gain of +0.0% on the issue price. That puts the actual debut ₹15 below what the final premium implied — a gap worth noting when weighing how much signal GMP carried for this issue.
Kostak and subject-to-sauda
Alongside the headline premium, dealers also quoted application-level rates for this issue. The subject-to-sauda rate — what a buyer pays for an application that is honoured only if it wins allotment — was last quoted at ₹700 per application as of 7 Sept 2026. Unlike a kostak deal, where an application changes hands at a fixed price regardless of the outcome, a sauda payout depends entirely on the allotment draw. At the prevailing premium, the dealer-estimated profit per lot stood at ₹930 on a lot of 62 shares. Both metrics come from the same dealer network as the GMP itself and move with it. Every grey market figure on this page is an unofficial number collected from grey-market dealers; it is not published by the company or the exchanges and is not a guarantee of the actual listing price.
Frequently asked questions
- What is the Rays of Belief IPO price band?
- The Rays of Belief IPO price band is ₹227 to ₹239 per share, with a lot size of 62 shares.
- What was the Rays of Belief IPO GMP before listing?
- The final grey market premium recorded before the Rays of Belief IPO listed was ₹15. The IPO listed on 8 Sept 2026 at ₹239, +0.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When is the Rays of Belief IPO allotment and listing date?
- Allotment is expected on 4 Sept 2026. The shares are scheduled to list on 8 Sept 2026 on NSE and BSE.