Rays of Belief IPO

Incorporated in 2017, Rays of Belief Ltd. is a for-profit social enterprise providing personalised intervention plans for children with Neurodevelopmental Disorders (NDDs), including Autism Spectrum Disorder (ASD), ADHD, Down Syndrome, Cerebral Palsy, Intellectual Disability, Learning Disabilities and Global Developmental Delays. The Company started its first centre in Gurgaon in 2018 and has since expanded from 71 centres in Fiscal 2023 to 136 centres as of March 31, 2026, under its brand name Mom's Belief. These centres are spread across 57 cities and 20 states and union territories in India, with a strong presence in Tier 2 cities (42 Tier 1, 77 Tier 2 and 17 Tier 3 centres). The Company primarily serves children aged 18 months to 12 years, with specialised programs available up to age 15, focusing on vocational and life skills. Its multidisciplinary services include early intervention, parental guidance, occupational therapy, language therapy and family support programs. In June 2025, Rays of Belief Ltd. acquired Mom's Belief US, Inc. as its wholly owned subsidiary and Allergy and Immunology Virginia, LLC as its step-down subsidiary in the USA, adding three centres in Virginia (Salem, Lynchburg and Roanoke).