Rays of Belief IPO lot size and price band
The Rays of Belief IPO lot size is 62 shares. At the upper price band of ₹239, one lot costs ₹14,818: that is the minimum investment.
A retail application can be for 1 to 13 lots (up to ₹1,92,634, under the ₹2 lakh retail limit). HNI (NII) applications start at 14 lots (₹2,07,452), and big HNI above ₹10 lakh at 68 lots.
The price band is ₹227 to ₹239. The final issue price is set inside it after bidding and was ₹239; the amount blocked is worked out at the upper end, so a lower final price releases the difference. At the lower end one lot would cost ₹14,074.
Rays of Belief IPO: how many shares to bid for
The smallest and largest bid in each category, at the upper price band. Enter the number of shares (or lots) shown.
| Category | Minimum bid | Maximum bid |
|---|---|---|
| Retail (up to ₹2 lakh) | 62 shares (1 lot), ₹14,818 | 806 shares (13 lots), ₹1,92,634 |
| Small HNI (₹2 lakh to ₹10 lakh) | 868 shares (14 lots), ₹2,07,452 | 4154 shares (67 lots), ₹9,92,806 |
| Big HNI (above ₹10 lakh) | 4216 shares (68 lots), ₹10,07,624 | no upper limit |
Rays of Belief IPO amount by number of lots
At the upper price band. Retail covers bids up to ₹2 lakh, small HNI above ₹2 lakh up to ₹10 lakh, big HNI above ₹10 lakh.
| Lots | Shares | Amount | Category |
|---|---|---|---|
| 1 | 62 | ₹14,818 | Retail |
| 2 | 124 | ₹29,636 | Retail |
| 3 | 186 | ₹44,454 | Retail |
| 4 | 248 | ₹59,272 | Retail |
| 5 | 310 | ₹74,090 | Retail |
| 6 | 372 | ₹88,908 | Retail |
| 8 | 496 | ₹1,18,544 | Retail |
| 10 | 620 | ₹1,48,180 | Retail |
| 13 | 806 | ₹1,92,634 | Retail |
| 14 | 868 | ₹2,07,452 | Small HNI |
| 68 | 4216 | ₹10,07,624 | Big HNI |
What lot size and price band mean
The lot size is the smallest number of shares you can bid for, and bids go up in whole lots. The price band is the range within which you can bid; most IPOs end up priced at its top.
Retail applicants can bid at the cut-off price, which means accepting whatever the final price is. The amount blocked is calculated at the top of the band.
Questions
What is the Rays of Belief IPO lot size?
62 shares per lot.
What is the minimum investment in the Rays of Belief IPO?
₹14,818: one lot of 62 shares at the upper price band.
How many lots can a retail investor apply for in Rays of Belief?
Up to 13 lots (₹1,92,634); one more lot would pass the ₹2 lakh retail limit.
What is the minimum HNI application in Rays of Belief?
14 lots, ₹2,07,452.
What is the Rays of Belief IPO price band?
₹227 to ₹239.
Learn more
- Lot size and price band explained
- How many lots to apply for
- The cut-off price
- What is the HNI category?
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Information, not investment advice. GMP is an unofficial grey-market indicator; figures come from public sources (InvestorGain) and may be late or wrong. Not registered with or affiliated to SEBI, the exchanges, the registrars or InvestorGain.