# Deepa Jewellers Vs Rays Of Belief IPO: GMP, Price Band And Which One To Choose

> Two mainboard IPOs, Deepa Jewellers and Rays of Belief, open for subscription on September 1, presenting investors with a choice between a jewellery wholesaler and a social enterprise.

**Type:** article · **Category:** Money · **Published:** 2026-08-31 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/money/dipa-jvailarsa-aura-reja-pha-bilipha-ipo-men-takkara-janie-kisa-para-danva-lagana-behatara-25272 · **Language:** English
**Tags:** Deepa Jewellers IPO, Rays of Belief IPO, IPO GMP, IPO Price Band, Stock Market, IPO Listing

The Indian primary market is bracing for a busy week as two distinct mainboard IPOs open for subscription on September 1. Investors are faced with a challenging choice between Deepa Jewellers and Rays of Belief, both of which will ultimately list on the BSE and NSE after their respective allotment processes conclude. Although their calendars overlap entirely, the two companies operate in vastly different sectors, with one focusing on precious jewellery wholesale and the other running specialized intervention centres for children.

## Deepa Jewellers IPO Details And Price Band
Deepa Jewellers is launching a public issue worth Rs. 459.7 crore, which will remain open for bidding from September 1 to September 3. The company has fixed a price band of Rs. 168 to Rs. 177 per share for the offering. Investors can bid for a minimum lot size of 84 shares, requiring a baseline retail investment of Rs. 14,868 at the upper end of the price band. The overall issue structure consists of a fresh issue of Rs. 250 crore combined with an offer for sale amounting to Rs. 209.7 crore. The firm is primarily involved in the wholesale and retail trade of 22K hallmarked gold and diamond jewellery.

## Rays Of Belief IPO Structure
In contrast to the mixed structure of Deepa Jewellers, the Rays Of Belief IPO is entirely a fresh issue with no offer for sale component included. The business operates as a for-profit social enterprise that manages intervention facilities for children diagnosed with neurodevelopmental disorders. Despite their contrasting business models, both offerings are capturing investor attention ahead of their launch, sparking considerable discussion regarding where capital should be deployed given the concurrent schedules.

## Grey Market Premium And Expected Gains
Both public issues are generating a healthy level of demand in the grey market ahead of their opening dates. The Deepa Jewellers IPO commands a current grey market premium of Rs. 38, pointing toward an estimated listing price of Rs. 215 and a potential profit margin of 21.47% at the upper price band. Meanwhile, the Rays Of Belief IPO records a grey market premium of Rs. 39. With an upper price band set at Rs. 239 per share, its estimated listing price hovers around Rs. 278, projecting a potential listing gain of 16.32% over the issue price.

## Allotment And Listing Timelines
Following the closure of the bidding windows, the share allotment finalisation for both companies is scheduled for September 4. Refund initiations and credit of shares to demat accounts will follow shortly thereafter. Both equities are tentatively slated to make their official market debut on September 8. Investors must weigh the distinct fundamentals, growth trajectories, and grey market sentiments of a traditional jewellery merchant versus a specialized healthcare and social enterprise before allocating funds.

## What this means for you
Retail investors evaluating these concurrent initial public offerings need to assess their capital allocation and personal risk appetite carefully.

- **Across India:** The simultaneous arrival of two mainboard issues divides investor liquidity across different sectors, which may influence subscription figures. Investors should thoroughly review the fundamental strengths and financial health of each company before committing capital.
- **Financial Impact:** Minimum retail investment for Deepa Jewellers starts at Rs. 14,868, while positive grey market premiums indicate potential listing gains for both issues. Investors should plan their fund management ahead of the September 4 allotment finalisation and the tentative September 8 listing date.

## Questions & Answers

### 1. When does the Deepa Jewellers IPO open?
The Deepa Jewellers IPO is open for bidding from September 1 to September 3.

### 2. What is the total size of the Deepa Jewellers IPO?
The IPO is worth Rs. 459.7 crore, comprising a fresh issue of Rs. 250 crore and an offer for sale of Rs. 209.7 crore.

### 3. What is the price band for the Rays Of Belief IPO?
The upper price band for the Rays Of Belief IPO is set at Rs. 239 per share.

### 4. When are the IPOs tentatively slated to list?
Both companies are tentatively slated to list on the BSE and NSE on September 8.

### 5. What is the minimum investment for the Deepa Jewellers IPO?
The minimum retail investment is Rs. 14,868 at the upper price band based on an 84-share lot size.

---
_TrendKia — Har trend, sabse pehle.. Machine-readable view; canonical HTML at the URL above._