Rays of Belief Ltd IPO

About Rays of Belief Ltd

Our Company was originally incorporated as Rays of Belief Private Limited as a private limited company under the provisions of the Companies Act, 2013 pursuant to a certificate of incorporation dated August 23, 2017, issued by the Central Registration Centre. Subsequently, upon conversion of our Company into a public limited company, our name was changed to Rays of Belief Limited pursuant to a resolution passed by our Board dated October 30, 2024 and by our Shareholders on November 04, 2024, and a fresh certificate of incorporation was issued by the Central Processing Centre on November 25, 2024.

The NDD care and intervention industry in India is experiencing robust growth, driven by rising prevalence of conditions like ASD, ADHD, DS, and others, as well as increased awareness, earlier diagnoses, and significant advancements in technology and therapeutic approaches. The market size for NDDs was estimated at Rs. 52,623 million as of March 2025, with ASD, ADHD, and Cerebral Palsy comprising the majority share; sub-segments such as ASD and ADHD therapy are expected to maintain strong compound annual growth rates over the next decade. Key growth drivers include public awareness campaigns, government and NGO initiatives, and the adoption of digital health tools and multidisciplinary care models, though the industry faces ongoing challenges related to regulatory fragmentation, workforce shortages, cost barriers, regional disparities in service access, and residual social stigma. With no Indian listed peers, the sector references larger-scale global behavioral health providers for benchmarking, while domestic leaders like Rays of Belief Ltd. are distinguished by extensive networks and geographic reach. The outlook for the sector remains positive as policy reforms, continued investment, and technological innovation progressively address care gaps and enable better outcomes for children and families affected by NDDs across India.

Our Company is a For-Profit Social Enterprise providing intervention plans for children with Neurodevelopmental Disorders (NDDs). Such plans are personalised based on each child's unique needs and condition severity. NDDs include Autism Spectrum Disorder (ASD), Attention-Deficit/ Hyperactivity Disorder (ADHD), Down Syndrome (DS), Cerebral Palsy (CP), Intellectual Disability (ID), Learning Disabilities (LD), and Global Developmental Delays (GDD).

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