LRSD Capital Pvt Ltd acquired a 6.48% stake in Rays of Belief Limited through an initial public offering allotment. The transaction involved the purchase of 13,54,233 equity shares on September 4, 2026.

The acquisition was made in concert with RGSL Investment LVF 1 and Ritu Dua. LRSD Capital is not part of the promoter group of Rays of Belief Limited. The shares were allotted as part of the IPO process, with the company scheduled to list on the NSE and BSE on September 8, 2026.

Acquisition Details

The filing under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, discloses the following shareholding structure:

Before this acquisition, LRSD Capital and its Persons Acting in Concert held no shares or voting rights in Rays of Belief Limited. Following the allotment, their total holding stands at 13,54,233 shares, representing 6.48% of the total diluted share capital.

What the Numbers Show

The total equity share capital of Rays of Belief Limited remains at 2,09,01,682 equity shares of ₹10 each after the acquisition. This indicates that the shares acquired by LRSD Capital were likely part of the fresh issue component of the IPO rather than an open market transfer from existing shareholders, as the total voting capital figure did not change between the pre-acquisition and post-acquisition disclosures in the filing.

RGSL Investment LVF 1 is included as a Person Acting in Concert by way of abundant caution. Its corpus is predominantly contributed by Rajasthan Global Securities Private Limited and LRSD Capital Private Limited. Investment decisions for the scheme are exercised by its Investment Manager in accordance with applicable fund documents.