NSEAcquisition1d ago · 17 Sept 2026, 05:45 pm
Acquisition
Rays of Belief Limited · MOMSBELIEF
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Rays of Belief Limited has informed the Exchange regarding the Intimation for further Investment in the share capital of Mom's Belief US Inc, Wholly Owned Subsidiary of the Company.
Analysis Scores
Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk3/10
Balance Sheet Risk4/10
Liquidity Impact8/10
Market Sentiment6/10
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Full Announcement
Rays of Belief Limited has informed the Exchange regarding the Intimation for further Investment in the share capital of Mom''s Belief US Inc, Wholly Owned Subsidiary of the Company
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ROBL_17092026174501_Intimation_for_Investment_in_Subsidiary.pdf
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Rays of Belief Limited
Date: September 17, 2026
National Stock Exchange of India Limited BSE Limited
Exchange Plaza Plot No. C/1 Phiroze Jeejeebhoy Towers
Block G, Bandra-Kurla Complex, Dalal Street
Bandra (East), Mumbai-400051. Mumbai-400 001.
Scrip Symbol: MOMSBELIEF Scrip Code: 544906
Sub: Intimation of further investment in Mom’s Belief US Inc,Wholly Owned Subsidiary of the
Company under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).
Dear Sir/ Madam,
In furtherance to the Objects of the Initial Public Offer (“IPO”) as per the prospectus of the Company
dated September 08, 2026 and pursuant to Regulation 30(6) read with Schedule III Part A Para A (1) of
the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended, we would like to inform you that the Company has made a further
investment in Mom’s Belief US Inc, Wholly Owned Subsidiary of the Company, through right issue.
The details as required under Regulation 30 of the SEBI Listing Regulations read with Annexure 18 of
the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, last updated on January
30, 2026, are enclosed herewith as Annexure- A.
We request you to kindly take the same on record.
Thanking You,
For Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Mayank Bhargava
Company Secretary
ICSI Mem. No. A53418
Date:17.09.2026
Place: Gurugram
Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Corp office - 18/1, T Block, Near DLF City Club, DLF Phase III, Sector 24, Gurugram 122001,INDIA
Tel: 0124-4075498; Email: contact@momsbelief.com
Regd. Office – J-1919, Basement, Chittranjan Park, New Delhi – 110 019;
CIN: U85110DL2017PLC322623
Rays of Belief Limited
Annexure – A
Details required as per Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated
January 30, 2026
S. Details of Events required to be disclosed Disclosure(s)
1 Name of the target entity, details in brief such as size, Name of Entity: Mom’s Belief US
turnover etc. Inc. (wholly owned subsidiary of
the Company)
Date of Incorporation - April 04,
2025
Paid up Capital: as on 31st March
2026 is USD 100
Turnover: as on 31st March 2026
is USD 38,25,615
2 Whether the acquisition would fall within related party The transaction fall under related
transaction(s) and whether the promoter/ promoter group/ party transaction and is at arm’s
group companies have any interest in the entity being length.
acquired? If yes, nature of interest and details thereof and
whether the same is done at “arm’s length” Except to the extent of shares held
by the company in Mom’s Belief
US Inc, none of the
promoter/promoter group has any
interest in its WOS.
3 Industry to which the entity being acquired belongs Healthcare Industry
4 Objects and impact of acquisition (including but not The acquisition will enable the
limited to, disclosure of reasons for acquisition of target Company to leverage the existing
entity, if its business is outside the main line of business of capabilities, infrastructure and
the listed entity); expertise of the target entity and
explore opportunities for providing
specialised healthcare services.
5 Brief details of any governmental or regulatory approvals No specific government/statutory
required for the acquisition approvals is required except
compliances under Foreign
Exchange Management Act, 1999.
6 Indicative time period for completion of the acquisition Shares acquired on 17th September,
2026
7 Consideration - whether cash consideration or share swap Cash
or any other form and details of the same
8 Cost of acquisition and/or the price at which the shares are The Board has approved a further
acquired investment equivalent to USD
2,000,000 (approximately
Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Corp office - 18/1, T Block, Near DLF City Club, DLF Phase III, Sector 24, Gurugram 122001,INDIA
Tel: 0124-4075498; Email: contact@momsbelief.com
Regd. Office – J-1919, Basement, Chittranjan Park, New Delhi – 110 019;
CIN: U85110DL2017PLC322623
Rays of Belief Limited
INR.19.19 Cr.) at par value, i.e.,
USD 1 per share.
9 Percentage of shareholding / control acquired and / or There will be no change in
number of shares acquired shareholding structure and the
Company will continue to hold
100% of the share capital of Mom’s
Belief US Inc.,
10 Brief background about the entity acquired in terms of Brief background:_ The company
products/line of business acquired, date of incorporation, engaged in the business of
history of last 3 years turnover, country in which the specialises in the medical discipline
acquired entity has presence and any other significant of allergy and immunology which is
information (in brief) dedicated to the diagnosis,
treatment and ongoing management
of disorders related to the immune
system and allergic conditions.
Date of Incorporation: April 04,
2025
Country: United States of America
History of last 3 years’ turnover:
FY 2025-26: USD 38,25,615
Rays of Belief Limited
(Formerly known as Rays of Belief Private Limited)
Corp office - 18/1, T Block, Near DLF City Club, DLF Phase III, Sector 24, Gurugram 122001,INDIA
Tel: 0124-4075498; Email: contact@momsbelief.com
Regd. Office – J-1919, Basement, Chittranjan Park, New Delhi – 110 019;
CIN: U85110DL2017PLC322623