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Rays of Belief opens Rs 125cr IPO as 319-centre expansion puts profitability under scrutiny

Rays of Belief is seeking a roughly ₹500 crore valuation as it prepares to expand the Mom’s Belief neurodevelopmental-care network from 136 to 455 centres. Revenue more than doubled in FY26, but profit declined, leaving investors to decide whether the 319-centre expansion can create enough operating leverage to support a post-issue earnings multiple of about 101 times.
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Milky Mist cuts IPO to Rs 1,553cr after Temasek deal as debt and dairy expansion take centre stage

Milky Mist Dairy Food Limited has reduced its planned initial public offering by nearly 24% after a ₹482 crore pre-listing transaction with a Temasek Holdings unit. The smaller offer still provides substantial growth capital, but investors must decide whether rapid revenue expansion, improving margins and premium dairy demand justify the company’s debt-heavy balance sheet and continued capital intensity.