Deepa Jewellers

** Shares of India's Rays of Belief RAYF.NS rise 15% to 256.34 rupees

** For-profit social enterprise reports June-quarter consolidated net profit of 27.9 million rupees vs loss of 5.4 million rupees a year earlier

** Consolidated revenue from operations more than doubles to 253.1 million rupees in the quarter from 107.1 million rupees a year earlier

** Stock up 12.3% since listing on September 8, 2026

(Reporting by Payel Das in Bengaluru)

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Sept 17 (Reuters) - Rays of Belief Ltd RAYF.NS:

• RAYS OF BELIEF - MAKES FURTHER INVESTMENT OF $2 MILLION IN MOM’S BELIEF US VIA RIGHTS ISSUE

Source text: ID:nBSEc4mZrK

Further company coverage: RAYF.NS

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** Shares of India's Deepa Jewellers DEEJ.NS rise 13.6% to 201.10 rupees in trading debut

** Stock listed at 221 rupees, a 24.86% premium over IPO issue price of 177 rupees

** Trading volume at 32.2 million shares

** Company valued at 19.35 billion rupees ($204.31 million)

** The company's 4.6 billion-rupee IPO was subscribed 42.6 times last week

** Analysts said the company is well-positioned to benefit from growing B2B demand across South India and its strength in specialised jewellery categories such as vaddanam, a traditional South Indian gold waist belt, and CNC bangles

** IPO comprises fresh issue of 2.5 billion rupees and offer for sale of shares worth up to 2.1 billion rupees

($1 = 94.7100 Indian rupees)

(Reporting by Payel Das in Bengaluru)

(([email protected]))