Rays of Belief Acquires 100% of City Pro Group Inc. for USD 2 Million
Rays of Belief Limited acquired 100% of City Pro Group Inc. for USD 2 million (approx. ₹16.6 crore). The acquisition, completed on September 18, 2026, aims to expand the company's US presence in pediatric developmental services. City Pro Group Inc. had a turnover of USD 1.14 crore in FY25.
The acquisition of a foreign subsidiary, while strategic, is of a moderate size relative to the overall company, thus having a medium impact.
The acquisition is a strategic move to expand the company's presence in a key market and sector, which is generally viewed positively.
Rays of Belief Limited, through its wholly owned subsidiary Mom’s Belief US Inc., has successfully acquired 100% of the equity shareholding of City Pro Group Inc. This acquisition was completed on September 18, 2026, making City Pro Group Inc. a step-down wholly owned subsidiary of Rays of Belief Limited.
The acquisition is strategically aimed at strengthening and expanding the Group’s presence in the United States within the pediatric developmental, early intervention, and special education services sector. City Pro Group Inc., based in New York, offers services through clinics in the Bronx, Brooklyn, Manhattan, and Long Island. It is an NYSDOH-approved Early Intervention Program (EIP) provider and a NYS Medicaid-enrolled provider.
The aggregate consideration for this acquisition was USD 2,000,000 (approximately ₹16.6 crore). City Pro Group Inc. was incorporated on July 14, 1995, and its turnover for the year ended June 30, 2025, was USD 1,14,32,394.52 (approximately ₹95.27 crore). This move is expected to complement the Group's existing service offerings and support its strategic expansion in the US market.
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Rays of Belief Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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