In the exploration of the photo-gravitational restricted eight-body problem, this manuscript has meticulously studied the existence and stability of in-plane equilibrium points. A total of 18 such points have been identified, with specific locations on the x-axis, y-axis, and the orbital plane of the primaries. A noteworthy observation is the distribution of six equilibrium points on each of the three concentric circles, C1, C2, and C3. The interplay between the mass parameter β, and the radiation factor q, plays a pivotal role in determining these equilibrium positions. Specifically, while C1 equilibrium points can exist for any real value of q, those on C2 and C3 require q to be a positive real number. Some equilibria on C1 and C2 are also found to be independent of β. An interesting phenomenon of overlapping between C2 and the orbit of peripheral primaries C, has been addressed. As for stability, only the equilibria on C2 proved to be stable under a specific mass parameter, with all others demonstrating instability. This research provides profound insights into the intricate dynamics and stability of equilibrium points in this multifaceted problem.