Reliance Spinning Mills is issuing 115,596 shares under the 10% public quota for Nepalis working abroad, with the IPO opening on Mangsir 22 at a price of Rs. 820.80 per share.
Reliance Spinning Mills Ltd. is set to open its IPO for Nepali citizens working abroad from Mangsir 22, issuing a total of 115,596 ordinary shares under the 10% public quota. These shares are part of the company’s public issuance allocation specifically reserved for migrant workers.
As per the book-building procedure, the share price has been set at Rs. 820.80 per share. Earlier, during allotment to institutional investors, the cutoff price was determined at Rs. 912. After applying the required 10% discount for migrant workers, the final price now stands at Rs. 820.80.
Investors can apply for a minimum of 50 shares and up to a maximum of 20,000 shares. The IPO will close as early as Mangsir 25, but if the issue is not fully subscribed, the deadline may be extended until Poush 7. Global IME Capital Ltd. is the issue manager for the offering. Applications can be submitted through ASBA-member banks and financial institutions, their branches, and via the “Mero Share” platform using the C-ASBA system.
CARE Rating Nepal has assigned the company a CARE NP Single A– (Issuer Rating), indicating adequate capacity to meet its financial obligations. The IPO process, which had been halted earlier due to a court case, has now resumed following an interim order from the court. The company has also published its updated financial statements along with the official prospectus.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
