Reliance Spinning Mills has begun issuing 115,596 shares under the 10% public quota reserved for Nepalis working abroad at a price of Rs. 820.80 per share.
Reliance Spinning Mills Ltd. has opened its ordinary share (IPO) issuance for Nepali citizens working abroad starting today. The company is offering 115,596 shares exclusively to migrant workers under the 10% public quota.
According to the Book Building Directive 2077, Clause 13(1), the cutoff price for institutional investors—who applied through the bidding system—was determined at Rs. 912 per share after allocating 770,640 shares. As per Clause 14 of the same directive, a 10% discount has been applied to the cutoff price, setting the share price for migrant workers at Rs. 820.80 per share.
Applicants abroad can apply for a minimum of 50 shares and up to 20,000 shares. To apply for the minimum quantity, an investor must arrange at least Rs. 41,040. The application window will remain open until Mangsir 25, and if not fully subscribed, the deadline may extend to Poush 7.
Interested investors can apply through all ASBA-member banks and financial institutions registered with the Securities Board of Nepal, their branch offices, and via the Mero Share online portal. Global IME Capital Ltd. is serving as the issue manager for this IPO.
The company is issuing 1,155,960 ordinary shares out of its total public offering of 1,926,600 shares, equivalent to 10.14% of its issued capital of Rs. 1 arba 90 crore. Of this total, 115,596 shares (10% of the ordinary shares) have been allocated to Nepali citizens working abroad and opened for subscription from today.
The IPO applications can be submitted after 10:00 AM today.
This article was originally published on https://bajarkochirfar.com.Translated with the help of AI and reviewed by our editorial team.
