Reliance Spinning Mills Limited will open its IPO for the general public from Poush 7, offering 9,24,768 ordinary shares after issuing shares to Nepalis working abroad.
Reliance Spinning Mills Limited has announced the opening of its Initial Public Offering (IPO) for the general public starting Poush 7. This marks the second phase of the IPO, following the issuance to Nepalis working abroad. Out of the total shares to be issued, 57,798 shares have been reserved for company employees, while the remaining 9,24,768 ordinary shares will be available for public subscription. The IPO will be issued through the book-building method at a price of NPR 820.80 per share.
Investors can apply for a minimum of 50 shares and a maximum of 20,000 shares. Even for the minimum application of 50 shares, the total investment required will be NPR 41,040. Applications can be submitted through ASBA-participating banks and financial institutions approved by the Nepal Securities Board (SEBON) or via CDSC’s ‘Mero Share’ online system. The IPO sale will close at the earliest on Poush 11 and latest on Poush 21 after banking hours. Global IME Capital Limited is managing the IPO issuance and sales.
As part of the IPO rating process, Care Ratings Nepal has assigned Reliance Spinning Mills a CARE-NP A– issuer rating, indicating that the company has sufficient capacity to meet its financial obligations on time and safely.
Reliance Spinning Mills is among the largest employment-generating thread manufacturing industries in Nepal, exporting over 70–75 percent of its production to countries such as India, Turkey, Vietnam, and the UK. Pawan Kumar Golyan serves as the company’s chairman, while Akshay Golyan is the managing director. The main industrial unit is located at Ward No. 12, Kharna, Itahari Sub-Metropolitan City, Sunsari, with a branch unit at Ward No. 4, Duhabi, Itahari Sub-Metropolitan City, Sunsari. The IPO application process opens after 10:00 AM.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
