Reliance Spinning Mills has announced an Initial Public Offering (IPO) for Foreign Nepalese Immigrants. The IPO will be available from 27th Ashadh to 10th Shrawan, 2081. The closing date will not be extended for Foreign Nepalese Immigrants.
Previously, the company issued its primary shares to Qualified Institutional Investors (QII) from 10th Magh to 14th Magh, 2080, through the book-building process. The allotment occurred on 15th Magh.
Reliance Spinning Mills plans to issue 10.14% of its total issued capital of Rs 1.90 Arba, equivalent to 19,26,600 shares. Of these, 40% (7,70,640 shares) have already been issued and allotted to QIIs, while the remaining 60% (11,55,960 shares) are earmarked for the general public.
Out of the 11,55,960 shares for the general public, 10% (1,15,596 shares) will be allocated to Nepalese citizens working abroad, with the remaining 10,40,364 shares available to the general public.
Global IME Capital is the appointed issue manager, with applications accepted for a minimum of 50 units and a maximum of 20,000 units per applicant.
The IPO is priced at Rs. 820.80 per share and will be conducted using the book-building method.