Kathmandu – Reliance Spinning Mills has opened applications for its Initial Public Offering (IPO) targeted at Nepali citizens working abroad, starting from December 22.
The company is issuing 115,596 units of shares, representing 10 percent of the ordinary shares allocated for public issuance. While the face value of the shares is Rs 100, the offering price has been set at Rs 820.80 per share, based on the cut-off determined during the book-building process.
Last year, the company issued 770,640 units to eligible institutional investors under the book-building method. The price range offered to institutional investors was Rs 608 to Rs 912 per share, with the cut-off fixed at the upper range. After applying the mandated 10 percent discount for general investors, the final price was determined at Rs 820.80 per share.
For the current offering, applicants must apply for a minimum of 50 units and can apply for up to 20,000 units. The IPO will close on December 9 at the earliest, and no later than the banking hours of December 22.
Interested investors can submit applications through all ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON), along with their designated branches and CDSC-authorized platforms.
Global IME Capital Limited is serving as the issue manager for the IPO.
