Kathmandu, Dec 22: Reliance Spinning Mills Limited has officially opened its Initial Public Offering (IPO) for the general public starting today.
The company is issuing 924,768 unit shares at a par value of Rs. 100 per unit. But investors have to apply at least 50 units and maximum of 20,000 units with the rate of 820.80 per share.
The early closing date for the IPO is 11th Poush, 2082, but if the issue is not fully subscribed by then, the deadline will be extended to the 21st Poush, 2082.
Earlier, 115,596 units had already been issued and allotted to Nepalese citizens working abroad. Thus, the remaining 1,040,364 units are for the general public. Out of the total 1,040,364 units, 57,798 units are allotted for mutual funds, while 57,798 units have been set aside for the company’s employees. The remaining 924,768 units are for the general public.
Global IME Capital has been appointed as the issue manager. Applications can be placed for a minimum of 50 units, with a maximum quantity of 20,000.
The share price of the company is Rs. 820.80 per share for common investors. The company is issuing an IPO through the book-building method. #nepal #share
