December 8, Reliance Spinning Mills Limited has opened its IPO for Nepalese citizens working abroad starting today, Mangsir 22, 2082. The issue will remain open until Mangsir 25, and if not fully subscribed, it may extend until Poush 7.
This IPO is part of the company’s plan to sell 10.14% of its total capital worth Rs 1.90 Arba. Earlier, the company had issued 40% of these shares to Qualified Institutional Investors (QIIs) through the book-building method. Now, the remaining 60% (11,55,960 shares) will be offered to the public.
From this public portion:
10% (1,15,596 shares) is reserved for Nepalese working abroad — now open from today.
The remaining 10,40,364 shares will be issued to the general public later.
The IPO price for regular investors is Rs 820.80 per share, which is 10% lower than the cut-off price of Rs 912 determined during the QII allotment.
Global IME Capital is the issue manager. Investors can apply for a minimum of 50 shares and a maximum of 20,000 shares.
This is Nepal’s second IPO under the book-building method, after Sarbottam Cement.
Reliance Spinning Mills is Nepal’s largest spinning mill, employing over 4,300 people and exporting yarn mainly to India and Turkey. The company operates factories in Khanar and Duhabi, Sunsari.