Reliance Spinning Mills Limited has completed the allotment of its Initial Public Offering (IPO) that was opened to the general public from December 22 to December 26. The company had issued a total of 924,768 shares at a price of Rs 820.80 per share, requiring an investment of Rs 41,040 for the minimum application of 50 shares.
During the subscription period, a total of 532,888 applications were received. Out of these, 13,842 applications were rejected, while 519,046 applications were approved.
Among the approved applicants, 18,495 investors were allotted IPO shares at the rate of 50 shares each. Of them, 18 investors received one additional share, bringing their total allotment to 51 shares. All remaining applicants did not receive any shares.
The online publication of the IPO allotment results will take some time.
How to Check Reliance Spinning Mills IPO Result
Investors can check their IPO result using any of the following methods:
1. IPO Result Website (CDSC)
- Visit https://iporesult.cdsc.com.np/
- Enter your BOID number
- Click on View Result
2. Through Meroshare
- Log in to https://meroshare.cdsc.com.np
- Go to My ASBA
- Click on Application Report
- Select Reliance Spinning Mills Limited
3. Issue Manager’s Website
- Visit the official website of Global IME Capital
- Go to the IPO Result section
- Search for Reliance Spinning Mills Limited
IPO Overview
Reliance Spinning Mills is offering 10.14% of its total paid-up capital to the public. Previously, 40% of the shares were allocated to Qualified Institutional Investors (QIIs) through the book-building process. The remaining 60% (1,155,960 shares) has been reserved for public issuance.
From this public portion:
- 10% (115,596 shares) were allocated to Nepalese working abroad
- The remaining 1,040,364 shares will be offered to the general public in the next phase
The IPO price was fixed at Rs 820.80 per share, which is 10% lower than the QII cut-off price of Rs 912. Applicants could apply for a minimum of 50 shares and a maximum of 20,000 shares.
Reliance Spinning Mills is Nepal’s largest spinning mill, with over 4,300 employees, operating plants in Khanar and Duhabi, Sunsari, and exporting yarn mainly to India and Turkey.