Reliance Spinning Mills has received more than 17 times the applications allocated for Nepalis working abroad. According to the issue manager, the pre-allotment is expected to conclude by mid-next week, and the IPO result may be published by the end of next week or the beginning of the following week.
The company had opened the IPO for Nepalis in foreign employment under the book-building method. Global IME Capital, the issue manager, reported that by the final day, 36,082 applicants requested a total of 20,01,470 units, the highest-ever demand from the foreign employment category. The applications represent more than Rs. 1 arba 64 crore in deposited funds.
Reliance Spinning had earlier allotted shares to Qualified Institutional Investors at Rs. 912 per share. For the general public, the company set the price at 10% lower, at Rs. 820.80 per share. Out of the public quota of 11,55,960 units, a total of 1,15,596 units (10%) were reserved for Nepalis working abroad.
Due to oversubscription on the first day, the issue remained open only until Mangsir 25.
Foreign Employment Category Summary
- Total applicants: 36,082
- Total shares demanded: 20,01,470 units
- Shares allocated for this group: 1,15,596 units
- Total amount collected: Rs. 1 arba 64 crore 28 lakh
Why the IPO Was Delayed
The IPO process was halted for 17 months due to directives from the Public Accounts Committee. The company has now received approval to issue 19,26,600 units, equal to 10.14% of its paid-up capital of Rs. 1 arba 90 crore — with 40% allocated to institutional investors and 60% to the general public.
IPO Result Date & How to Check
Expected Result Date
- Pre-allotment: Mid-next week
- Result publication: End of next week or start of the following week, as per Global IME Capital Source
How to Check the Result
Once published, applicants can check the IPO result through:
1. IPO Result Website
Visit https://iporesult.cdsc.com.np/
Enter your BOID number
Click View Result
2. Meroshare
Login to meroshare.cdsc.com.np
Go to My ASBA → Application Report
Click on Solu Hydropower Limited