Reliance Spinning Mills IPO for General Public: Application Submitted to SEBON
Reliance Spinning Mills Limited has submitted an application to Securities Board of Nepal (SEBON) asking for permission to issue IPO Shares to general public on 23 Magh, 2080. . The manufacturing company has filled an application to issue IPO shares at Rs. 820.80 per share to general public and SEBON has added its application in its pipeline.
As soon as the application of Reliance Spinning Mills to issue IPO Shares is approved by SEBON, the company will issue 1,155,960 units shares at Rs 820.80 per share to general public. Applicants can apply for a minimum of 50 units shares. So the total amount required to apply for the IPO of Reliance Spinning Mills is equivalent to Rs. 41,040.
Reliance Spinning Mills had recently issued IPO shares to qualified institutional investors at cut-off price of Rs. 912 via book building method. It is the second company after Sarbottam Cement to issue public offering via book building method in Nepal. Global IME Capital has been appointed as the issue manager for its IPO. The company has two manufacturing units located at Sunsari district of Nepal and the total installed manufacturing capacity of the company is 40,680 MT per year as of mid-July 2021.
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