Reliance Spinning Mills Limited is going to start the IPO issue from Ashadh 27. The company is going to issue the IPO for Nepalese nationals who are employed abroad after obtaining labor approval from the relevant agencies of the Nepalese government.
The company is going to issue 10 percent of the allotted ordinary shares i.e. 1 lakh 15 thousand 596 shares for public issue. The face value per share of the company is Rs. 100. However, the price per share of the company is Rs. 820.80. That means the investor will have to apply at the rate of Rs. 820.80 per share.
To apply for the Reliance Spinning Mills IPO, investors will have to invest a minimum of Rs 41,040.
As per sub-section (1) of section (13) of the Book Building Directory, 2077, the cut-off price while allotting 7 lakh 70 thousand 640 shares to eligible institutional investors applying through the BOLKBOL system was fixed at Rs 912.
Reliance Spinning Mills IPO
| No. of Issued Shares | 115,596.00 |
| Base Rate | 820.80 |
| Date of Application | Opening from ashadh 27 |
| IPO Result Date | – |
| Sector | Manufacturing |
| Issue Manager | Global IME Capital Ltd. |
| Available For | Foreign Employment |
| Company Headquarters | Itahari Municipality, Ward No. 12, Khanar |
| Minimum Quantity | 50.00 |
Investors have to apply for a minimum of 50 shares and can apply for a maximum of 20,000 shares. Investors will be able to apply for the company’s shares until July 10.
Global IME Capital Limited is the issuing and selling manager of the company. Investors can apply through the C-ASBA system using the software ‘My Share’ operated by CDSC and all ASBA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices.
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In the rating given for the share issue, CARE Ratings Nepal has given the Reliance Spinning Mills IPO CARE NP Single A Minus Issuer Rating. This means that the company has sufficient capacity to safely meet its financial obligations on time.
The main industry of the company is Itahari Municipality Ward No. 12 is located in Sunsari district of Khanar, while the branch is in Udyog Itahari Municipality Ward no. 4 Duhabi is situated in Sunsari district. Reliance Spinning Mills is one of the largest yarn-producing industries in Nepal.
