Initial Public Offering (IPO) concept image, businessman selecting stock trading interface

IPO Alert: Reliance Spinning Mills Adopts Book Building Method for Sale Starting Magh 10

Kathmandu: Reliance Spinning Mills Limited is set to open IPO sales through the book-building method from the 10th of Magh. The company aims to release 19,26,600 shares, equivalent to 10.14% of the total issued capital, with a face value of NPR 100 per share. Of these, 40% (7,70,640 shares) will be available for institutional investors through the book-building process in the first phase. The price range for each share in the book building is set between NPR 608 to NPR 912.

Institutional investors are required to submit their bid within the specified price range. The company has informed that if the shares are not fully subscribed within this price range, the cut-off price will be determined, and all applicants will be allocated shares at the cut-off price or a higher price if needed. The final date for institutional investors to submit their bids is Magh 14.

Any shares remaining unsold after the institutional phase will be sold to the general public at a price reduced by 10% from the cut-off price. The company has appointed Global IME Capital as the sales manager for the IPO. Care Rating Nepal has provided a Care NP Single A rating to the company, indicating that it has the capacity to meet its financial obligations in a timely and secure manner.

By Ghising

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