Reliance Spinning Mills Announces IPO Date for Foreign Nepalese Immigrants

Reliance Spinning Mills Announces IPO Date

Reliance Spinning Mills had decided to issue 10.14% of its stock, equivalent to 1.90 Arba rupees, or 19,26,600 shares. Out of 19,26,600 shares, 40% (7,70,640 shares) have already been issued to Qualified Institutional Investors (QIIs) through the book-building process from Magh 10 to Magh 14, 2080, with allotment taking place on Magh 15.

The remaining 60%, i.e., 11,55,960 shares, will be distributed to the general public in two phases:

IPO Date For Nepalese Citizens Working Abroad

Reliance Spinning Mills Announces IPO Date for Nepalese citizens working abroad, the IPO will begin from Ashadh 27 to Shrawan 10, 2081. Ten percent of the 11,55,960 shares are reserved for Foreign Nepalese Immigrants, i.e., 1,15,596 shares. The early closing date of this initial public offering (IPO) for foreign Nepalese immigrants will not be extended.

IPO Date For General Public In Nepal

The IPO date for the general public will be announced soon. The remaining 10,40,364 shares will be distributed to the general public in Nepal, after completing the IPO distribution for Nepalese citizens working abroad.

The IPO is managed by Global IME Capital, with a minimum application requirement of 50 units and a maximum of 20,000 units. 

Details Information
IPO Dates for Foreign Nepalese Immigrants Ashadh 27 – Shrawan 10, 2081
Share Price Rs. 820.80 per share
Shares for Nepalese Abroad 1,15,596
Shares for the General Public in Nepal 10,40,364
Total Shares for General Public 11,55,960
Issue Manager Global IME Capital
Shares for QIIs 7,70,640
Total Shares Issued 19,26,600

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