Kathmandu. The initial public offering (IPO) of Reliance Spinning Mills has been allotted. The company has issued an IPO to Nepalese who are working abroad.
The company had issued 1,15,596 units of shares at a price of Rs 820.80 per share. A total of 35,102 applicants had applied for 19,44,330 units of shares in the issue. All these applications have been approved.
The IPO of the company has been allotted through a lottery process as the number of applications exceeded the demand. A total of 2,311 applicants have been allotted 50 units of shares.
The remaining 46 units of shares have been allotted to the same investors at the rate of one share. Accordingly, out of 2,311 applicants, 46 have been allotted 51 units of shares each.
