Kathmandu. Today is the last day to apply for the IPO of Reliance Spinning Mills Limited. The company had started issuing and selling the IPO to the Nepali nationals who are in foreign employment from 22.
The company is issuing 10% of the total offered shares i.e. 1,15,596 units of ordinary shares. The face value of the company is Rs 100 per share. However, the price per share of the company is Rs 820.80. The interested bidders can apply for the shares at a price of Rs 820.80 per share.
According to Section 9130 (1) of the Book Building Guidelines, 2077, the cut-off price was fixed at Rs 912 while allotting 7,70,640 units of shares to the eligible institutional investors who applied through the bidding system. The price of the share has been reduced by 10 percent to Rs 820.80.
Applications can be place for minimum 50 units and maximum 20,000 units.
Global IME Capital Limited has been appointed as the issue manager for the IPO issuance.
Care Ratings Nepal has assigned Care NP Single A Minus Issue Rating to the company. This means that it is a company with sufficient capacity to bear its financial obligations safely in a timely manner.
The interested bidders can bid for the shares online from all ASBA member banks and financial institutions and their designated branches and CDS & Clearing’s online apply.
