Reliance Spinning Mills Limited has opened the sale of its Initial Public Offering (IPO) to the general public starting today. The company has issued a total of 924,768 ordinary shares for public investors.
Out of the total 1,155,860 shares to be issued, the company has already allocated and distributed 5 percent (57,788 shares) for mutual funds, 10 percent (115,546 shares) for Nepali citizens working abroad, and 5 percent (57,788 shares) for company employees. The remaining shares have now been opened for the general public.
Investors can apply through ASBA member banks and financial institutions approved by the Securities Board of Nepal, their branch offices, or via the “Mero Share” system. Applications can be submitted for a minimum of 50 shares and a maximum of 20,000 shares.
The IPO application period will close as early as Poush 11 and, at the latest, on Poush 21. Global IME Capital Limited is serving as the issue and sales manager for the IPO.
Earlier, the company had issued shares under the first phase starting from Mangsir 22 for residents of industry-affected areas and Nepali citizens working abroad.
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