Kathmandu. Today is the last day to apply for the IPO of Reliance Spinning Mills. The company had opened the IPO from December 7. The company has issued the IPO to the general public after the IPO issuance for the Nepali nationals who are in foreign employment.
The company has reserved 57,798 units of ordinary shares for the employees of the company and the remaining 9,24,768 units have been allotted. 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.
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.
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.
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.
