Reliance Spinning Mills has issued primary shares through the book-building method. The company issued an IPO for institutional investors from Wednesday, Magh 10.
The company has received permission to release 19,26,600 shares at a face value of Rs 100, which is equivalent to Rs 1,926,60,000. In the first phase, the company has issued 7,06,400 shares, which is 40 percent, and the remaining 60 percent, i.e., 11,55,600 shares, will be issued to the general public later.
Qualified institutional investors can bid for the shares issued in the first phase at a minimum price of Rs 608 and a maximum price of Rs 912 until March 14 at the Nepal Stock Exchange.
Global IME Capital is the issuing and sales manager of the company. The company has been provided with an NP Single A minus issuer rating by Care Ratings Nepal for the share issuance through the book-building method, which indicates the company’s adequate capacity to meet its financial obligations.