Reliance Spinning Mills IPO Allotment Set for Friday

The IPO allotment of Reliance Spinning Mills is nearing completion, with final preparations underway. The issue manager, Global IME Capital, is moving ahead with plans to conduct the allotment this Friday. The company had opened its IPO to the general public from December 22 to December 26 (Poush 7–11).

The issue received overwhelming investor response. Priced at NPR 820.80 per share, the IPO attracted applications from 583,975 investors, generating demand for 30.51 million shares, which is nearly 33 times higher than the offered quantity. The company was approved to issue 1.926 million shares, representing 10.14% of its paid-up capital of NPR 1.90 billion.

Earlier, the company had already allotted 40% of the shares to Qualified Institutional Investors (QIBs) in Magh 2080, while 10% of the public portion was distributed to Nepali citizens working abroad. Following the final allotment, 18,495 applicants will receive 50 shares each, and 36 applicants will be allotted 51 shares, making the upcoming allotment a closely watched event in the market.