Reliance Spinning Mills Limited to Open IPO Issuance from Asar 27

After receiving approval from the Nepal Securities Board, Reliance Spinning Mills Limited is set to open its IPO issuance and sale. Here are the key points:

1. IPO Issuance Preparation:

- IPO issuance for Nepalese citizens working abroad will start from Asar 27.

- The company has received approval to issue 1,155,960 shares through the book-building process.

2. First Phase of Issuance:

- In the first phase, 10% or 115,596 shares will be issued for Nepalese citizens working abroad.

3. Company Approval and Cut-Off Price:

- Based on bids from institutional investors, the cut-off price is set at NPR 912 per share.

- For the general public, the IPO will be issued at a 10% discount to the cut-off price, i.e., NPR 820.80 per share.

4. Application Limits:

- Minimum: 50 shares.

- Maximum: 20,000 shares.

5. Application Deadline:

- Applications can be submitted until Shrawan 10.

6. Sales Manager:

- Global IME Capital Limited.

7. Application Locations:

- All ASBA member banks and financial institutions and their designated branches approved by the Nepal Securities Board.

- Applications can also be submitted online using the 'Mero Share' software from CDS and Clearing.

8. Rating:

- CARE Ratings Nepal has assigned the company a CARE NP Single A Minus Issuer Rating.

Investors can take advantage of this opportunity by applying for the IPO of Reliance Spinning Mills.