Reliance Spinning Mills gets final approval from SEBON to issue IPO through "Book Building" process

Reliance Spinning Mills has received permission from the Securities Board of Nepal (SEBON) to issue an IPO at a premium price. The company is planning to release the IPO through a book building process. In the initial phase, the company aims to sell 40% of shares to eligible institutional investors. The company will offer 770,640 shares, priced between NPR 608 to NPR 912 per share to these investors. After setting a cut-off price at 10% lower than the offered price to institutional investors, the IPO will be available to the general public.

On Poush 19th, the company had submitted an application to the Securities Board for the IPO. The management of the IPO sale is handled by Global IME Capital. Previously, Sarbottam Cement had conducted the first IPO in Nepal through a book-building process.

Reliance Spinning Mills Ltd., established in 1994 AD, stands as Nepal's biggest spinning mill, operating as a public limited company. It boasts two facilities: Unit A situated in Khanar, Sunsari, and Unit B in Duhabi, Sunsari, Nepal. This high-tech spinning plant incorporates cutting-edge machinery sourced from globally recognized textile machinery manufacturers like Laxmi, Savio, and SchlafhorstSaurer.

Recognized for its professional management and advanced technology, Reliance Spinning is primarily involved in producing high-quality Polyester, Viscose, Acrylic, and various blends of yarn in grey, dyed, melange, and sewing thread varieties on an international scale.

With a workforce surpassing 3000 individuals, Reliance Spinning holds the title of being the largest employer in Nepal.