Reliance Spinning Mills Launching IPO through Book Building for Qualified Institutional Investors from Today

Reliance Spinning Mills is launching its Initial Public Offering (IPO) using the book-building process exclusively for Qualified Institutional Investors (QIIs) from 10th Magh (Today) to 14th Magh, 2080. The company plans to issue 7,70,640 shares in this phase, constituting 10.14% of its total capital.
The preliminary bid from QIB sets a minimum price of Rs 608 per share, resulting in a base price of Rs 760 per share. The company can issue shares up to Rs 912 per share (20% higher than the base price). The general public will receive a 10% discount based on the minimum cut-off rate by QIB.
In case investors bid above the base price but don't get shares, a three-day window is provided for refunds with interest or necessary account adjustments. Global IME Capital is the appointed issue manager.
Reliance Spinning Mills, registered in 2051 B.S., is the largest spinning mill in Nepal. The issued capital of the company is 1.90 Arba. The has two units in Sunsari, Nepal, with a total capacity of over 40 thousand MT per year.