Reliance Spinning Mills Limited: Last Day to Apply With Bid

Reliance Spinning Mills Limited has presented its prospectus for the purchase of shares today, marking the final day for the issuance. The company initiated the book-building process from Magh 10, offering shares with an indicative price of NPR 100 per share. The company has released 1,926,600 units of shares, representing 10.14% of its total issued capital, with a face value of Rs. 100 per share, for over 19.26 lakhs units of shares.

Qualified institutional investors have been invited to participate in the book-building process, and Global IME Capital Limited is overseeing the issuance and sale of shares. Interested investors are required to fill out and submit a confidential application form. The final cut-off price for the shares will be determined by the market based on the bids submitted by eligible institutional investors. If the determined price is lower than the cut-off price, the company will not allocate shares to such investors.

The credit rating agency, Care Rating Nepal, has assigned a “Care NP Single A-“ issuer rating to the company, indicating that Reliance Spinning Mills has sufficient capacity to meet its financial obligations in a timely and secure manner.