Reliance Spinning Mills’ share listing in limbo: Investors hit hard
Summary
Reliance Spinning Mills' IPO shares remain unlisted on NEPSE for over a month, locking in Rs 1.74 billion from investors and raising concern amid strong investor interest.
Key Points
- Reliance Spinning Mills' IPO shares have not been listed on the Nepal Stock Exchange for over a month after allotment, causing investor losses.
- The company raised over Rs 1.74 billion through its IPO, which was oversubscribed by over 30 times, showing strong investor demand.
- The IPO was offered via the book building method with prices fixed by qualified institutional investors and a discounted offer to the public.
- The delay is attributed to coordination issues between the Securities Board of Nepal and the Nepal Electricity Authority, affecting investor confidence.
