Reliance Spinning Mills Limited Closing 1,15,596 Units IPO Shares to Foreign Nepalese Immigrants From Today
Summary
Reliance Spinning Mills Limited is closing its IPO for foreign Nepalese immigrants today, issuing 1,15,596 shares at Rs 820.80 per share amid strong oversubscription.
Key Points
- Reliance Spinning Mills Limited is closing its IPO share issue for foreign Nepalese immigrants today, totaling 1,15,596 units.
- The company is issuing 19,26,600 shares representing 10.14% of its issued capital, with 40% already allotted to Qualified Institutional Investors.
- The IPO has been oversubscribed 16.89 times with 34,287 applicants applying for 19,52,470 units.
- Reliance Spinning Mills is Nepal's largest yarn manufacturer with two factories in Sunsari and exports mainly to India and Turkey.
