Reliance IPO receives nearly 5.4 million shares on first day [Update]

The application period for the largest portion of the IPO (to the general public) issued by the company has been set from December 7 to 11.

Poush 7, 2082

Kantipur Reporter

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The public has applied for about 5.4 million shares in the initial public offering (IPO) issued by Reliance Spinning Mills on Monday alone. The company has opened the issue of 924,768 shares to the public since Monday.

CDSC data shows that on the first day (Monday), 19,917 applicants applied for 5,398,100 shares. 'Applicants have collected Rs 4,437,604,800,' CDSC said.

Earlier, Global IME Capital Limited, the company's issuance and sales manager, had stated that 17 times more applications were received for foreign employment and mutual funds.

The company has issued 1,926,600 shares worth Rs 192,660,000, which is 10.14 percent of the issued capital of Rs 1.9 billion.

In the first phase, 40 percent, i.e. 770,640 shares, have been distributed to eligible institutional investors through the book building method. Out of 60 percent, or 1,155,960 units, to be issued to the general public, the remaining 924,768 units, excluding Nepali citizens employed abroad, collective investment funds, and employees, have been opened to the general public.

The application period for the largest portion of the IPO issued by the company (to the general public) has been set from Poush 7 to 11, according to Global IME Capital Limited, the company's issuance and sales manager.

Reliance IPO receives nearly 5.4 million shares on first day [Update]

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