Reliance Spinning Mills IPO Allotment Completed for Migrant Nepalis

Kathmandu — Reliance Spinning Mills Limited has completed the allotment of its Initial Public Offering (IPO) issued for Nepalis working abroad.

The company had issued 115,596 shares at a price of Rs 820.80 per share between December 8 and December 11 (Mangsir 22–25). During the subscription period, a total of 35,102 applicants applied for 1,944,330 shares. All applications were approved, the company said.

As the issue was oversubscribed, the IPO was allotted through a lottery process. Under the allotment, 2,311 applicants were allotted 50 shares each.

Following the primary allotment, the remaining 46 shares were distributed by allocating one additional share to 46 of the selected applicants. As a result, 46 investors received 51 shares each, while the remaining successful applicants received 50 shares.

With the allotment process now complete, investors are awaiting the listing of Reliance Spinning Mills’ shares on the Nepal Stock Exchange for secondary market trading.