Reliance Spinning Mills is preparing to open its Initial Public Offering from December 7. The company is offering shares mainly for Nepali workers who are currently abroad.
Who can apply
Out of the total 1,155,960 shares, the company has set aside 10 percent, or 115,596 shares, for Nepalis working in foreign countries. These applicants can apply for a minimum of 50 shares and up to 20,000 shares.
Application timeline
The IPO will close early on December 10 if all applications are received on time. If not, the deadline will extend until December 22.
Investors can apply through any ASBA-approved bank or financial institution. Applications can also be submitted online through Mero Share. Global IME Capital is handling the IPO issuance and sale process.
