Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The application period for the initial public offering (IPO) of Reliance Spinning Mills Limited has officially closed, drawing overwhelming interest from investors with subscriptions exceeding the offer size by more than 33 times.
The IPO application window remained open until 5:00 pm on Poush 11, according to the issue schedule. Data released by the CDS and Clearing Limited (CDSC) shows that by the closing time on Friday, a total of 583,896 applicants had submitted applications for the IPO.
Against the company’s public issuance of 924,768 shares, investors applied for approximately 30.55 million shares, resulting in an oversubscription of 33.03 times. In monetary terms, applications worth Rs 25.03 billion were submitted.
Reliance Spinning Mills had opened the IPO for the general public on Poush 7, offering ordinary shares after reserving 57,798 shares for company employees. The remaining 924,768 shares were allocated for public investors.
The IPO has been issued at a price of Rs 820.80 per share, meaning applicants were required to apply at the same rate per unit.
The strong demand reflects sustained investor appetite for fundamentally strong manufacturing-sector companies, despite ongoing volatility and tighter liquidity conditions in the capital market.
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