Kathmandu. Reliance Spinning Mills is going to open its initial public offering (IPO) to the general public from December 23. The company is going to issue the initial public offering (IPO) to the general public in the second phase.

The company will issue 57,798 units of ordinary shares to its employees and the remaining 9,24,768 units will be issued to the general public. The general public will have to pay Rs 820.80 per share.

Applications can be place for minimum 50 units and maximum 2000 units. The IPO will be issued on December 26 and the next day after the banking hours.

Care Ratings Nepal has assigned Care NP Single A Minus Issue Rating to the company. This means that it is a company with sufficient capacity to bear its financial obligations safely in a timely manner.

Global IME Capital has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares online from all ASBA member banks and financial institutions and their designated branches and CDS & Clearing’s online apply.