Reliance Spinning Mills Limited Sets Cut-Off Price

Reliance Spinning Mills Limited has announced the opening of its initial public offering (IPO) from Magh 10. The company set the cutoff price for the shares at Rs. 912 per share.

According to the Nepal Stock Exchange, the company received applications for over 7,70,640 shares against the 11 Lakhs shares initially offered. The stock exchange reported that the preliminary results indicate applications being accepted at the initial price of Rs. 912. The IPO comprised 1,000,000 shares for public subscription at Rs. 912 per share, representing a 10.14% stake in the company.