SEBON Adds IPO Shares of Reliance Spinning Mills And Swastik Laghubitta Sanstha In Its Pipeline

The Initial Public Offering (IPO) of Reliance Spinning Mills Ltd. has been added to SEBON’s IPO pipeline for approval.

The company is seeking to issue 1,155,960 unit shares to the general public. The IPO issue will raise a total of Rs. 94.88 crore. The shares for the general public will be available at Rs. 820.80. The company will be issuing an IPO through the book-building method.

Global IME Capital Ltd has been appointed as the issue manager for the IPO issuance. The application was sent to SEBON on Magh 23, 2080.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP A- (Is)’ assigned to Reliance Spinning Mills Limited (RSML). Issuers with this rating are considered to offer an adequate degree of safety regarding the timely servicing of financial obligations in Nepal. Such issuers carry low credit risk.

Read More: Reliance Spinning Mills Book Building Process: Tentative Cut-off Price of QII Stands Rs 912 Per Share, General Public IPO Price At Rs. 820.80

Similarly, the IPO proposal of Swastik Laghubitta Bittiya Sanstha Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 80,000 shares. This will raise Rs. 80 Lakhs for the company. The application was submitted on Magh 24, 2080.

Nabil Investment Banking Limited has been appointed the issue manager for the public offering.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] B+ to Swastik Laghubitta Bittiya Sanstha Limited (SLBSL or the company) and placed the rating on Watch with Negative Implications. Issuers with this rating are at a high risk of default regarding the timely servicing of financial obligations.

Swastik Laghubitta Bittiya Sanstha Limited (SLBSL), established in October 2018, commenced its commercial operations as a province-level (Madhesh province) class-D microfinance institution in March 2019. The institution is promoted by 25 individual shareholders and has its registered and corporate office in Lahan, Siraha, Nepal.