Securities Board of Nepal Suspends Public Issue of Reliance Spinning Mills Limited Securities

The Securities Board of Nepal has issued a directive suspending the public issue process of securities by Reliance Spinning Mills Limited, effective Ashadh 27, 2081. This decision, detailed in a letter dated 2081/03/26, halts the issuance managed by Global IME Capital Limited and the subsequent sale until further notice.

Reliance Spinning Mills Limited, with an issued capital of Rs. 1,90,00,00,000 (One Arba Ninety crores only), had planned to issue 10.14% of its capital, amounting to 19,26,600 shares. Of these, 40%, or 7,70,640 shares, had already been issued and allotted to Qualified Institutional Investors (QIIs). The remaining 60%, or 11,55,960 shares, were designated for the general public. Within this, 10%, or 1,15,596 shares, were specifically designated for Nepali citizens working abroad, with the remaining 10,40,364 shares intended for the general public.

The suspension affects the participation of Nepali citizens working abroad in the issuance and sale process, pending further decisions by the board. This development has been communicated to the awareness of all concerned parties.

Notice: