Reliance Spinning Mills Pvt. Ltd. has proposed to issue their IPO via book building method. The company has proposed to issue 14,60,000 units of shares in IPO using this method.
Well, Reliance Spinning Mills has already appointed their issue manager to Global IME Capital.
As talking about book building, it’s a process by which an underwriter tries to assign the price of each unit of share at IPO. Underwriter are normally an investment bank who builds a book by inviting institutional investors to submit bids for the number of shares and price they are willing to invest. Normally 40% of the shares will be those institutional investors where as the rest will be issued for the general public through releasing IPO.
While talking about the company, Reliance Spinning Mills Pvt. Ltd is one of the biggest company of it’s kind in Nepal. With over four thousands active employees the company had started it’s business since 2051 B.S.
The company normally manufactures Viscous, Polyester and Acrylic yarn with international standerd. These are exported worldwide with a high percentage to India and Turkey.