Reliance Spinning Mills Limited has opened applications for its Initial Public Offering (IPO) from Mangsir 22. The company has received labor approval from the Government of Nepal to issue the IPO exclusively for Nepali citizens working abroad.

The company is offering 10% of the total IPO reserved for the public, amounting to 115,596 shares. While the face value of each share is Rs 100, applicants must apply at the price of Rs 820.80 per share, determined through the book-building method.

Earlier, during the bidding process among eligible institutional investors, the cut-off price was fixed at Rs 912. After providing a 10% discount as per the rule for migrant workers, the final price for this issuance has been set at Rs 820.80.

Investors can apply for a minimum of 50 shares and a maximum of 20,000 shares. The issue will close early on Mangsir 25 if fully subscribed; otherwise, the deadline will be extended until Poush 7.

Global IME Capital Limited is the issue manager for this IPO. Interested applicants can apply through any ASBA member bank, financial institution, their designated branch offices, or via the “Mero Share” online platform operated by CDS & Clearing Limited.

In the credit rating assessment for the offering, CARE Ratings Nepal assigned the company a CARE NP Single A– (Issuer Rating), indicating that the company has adequate capacity to meet its financial obligations in a timely manner.

Reliance Spinning Mills is one of Nepal’s largest employers in the yarn manufacturing industry. The company exports 70–75% of its yarn production to countries such as India, Turkey, Vietnam, and the United Kingdom. The company’s chairman is Pawan Kumar Golyan, and the managing director is Akshay Golyan.

The company’s main production unit is located at Itahari Municipality Ward 12, Khanar, Sunsari, while its branch unit is situated at Itahari Municipality Ward 4, Duhabi, Sunsari. The estimated payback period of the project is 6.75 years at normal returns, and 10.61 years at discounted returns.