IPO Shares of Reliance Spinning Mills Now Listed on NEPSE; What are the Opening Ranges?

1,90,00,000 units IPO shares of Reliance Spinning Mills Limited (RSML) have been listed in NEPSE. This includes the shares held by promoters and the quantity issued to the general public.

The opening range for the first transaction is Rs. 100 to Rs.300. If the company signs an agreement with NEPSE, the IPO shares will be traded in the secondary market from Falgun 04, 2082.

Out of a total of 1,90,00,000 unit shares, 9,24,768 units of IPO shares with a par value of Rs 100 were issued to the general public from 7th Poush, 2082 to 11th Poush, 2082.

Along with the listing, NEPSE has revised the rule regarding the opening price range during the first trading day. Previously, the opening price range was determined at up to three times the company’s net worth. But now, NEPSE has revised this provision, setting the opening range at up to three times the face value instead.

• If the net worth is positive, the opening range will be up to three times the face value.

• If the net worth is negative, the opening range will be up to three times the net worth.

 Note that the listed shares will be traded under the symbol 'RSML'. 

The RSML's share listing got a delay of over one month since the IPO allotment due to some issues.  According to current practices under the Securities Listing Bylaws, 2075, newly public companies are required to list their shares on NEPSE within a few weeks of IPO allotment.