Reliance Spinning Mills Pvt. Ltd. has proposed to issue an IPO for 14,60,000 shares via the book building method. The company has appointed Global IME Capital as its issue manager.
Book building is the process by which an underwriter attempts to determine the price at which an initial public offering (IPO) will be offered. An underwriter, normally an investment bank, builds a book by inviting institutional investors (such as fund managers and others) to submit bids for the number of shares and the price(s) they would be willing to pay for them. While 40% of the shares will be sold to institutional investors, 60% will be issued for the general public.
Reliance Spinning Mills Pvt. Ltd. was registered in the company registrar in the year 2051 B.S. With 4,300+ employees, Reliance Spinning Mills is the biggest of its kind in the country. The company manufactures Polyester, Viscous, Acrylic yarn of international standard that is then exported worldwide, primarily to India and Turkey.