Kathmandu. Reliance Spinning Mills (RSPINING) has received more applications than the demand for the initial public offering (IPO).

The company has received applications for a total of 5,398,100 units of shares till 5:00 pm today. The company was issuing 9,24,768 units of shares. A total of 1,917 people have applied for the IPO.

On the first day of the IPO issuance, applications worth Rs 4.43 billion were received.

Applications can be place for minimum 50 units and maximum 20,000 units at a price of Rs 820.80 per share. The last date to apply for the IPO is December 11.

Global IME Capital has been appointed as its issue manager.

The interested investors can apply for the shares from the Securities Board of Nepal (SEBON) through the banks and financial institutions that are members of the Securities Board of Nepal (SEBON).