RSML Lock-in Shares to Become Tradable from Bhadra 1

Reliance Spinning Mills Limited (RSML) has announced that the six-month lock-in period on shares allotted to Qualified Institutional Investors (QIIs) will expire on Bhadra 1, 2083. In accordance with the Securities Board of Nepal's (SEBON) guidelines, the company had allocated 1,926,600 ordinary shares to eligible institutional investors during its initial public offering. Of these, 40 percent, equivalent to 770,640 shares, were placed under a mandatory six-month lock-in period starting from the company's listing date on Falgun 1, 2082. With the lock-in period coming to an end, these shares will become freely tradable on the Nepal Stock Exchange (NEPSE) from Bhadra 1, 2083. RSML currently has 19 million listed ordinary shares on NEPSE, and its stock last closed at Rs 3,029 per share.