Hey stock market enthusiasts! If you’re tracking the latest NEPSE news and exciting Nepal IPO updates, you’ve probably heard about the buzz surrounding Reliance Spinning Mills IPO. This highly anticipated Nepal stock market public offering just hit a major roadblock. Let’s dive into the details in simple words.
The Supreme Court of Nepal has stepped in and ordered the retrieval of the Patan High Court verdict in a case linked to Reliance Spinning Mills Limited IPO. This decision came after a writ petition filed by investor Khagendra Raj Kandel against the Ministry of Finance, Securities Board of Nepal (SEBON), and other related bodies.
Earlier, some NEPSE investors went to the Patan High Court claiming there were irregularities in IPO process for Reliance Spinning Mills. The High Court sided with the company, allowing the IPO issuance to move forward. But unhappy investors weren’t done – they appealed to the Supreme Court for a deeper review.
Despite the ongoing legal drama, SEBON has been pushing ahead with the Reliance Spinning Mills IPO process. The company has already finished issuing and allotting shares to Nepali citizens working abroad (that’s the special quota for migrants). Now, the general public IPO was supposed to open on Poush 7.
What’s making this Nepal IPO extra special? The IPO price is set at a whopping NPR 820.80 per share – making it the most expensive IPO in Nepal history! Investors are watching closely as this could impact NEPSE index, share market Nepal trends, and overall stock investment Nepal opportunities.
Will this Supreme Court order delay the Reliance Spinning Mills public issue further? NEPSE traders and IPO applicants are on edge, waiting for the next update from SEBON regulations. If you’re planning to apply for this hot IPO in Nepal, keep an eye on official announcements.
Stay tuned to Nepal share market news for more on Reliance Spinning Mills share price, IPO allotment results, and how this affects your stock portfolio Nepal. Investing in NEPSE stocks can be thrilling, but always do your research!
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