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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
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KATHMANDU: Reliance Spinning Mills Limited has halted its Initial Public Offering (IPO), which was set to be issued today, July 11. The Securities Board of Nepal (SEBON) on Wednesday sent a letter to the company, instructing it to halt the process of issuing IPOs until it provides a clear response to the Public Accounts Committee of the House of Representatives. Following the board's directive, the company announced through a notice that the IPO issuance process has been suspended until further notice.
The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.
The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.
After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted.
Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements.
Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public.
As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company, which sold IPO shares to qualified institutional investors at Rs 912 per share, was authorized to offer shares at a 10 percent lower price, i.e., Rs 820.80 per share through the book-building method. According to the company's latest financial statement, earnings per share have fallen to Rs 2.80. Until mid-July of the last fiscal year, the earnings per share were Rs 54.34. In the past nine months, earnings per share have significantly decreased following the release of the financial statement.</span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the actual financial statement for the last fiscal year 2079/80, the company has an accumulated profit of over Rs 5.63 billion. According to the preliminary financial statement up to mid-April of the current fiscal year, it has an accumulated profit of more than Rs 5.32 million. The company's net worth per share is Rs 242.05 according to the actual financial statement, while the unaudited financial statements of the current fiscal year up to mid-April show a decrease of the net worth to Rs 179.45 per share. The company noted that the net worth calculation includes a reduction of Rs 753.684 million which it owes to the Nepal Electricity Authority.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company was planning to issue IPOs for Nepalis working abroad. The board had approved the issuance of 1,155,960 units of shares worth Rs 948,811,968 to the public on June 27. With the board’s approval, the company intended to sell 10 percent of the total shares to Nepalis employed abroad. Previously, the company sold 770,640 units of shares to qualified institutional investors in January.</span></span></p>
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<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a public discussion, the Public Accounts Committee on Tuesday raised five questions regarding the company's IPO and instructed the board to provide answers within seven days. In compliance with this directive, the company's IPO has been temporarily halted. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills is set to be the second company to issue IPOs using the book-building method in Nepal, following Sarvottam Cements. </span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Reliance Spinning Mills, operating since September 4, 1995, produces yarn, exporting 70 to 75 percent of its products to countries like India, Turkey, Vietnam, and the UK. Chairman Pawan Golyan holds 89.860 percent of shares, with 4.0056 percent owned by qualified institutional investors and 6.0084 percent by Nepalis employed abroad and other general public. </span></span></p>
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