Reliance Spinning Mills Limited has completed the allotment of its initial public offering (IPO) issued to general investors, following strong demand during the subscription period.

The company had offered 924,768 ordinary shares at a price of Rs 820.80 per share between Poush 7 and Poush 11. The issue attracted applications from 532,888 investors seeking a total of 27.21 million shares, significantly exceeding the number of shares on offer.

Out of the total applications received, 519,046 were approved, while 13,842 applications were rejected due to various technical reasons.

Given the oversubscription, the IPO was allotted through a lottery process. Under the allotment, 18,495 applicants received 50 shares each. The remaining 18 shares were distributed by allocating one additional share to 18 investors, resulting in those investors receiving 51 shares each.