KATHMANDU, Dec 19: The Securities Board of Nepal (SEBON) on Thursday formed a committee to investigate the controversy surrounding the Initial Public Offerings (IPO) issuance of Reliance Spinning Mills.
The Ministry of Finance directed SEBON on December 16 to probe the company’s IPO issuance under the book-building process.
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SEBON formed the investigation committee under the coordination of Board members Binod Kumar Bhattarai and Pitambar Bhandari and gave it 15 days to submit its report.
According to SEBON, the committee will conduct an impartial investigation into the processes and procedures related to the proposed IPO issuance through the book-building method.
SEBON said the committee may invite other individuals as deemed necessary during the course of the investigation.
