KATHMANDU, Feb 26: Ridge Line Energy’s initial public offering (IPO) has been allotted.
The company’s issue and sales manager, Prabhu Capital, conducted the allotment on Thursday.
A total of 118,026 applicants received 10 shares each.
Ridge Line Energy IPO to open for second phase from Feb 11
The company had issued 1,180,260 units of shares worth Rs 118,026,000 to the general public at a face value of Rs 100 per share starting from February 11.
According to the issue manager, 2,537,301 applicants had applied for 27,132,230 units of shares.
Investors can check the IPO results through the websites of CDS and Clearing Limited (CDSC) and Mero Share.
Ridge Line Energy had received approval from the Securities Board of Nepal (SEBON) to issue 2,607,000 units of shares worth Rs 260.7 million, equivalent to 22 percent of its issued capital of Rs 1.185 billion.
The company’s 9.05 MW Super Chepe Hydropower Project is currently in operation. Built at a cost of Rs 2.096 billion, the project began commercial power generation in Magh 2080 and has been connected to the national transmission line.
For the IPO issuance, CARE Ratings Nepal assigned the company a CARE-NP BB (Issuer Rating), indicating a moderate risk in meeting its financial obligations
