IPO Issue of Ridge Line Energy Limited Closing Today; Oversubscribed 21.19 Times So Far
Summary
Ridge Line Energy Limited's IPO issue is closing today after being oversubscribed 21.19 times, with 2,244,643 applicants applying for 25,014,010 shares. The company has upgraded its financial ratings and is executing a 9.05 MW hydropower project in Nepal.
Key Points
- Ridge Line Energy Limited is closing its IPO issue of 1,180,260 shares at par value Rs 100 on 4th Falgun, 2082.
- The IPO has been oversubscribed 21.19 times with 2,244,643 applicants applying for 25,014,010 shares.
- CARE Ratings Nepal Limited upgraded the company's issuer rating to CARE-NP BB (Is) indicating moderate default risk.
- The company is developing a 9.05 MW Super Chepe Hydropower Project under the BOOT model in Gorkha and Lamjung districts, Nepal.
