Ridge Line Energy Limited’s IPO Allotment Tomorrow
Summary
Ridge Line Energy Limited will conduct the allotment of its oversubscribed IPO tomorrow, issuing shares from its 9.05 MW Super Chepe Hydropower Project in Nepal.
Key Points
- Ridge Line Energy Limited is conducting the IPO allotment tomorrow after issuing 11,80,260 units.
- The IPO was oversubscribed 25.12 times with 26,64,712 applications for 296,37,300 units.
- 10% of shares were pre-allocated to project-affected locals, and another 10% to Nepalese citizens working abroad.
- CARE Ratings Nepal Ltd upgraded Ridge Line Energy's issuer and bank facility ratings from BB- to BB.
