Ridge Line Energy Limited has completed the allotment of its first-phase initial public offering (IPO), which was issued to local residents in project-affected areas and Nepalis working abroad. The IPO process began on Poush 13 and targeted locals and overseas workers in Gorkha and Lamjung districts.
For local applicants, the IPO was issued until Poush 28. Shares were distributed to residents of all wards in Ajirkot Rural Municipality (Gorkha), Wards 1, 2, and 3 of Dudhpokhari Rural Municipality, and Wards 4, 5, and 6 of Dordi Rural Municipality (Lamjung), totaling 1,185,000 shares. According to sales manager Prabhu Capital, 4,069 applicants submitted applications, of which 4,043 were deemed eligible. Applicants requesting 10 to 550 shares received the full quantity they applied for, while those requesting 600 to 20,000 shares were allotted 590 shares each. Additionally, 553 applicants received 10 shares each through a lottery system, with the maximum allocation for local investors capped at 600 shares.
For Nepalis working abroad, 142,200 shares were allocated. A total of 78,346 applications were received, of which 70,778 were eligible. Due to oversubscription, shares were allotted through a lottery, with 14,220 applicants receiving 10 shares each, while the remaining applicants did not receive any shares.
The IPO results for both groups are expected to be published soon. Once the allotment for project-affected locals and overseas Nepalis is completed, the company plans to issue shares to the general public.
Applicants can check their IPO allotment results through the following channels:
Applicants need to enter their DP ID and other application details to view the results.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
