Kathmandu. Ridge Line Energy Company has issued an IPO allotment.

According to Prabhu Capital, the issue manager of the company, the IPO is being issued to the general public. The company had received more applications than the demand for the IPO. The IPO was allotted through lottery as there were more applications than the demand.

A total of 27,23,914 applicants had applied for the IPO. Of them, 2,537,301 applications have been approved while the rest have been rejected. A total of 1,18,026 applicants have been allotted 10 units each.

The results of the IPO can be found on the website of the issuing company, the issue manager, My Share and CDSC’s website. The company had issued 1,180,260 units of shares from February 12 to February 17.