Ridge Line Energy to Launch IPO from Poush 13 for Locals and Nepalis Working Abroad

Ridge Line Energy Limited is set to issue its Initial Public Offering (IPO) starting from Poush 13 for project-affected local residents and Nepalis working abroad. The company has received approval to issue 2.607 million ordinary shares, representing 22 percent of its issued capital. Out of this, 1.185 million shares have been allocated for local residents of Ajirkot Rural Municipality in Gorkha and selected wards of Dudhpokhari and Dordi Rural Municipalities in Lamjung. Additionally, 142,200 shares have been reserved for Nepalis employed overseas. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares. CARE Ratings Nepal has assigned the company a CARE-NP BB issuer rating, indicating a moderate level of risk in meeting financial obligations. The company operates the 9.05 MW Super Chepe Hydropower Project, which has already commenced commercial operations. Prabhu Capital Limited is serving as the issue and sales manager for the IPO.