IPO Proposal of Ridge Line Energy Limited Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Ridge Line Energy Limited. The approval was issued on 22nd Mangsir, 2082.

According to the approved proposal, the company will issue a total of 11,850,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

Prabhu Capital Ltd has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has upgraded Ridge Line Energy Limited’s issuer rating to CARE-NP BB (Is) from CARE-NP BB- (Is), indicating a moderate risk of default. Similarly, the rating for the company’s long-term bank facilities has also been upgraded to CARE-NP BB from CARE-NP BB-.

Ridge Line Energy Limited (RIDGE), incorporated on December 28, 2017, as a public limited company, has been established by individual promoters to develop the 9.05 MW Super Chepe Hydropower Project (SCHP). The project is being executed under the “BOOT” (Build, Own, Operate and Transfer) model and is situated in Ajirkot Rural Municipality of Gorkha District, Nepal.