The Securities Board of Nepal (SEBON) has approved the Initial Public Offering (IPO) proposal of Ridge Line Energy Limited.
Under the approved plan, the company will issue 11,850,000 shares to the general public, with each share having a par value of Rs. 100. Prabhu Capital Ltd has been appointed as the issue manager to handle the IPO.
The company’s issuer rating has been upgraded by CARE Ratings Nepal Limited (CRNL) from CARE-NP BB- (Is) to CARE-NP BB (Is), signaling a moderate risk of default. Similarly, the rating for Ridge Line Energy’s long-term bank facilities has been upgraded from BB- to BB.
Company Overview: Ridge Line Energy Limited, incorporated on 28 December 2017, is a public limited company promoted by individual investors to develop the 9.05 MW Super Chepe Hydropower Project (SCHP). The project, located in Ajirkot Rural Municipality, Gorkha District, is being executed under the BOOT (Build, Own, Operate, Transfer) model and is already operational in generating electricity.