Ridge Line Energy Limited is set to launch its first phase of Initial Public Offering (IPO) from January 27 (Poush 13). In this phase, the company will issue shares to project-affected local residents and Nepalis working abroad with labor approval.
Under the local quota, the company will issue 1.185 million shares to residents of all wards of Ajirkot Rural Municipality in Gorkha, wards 1, 2, and 3 of Dudhpokhari Rural Municipality in Lamjung, and wards 4, 5, and 6 of Dordi Rural Municipality. Local applicants can apply for a minimum of 10 shares and a maximum of 50,000 shares. Applications will close on January 11 (Poush 28), and if shares remain unsubscribed, the deadline will be extended until January 26 (Magh 12).
Similarly, 142,200 shares will be issued to Nepalis employed abroad. Applicants under this category can also apply for 10 to 50,000 shares, with the application deadline set for January 1 (Poush 17).
After completing the first phase, the company will issue shares to the general public. Prabhu Capital Limited has been appointed as the issue manager.
The Securities Board of Nepal (SEBON) approved the IPO on December 7 (Mangsir 22). Ridge Line Energy has completed the construction of the 9.05 MW Super Chepe Khola Hydropower Project in Gorkha and Lamjung and has been generating commercial power since February 2024 (Magh 2080). The company has also invested in the 11 MW Dudhpokhari Chepe Hydropower Project.
The company is chaired by Dr. Basanta Giri, with board members Pradip Raj Giri, Narayan Kandel, Dipendra Hamal, Pratima Tiwari, and Ashok Kumar Khadka. Dr. Binod Pokharel serves as an independent director. Major institutional investors include Sopan Multiple with 1 million shares and Muktinath Capital with 2 million shares.