Let’s stop. Today is the last day to apply for the IPO of Ridge Line Energy Limited. The company is issuing the IPO to the general public from February 12. The company has issued the IPO to the general public after allocating the IPO for the local residents of the project-affected area and the Nepalese working abroad.
The company was allowed to issue 26,07,000 units of shares worth Rs 260.7 million i.e. 22 percent of the issued capital of Rs 1.18 billion. Out of the total offered shares, 1,1,85,000 units have been set aside for the locals of the affected area and 1,42,200 units for the employees of the affected areas of the company.
In the second phase, the company is issuing 28,440 units to employees and 71,100 units to mutual funds.
Applications can be place for minimum 10 units and maximum 1000 units.
Care Ratings Nepal has assigned CareNP Double B Issuer rating to the company. This indicates that there is a moderate risk to the company’s ability to meet its obligations.
Prabhu Capital Limited has been appointed as the issue manager for the IPO issuance. The interested bidders can bid for the shares online by using ‘Mero Share’ software developed by CDS & Clearing Limited and all ASBA member banks and financial institutions approved by the Securities Board of Nepal (SEBON).
