Ridge Line Energy To Float 20,82,870 Shares In IPO
September 28, 2021 | Investopaper
Ridge Line Energy Limited is going to issue an Initial Public Offering (IPO). The company is planning to sell 20,82,870 shares in the IPO at a face value of Rs 100. Hence, the public issue amounts to Rs 20.82 crores.
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For this purpose, the company has appointed Prabhu Capital Limited as the issue and sales manager. An agreement has been reached between the hydropower company and Prabhu Capital in this regard.
The agreement was signed by Basanta Giri on behalf of Ridge Line Energy and Managing Director Dinesh Thakali on behalf of Prabhu Capital on Ashwin 12, 2078 BS [September 28, 2021].
Now, the company needs approval from the Securities Board of Nepal (SEBON) for the public offering.
Ridge Line Energy Limited is constructing a 9.05 MW Super Chepe Hydropower Project on the Chepe River at Ajirkot 2 in Gorkha District. The project expects to generate 53.71 GWh of electricity annually. The estimated cost of the project is Rs 1.65 billion.
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