Kathmandu. Ridge Line Energy has received IPO approval. The Securities Board of Nepal (SEBON) has granted approval to the IPO of the company on December 22.
With the approval of the Securities Board of India (SEBON), Ridge Line Energy will issue ordinary shares worth Rs 260.7 million. As per the agreement, the company will issue a total of 26,07,000 units of ordinary shares at face value of Rs 100. This share is equivalent to 20 percent of the company’s paid-up capital.
Currently, 80% of the promoter shareholders of the company have invested Rs 92.43 crore. After the IPO issuance, the paid-up capital of the company will reach above Rs 1.18 billion.
Prabhu Capital has been appointed as the issue manager for the IPO issuance.
