Kathmandu. Ridge Line Energy Limited (RI) has issued an initial public offering (IPO) from today.

In the first phase, the company has issued the same to the locals of the project-affected areas and the Nepalis who have gone abroad for employment with labour permit.

The company is issuing 26,07,000 units shares worth Rs 26.07 crore i.e. 22 percent of the issued capital of Rs 1.18 billion. The company has issued 1,185,000 units of shares worth Rs 1.85 crore at the rate of Rs 100 each to the locals of the project-affected areas. All the locals of Ajirkot Rural Municipality of Gorkha and the residents of Ward No. 1, 2, 3 of Dudhpokhari Rural Municipality and Ward No. 4, 5 and 6 of Dordi Rural Municipality of Lamjung District can apply for the shares.

The interested bidders can bid for the shares from Ridge Line Energy, Gorkha, Prabhu Capital, Kamaladi, Prabhu Bank’s Chepetar and Palungtar branch offices.

Similarly, Nepalese who have gone abroad can apply for employment in 1,42,200 units of shares at the rate of Rs 1,000 per unit.

Applications can be place for minimum 10 units and maximum 50,000 units.

Locals of the project-affected areas can apply till January 11. If the application is not received as per the demand within the stipulated period, the applicant can apply till January 26.

Similarly, Nepalis who are on foreign employment can apply till January 30. If the application is not received as per the demand within the stipulated period, the application can be submitted till January 28.

Prabhu Capital has been appointed as its issue manager.

Nepalese who are in foreign employment can apply from the banks and financial institutions where they are members of the Securities Board of Nepal (SEBON). You can also apply for my shares.