Kathmandu. Ridge Line Energy Company Limited (RI) is issuing initial public offering (IPO) to the general public from today.

The company has already issued its shares to the locals of project-affected areas and Nepali migrant workers. After this, the shares were issued to the general public from today.

The company has been permitted to issue 26,07,000 units of 26,07,000 shares i.e. 22% of the issued capital of Rs 1.18 billion. Out of the total offered shares, 1,185,000 units are for the locals of the project affected areas and 1,42,200 units are for the employment of the Nepalese living abroad.

Similarly, the company has set aside 28,440 units for employees and 71,100 units for mutual funds. The company is issuing 1,180,260 units of shares worth Rs 11,80,26,000 to the general public.

Applications can be place for minimum 10 units and maximum 50,000 units. Applications can be submitted till February 17. If the application is not received as per the demand within the stipulated period, it can be submitted by February 27. Prabhu Capital has been appointed as its issue manager.

The interested bidders can apply for the IPO from Securities Board of Nepal (SEBON) and Bank of India (SEBON) and Mero Shares.