Ridge Line Energy Limited (RLEL)

Ridge Line Energy Limited is a Nepali hydropower company engaged in electricity generation. The company is coming to the capital market with an Initial Public Offering (IPO) for the general public starting from Magh 28.

The company has an issued capital of NPR 1.185 billion and has received approval to issue 22% of its issued capital, equivalent to NPR 260.7 million (2.607 million shares). Prior to the public issue, the company has already completed share allotment for project-affected local residents and Nepalis working abroad.

In the second phase, Ridge Line Energy will issue 1,180,260 ordinary shares to the general public at a face value of NPR 100 per share, amounting to NPR 118.03 million. Out of the total approved shares, 28,440 shares have been reserved for employees and 71,100 shares for mutual funds.

The IPO will close on Falgun 4 if fully subscribed, or on Falgun 13 in case of under-subscription. Investors can apply for a minimum of 10 shares and a maximum of 50,000 shares through the C-ASBA system using banks, financial institutions, or the Mero Share online platform. The issue and sales manager for the IPO is Prabhu Capital Limited.

Ridge Line Energy operates the 9.05 MW Super Chepe Hydropower Project, which has a total project cost of NPR 2.096 billion, translating to a cost of approximately NPR 231.6 million per MW. The project holds a generation license with a remaining validity of 30 years and 11 months.

The project achieved commercial operation on Magh 8, 2080 (BS) and is currently selling electricity to the national grid. The simple payback period of the project is estimated at 7 years and 4 months, while the discounted payback period stands at 10 years and 9 months.

For credit rating, CARE Ratings Nepal has assigned the company a CARE-NP BB (Issuer) rating, indicating a moderate level of risk in the company’s capacity to meet its financial obligations.

Ridge Line Energy Limited (RLEL) has launched its IPO in the Hydropower sector, seeking to raise Rs. 0. The offering consists of 1,180,260 units priced at Rs. 100.00 per unit, with Prabhu Capital Limited serving as the issue manager.

The subscription period, which is open to General Public, is scheduled from February 11, 2026 to February 16, 2026, with a minimum application requirement of 10 units.