Nepal, Jan. 29 -- Ridge Line has allocated 1.18 million shares worth Rs 118.02 million for the general public. Applications for the IPO can be submitted until February 16.

Ridge Line Energy is set to issue its initial public offering (IPO) in the second phase from February 11.The company is moving to the second phase after distributing shares to project-affected locals and Nepalis working abroad. In this phase, the IPO will be sold to the general public.

Ridge Line has allocated 1.18 million shares worth Rs 118.02 million for the general public. Applications for the IPO can be submitted until February 16.

Earlier, the company had distributed 1.185 million ordinary shares worth Rs 118.5 million to residents of the project-affected areas...