IPO Proposal of Snow Rivers Limited Approved By SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Snow Rivers Limited.

According to the approved proposal, the company will issue a total of 18.75 lakh unit shares to the general public. The shares will be offered at a par value of Rs. 100 per units.

Sanima Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Snow Rivers Limited (SRL or the company) to [ICRANP-IR] BB+ (pronounced ICRANP Issuer Rating Double B Plus) from [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B Minus). Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Snow Rivers Limited (SRL), incorporated in August 2014 and converted into a public limited company on June 17, 2022, operates the 13.5 MW Super Kabeli Khola-A Hydropower Project in Taplejung district, Province 1, Nepal. The project is a run-of-the-river (RoR) scheme designed at a 42.32% probability of exceedance (Q42.32). It was commissioned on December 20, 2024, with a total project cost of approximately NPR 2,719 million, translating to about NPR 201 million per MW.