IPO for General Public: Snow Rivers Limited to Issue 7,78,125 Units IPO Shares from Baishakh 29

Snow Rivers Limited will open its Initial Public Offering (IPO) to the general public on 29th Baishakh, 2083. The company is issuing 7,78,125 unit shares at a par value of Rs. 100 per units. The early closing date for the IPO is the 1st Jestha, 2083, but if the issue is not fully subscribed by then, the deadline will be extended to the 12th Jestha, 2083.

The issued capital of the company is Rs. 93.75 Crores. Of this, 20%, i.e., 18,75,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 9,37,500 unit shares worth Rs. 9.37 Crores, were allotted to project-affected locals in Taplejung and Panchthar District. The remaining 10% of the issued capital, i.e., 9,37,500 unit shares, will be offered to the general public. Of this general public issue, 10% of 9,37,500, a total of 93,750 unit shares, were allotted to Nepalese citizens working abroad.

Of the general public issue, 2%, i.e., 18,750 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 46,875 units, have been reserved for mutual funds. The remaining 7,78,125 units will be issued for the general public and opened from the date mentioned above.

Sanima Capital Limited has been appointed the issue manager for the public offering. Applications could be placed for a minimum of 10 units and a maximum of 1,000 units.

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 the 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.

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