Snow Rivers Limited Concludes IPO Allotment for Nepalese Citizens Working Abroad; 9,375 Lucky Applicants Receive 10 Units each
Thu, Apr 2, 2026 11:51 AM on IPO/FPO News, IPO/FPO Result News, Latest,
The IPO allotment for Nepalese citizens working abroad by Snow Rivers Limited was concluded today, 19th Chaitra, 2082.
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, will be allocated 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 for Nepalese citizens working abroad.
The issue received a total of 82,085 valid applications for 10,28,980 units. Meanwhile, 21 applications for 220 units were disqualified.
As per the allotment module, 9,375 applicants were allotted 10 units each.
Allotment Module:
The IPO result can be accessed by CDSC IPO Result, MeroShare, and Sanima Capital Limited.
Sanima Capital Limited was appointed as the issue manager. The minimum application quantity for Nepalese citizens working abroad was 10 units, and the maximum was 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.
