Snow Rivers Limited IPO Allotment Concludes: Lucky 77,812 Applicants Allotted 10 Units Each via Lottery System

Snow Rivers Limited's IPO allotment was concluded today at the premises of the issue manager, Sanima Capital Limited, Naxal, Kathmandu.

The company had issued 7,78,125 units as an Initial Public Offering (IPO) to the general public from (29th Baishakh, 2083 to 1st Jestha, 2083).

The issued capital of the company is Rs. 1.20 arba. Of this, 35.26%, i.e., 42,30,668 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 12,00,000 unit shares worth Rs. 12 Crores, were allotted to project-affected locals of Bhojpur district. The remaining 25.26% of the issued capital, i.e., 30,30,668 unit shares, will be offered to the general public. Of this general public issue, 10%, a total of 3,03,067 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 were issued for the general public and allotment concluded today.

The issue received a total of 25,57,855 valid applications for 2,74,57,600 units.

As per the allotment results, 77,812 applicants were allotted 10 units each through a lottery system, while 5 applicants received an additional 1 unit each, bringing their total allotment to 11 units per applicant.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Sanima Capital Limited.

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.