Snow Rivers Limited is set to open its Initial Public Offering (IPO) to the general public from 29th Baishakh, 2083.
The company is issuing 7,78,125 unit shares at a par value of Rs. 100 per share. The IPO will close on 1st Jestha, 2083, with a provision to extend the deadline up to 12th Jestha if the issue remains undersubscribed.
The company has an issued capital of Rs. 93.75 Crores, of which 20%, equivalent to 18,75,000 unit shares, will be offered to the public.
Out of the total public allocation:
- 9,37,500 unit shares worth Rs. 9.37 Crores were allocated to project-affected locals of Taplejung and Panchthar District.
- 9,37,500 unit shares are allocated for the general public.
From this general public segment:
- 93,750 unit shares were allocated to Nepalese citizens working abroad.
- 18,750 unit shares were reserved for company employees.
- 46,875 unit shares were reserved for mutual funds.
- The remaining 7,78,125 unit shares will be issued to the general public starting from the announced date.
Sanima Capital Limited has been appointed as the issue manager for the IPO. Investors can apply for a minimum of 10 units and a maximum of 1,000 units.
Meanwhile, ICRA Nepal has upgraded the issuer rating of Snow Rivers Limited from “BB-” to “BB+”. The rating indicates a moderate risk of default in meeting financial obligations on time.
Incorporated in August 2014 and converted into a public limited company on June 17, 2022, Snow Rivers Limited operates the 13.5 MW Super Kabeli Khola-A Hydropower Project in Taplejung District, Province 1. The run-of-the-river project began commercial operation on December 20, 2024, with a total project cost of approximately NPR 2,719 million.
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