Snow Rivers IPO Allotment: 77,812 Lucky Investors Secure 10 Units Each

Snow Rivers Limited successfully concluded its IPO allotment today under the management of Sanima Capital Limited in Naxal. The hydro-developer's public issue of 778,125 units saw overwhelming retail enthusiasm, attracting 2,557,855 valid applications for 27,457,600 units. To maintain equity, a lottery was conducted to distribute 10 units each to 77,812 successful applicants, alongside 5 individuals who received 11 units. Backed by its operational 13.5 MW Super Kabeli Khola-A Hydropower plant and a newly upgraded credit rating of [ICRANP-IR] BB+ from ICRA Nepal, the company is now positioning itself for its upcoming secondary market listing on the Nepal Stock Exchange (NEPSE).