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Snow Rivers IPO Allotment Concludes: Snow Rivers Distributes 9.37 Lakh Shares to Project-Affected Locals

Snow Rivers Limited allotted 937,500 units to project-affected locals yesterday, with 2,434 applicants receiving at least 170 units each.

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Snow Rivers IPO Allotment Concludes: Snow Rivers Distributes 9.37 Lakh Shares to Project-Affected Locals

The IPO allotment for project-affected residents of Taplejung and Panchthar districts by Snow Rivers Limited was finalized on Baisakh 7, 2083. Out of the 937,500 units offered to locals, the issue saw participation from 2,977 valid applicants. According to the allotment module managed by Sanima Capital Limited, investors who applied for up to 170 units received their full requested amount, while those who applied for higher quantities were allotted a minimum of 170 units, with 116 lucky applicants receiving an additional 10 units through a lottery.

Snow Rivers Limited operates the 13.5 MW Super Kabeli Khola-A Hydropower Project, which has been operational since December 2024. Reflecting the company's stabilizing financial position, ICRA Nepal recently upgraded its issuer rating to [ICRANP-IR] BB+, indicating a moderate risk of default. This successful local allotment paves the way for the company’s upcoming shares issuance to the general public.

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