Snow Rivers Limited IPO Launch: Applications Start from March 9

Snow Rivers Limited is set to launch its Initial Public Offering (IPO) from March 9, targeting local residents of project-affected areas and Nepali workers abroad. The company has been granted approval to issue 18.75 million shares, worth 20% of its total capital of NPR 93.75 million.Local residents from affected areas, particularly from wards of Sirijanga Rural Municipality in Taplejung and surrounding regions, will be allotted 9.375 million shares. Additionally, 93,750 shares have been allocated for Nepali workers abroad.The shares will be priced at NPR 100 per share, with a minimum application of 10 shares. Local residents can apply for a maximum of 10,000 shares, while Nepali workers abroad are allowed to apply for up to 1,000 shares.The company has been rated Double B Plus by ICRA Nepal, indicating moderate risk in its ability to meet obligations. The company is also operating a 13.5 MW Super Kabeli Khola Hydroelectric Project, with a total cost of NPR 271.9 million.The share issue and sales manager is Sanima Capital Limited. Local residents can obtain application forms from Sanima Capital, Nepal Bank, NMB Bank, Sanima Bank, and Global IME Bank.