Snow Rivers Limited IPO Opens From Today for Local Residents and Nepali Workers Abroad

Snow Rivers Limited has opened its Initial Public Offering (IPO) for issue and sale from today (March 22/Chaitra 9). The company has issued the IPO for local residents of the project-affected areas and for Nepali citizens working abroad. The company received approval to issue 18,75,000 units of shares worth Rs. 18.75 crore, which is 20 percent of its issued capital of Rs. 93.75 crore. Out of this, 9,37,500 units have been allocated for local residents of the affected areas, while 93,750 units have been reserved for Nepalis working abroad. The company is currently operating the 13.5 MW Super Kabeli Khola ‘A’ Hydropower Project, which has a total cost of Rs. 2.71 billion. ICRA Nepal has assigned the company a Double B Plus rating, indicating a moderate level of risk. The IPO issue and sales manager of the company is Sanima Capital Limited.