Snow Rivers IPO Allotment: 77,812 Lucky Investors Secure 10 Units Each
Snow Rivers Limited’s IPO concluded via lottery, allotting 10 units each to 77,812 lucky applicants out of 2.55 million.
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).