Snow Rivers Limited has officially opened its Initial Public Offering (IPO) today, Chaitra 9, targeting residents affected by its hydropower project and Nepalese citizens employed abroad.
Snow Rivers Limited IPO Key Details
| Feature | Details |
| Issue Date (Opening) | Chaitra 9, 2082 |
| Project Name | Super Kabeli Khola A (13.5 MW) |
| Total Units Issued | 1,875,000 units |
| Price per Unit | NPR 100 |
| Local Quota | 937,500 units |
| Migrant Worker Quota | 93,750 units |
| Minimum Application | 10 units |
| Maximum Application | 10,000 units (Locals) / 1,000 units (Migrants) |
| Closing Date (Early) | Chaitra 12 (Migrants) / Chaitra 23 (Locals) |
| Credit Rating | [ICRANP-IR] BB+ (Moderate Risk) |
| Issue Manager | Sanima Capital Limited |
| Project Cost | NPR 2.71 Billion (~USD 18.15 Million) |
| Payback Period | 8.17 Years |
Offering Details
The company received approval to issue 1.875 million units of shares, valued at NPR 187.5 million, representing 20% of its issued capital of NPR 937.5 million. The current phase of the issuance is broken down as follows:
- For Project-Affected Locals: 937,500 units (NPR 93.75 million) have been allocated.
- High-Affected Area: 468,750 units are reserved for residents of Ward No. 8 of Sirijangha Rural Municipality, Taplejung District.
- Affected Areas: 468,750 units are allocated for residents of Wards 1-7 of Sirijangha RM, Wards 5 and 6 of Sidingwa RM, Wards 5 and 6 of Pathibhara Yangwarak RM (Taplejung), and Ward No. 1 of Hilihang RM (Panchthar).
- For Nepalese Migrant Workers: 93,750 units (10% of the general public quota) are available for Nepalese citizens who have obtained labor permits and are working abroad.
Application Guidelines
Investors can apply for a minimum of 10 units. The maximum limit is set at 10,000 units for local residents and 1,000 units for migrant workers.
Deadlines:
- Locals: The early closing date is Chaitra 23, with a late closing date of Baishakh 8, 2083.
- Migrant Workers: The early closing date is Chaitra 12, with a late closing date of Chaitra 23.
Financial and Project Status
ICRA Nepal has assigned an ICRANP Issuer Rating of [ICRANP-IR] BB+ to the company, indicating a moderate risk regarding the timely servicing of financial obligations.
Snow Rivers Limited is developing the 13.5 MW Super Kabeli Khola A Hydropower Project. Key project metrics include:
- Total Cost: NPR 2.71 billion.
- Cost per MW: NPR 201.4 million.
- Payback Period: 8.17 years (simple) and 15.77 years (discounted).
- License Remaining: 31 years and 2 months.
How to Apply Snow Rivers Limited IPO
Sanima Capital Limited is the designated issue and sale manager.
- Locals can apply at the project site, Yamphudin, or designated branches of Nepal Bank (Sirijangha), NMB Bank, Sanima Bank, and Global IME Bank (Phungling). A nominal fee of NPR 2 applies for the application form.
- Migrant Workers must apply through the C-ASBA system via any SEBON-authorized bank or financial institution.
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