KATHMANDU: Snow Rivers Limited is going to issue an IPO to the general public from May 29. After allocating the IPO for the local residents of the project-affected areas and Nepalis who are employed abroad, the company is now going to issue the IPO to the general public. <\/p>\n
The company was allowed to issue 18,75,000 units of shares worth Rs 18.75 crore, or 20 percent of the issued capital of Rs 93.75 crore. Out of this, 9,37,500 units of ordinary shares have been issued to the local residents of the project affected area and 93,750 units of ordinary shares have been issued to Nepalese working abroad after obtaining labour permit from the concerned authority of the Government of Nepal. <\/p>\n
Similarly, the company has issued 46,875 units of shares to the mutual funds and 18,750 units to the employees. <\/p>\n
In the second phase, the company is issuing 7,78,125 units of shares at face value of Rs 100 each to the general public. <\/p>\n
Applications can be placed for a minimum of 10 units and a maximum of 1,000 units. Applications can be submitted for the IPO on May 15 at the earliest and till May 26. <\/p>\n
ICRA Nepal has assigned ICRA NP Issue Rating Double B Plus to the company in its rating for the IPO issuance. This indicates that there is moderate risk to the company’s ability to meet its obligations. <\/p>\n
Sanima Capital Limited has been appointed as the issue manager for the IPO issuance. Investors can apply for the ASBA service from the banks and financial institutions participating in the ASBA service and their designated branch offices with permission from the Securities Board of Nepal (SEBON).<\/p>\n","protected":false},"excerpt":{"rendered":"
KATHMANDU: Snow Rivers Limited is going to issue an IPO to the general public from May 29. After allocating the IPO for the local residents of the project-affected areas and Nepalis who are employed abroad, the company is now going to issue the IPO to the general public. The company was allowed to issue 18,75,000 […]<\/p>\n","protected":false},"author":9,"featured_media":170612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45212,45159],"tags":[],"class_list":["post-296755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hydropower-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/296755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=296755"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/296755\/revisions"}],"predecessor-version":[{"id":296756,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/296755\/revisions\/296756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/170612"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=296755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=296755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=296755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}