Snow Rivers Limited has announced the allotment date for its Initial Public Offering (IPO) issued to the general public. The issue manager, Sanima Capital Limited, is preparing to conduct the share allotment on Tuesday, Jestha 12.

The company had opened the IPO issue for the general public from Baisakh 29 to Jestha 1, offering a total of 778,125 ordinary shares. The IPO received strong participation from investors during the subscription period.

Due to heavy oversubscription, the shares will be allotted through a lottery system. As per the available details, around 77,812 applicants are expected to receive shares at the rate of 10 units each, while the majority of applicants may remain empty-handed.

In recent times, investor interest in hydropower IPOs has been steadily increasing in Nepal’s capital market, and the same trend was reflected in the Snow Rivers IPO as well.