Snow Rivers Limited has completed the allotment of its IPO issued for Nepalis working abroad.
The allotment was carried out this morning by the issue manager, Sanima Capital Limited. The company had opened the sale of 93,750 shares at a face value of Rs. 100 per unit from Chaitra 9 to Chaitra 12.
During the application period, a total of 82,106 applications were received. Among them, 82,085 applications were approved, while the remaining were rejected.
Since the IPO was oversubscribed, the shares were distributed through a lottery system. A total of 9,375 applicants received 10 shares each, while all remaining applicants were not allotted shares.
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