ICRA Nepal award Grade 3+ to right issue of Chhimek Laghubitta

ShareSansar, March 3

ICRA Nepal has assigned “[ICRANP] IPO Grade 3+”, indicating average fundamentals to the proposed rights issue

amounting NPR 105.05million of Chhimek Laghubitta Bikas Bank Limited.

ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong

fundamentals and Grade 5 indicating poor fundamentals. For the Grading categories 2, 3 and 4, the sign of + (plus)

appended to the Grading symbols indicate their relative position within the Grading categories concerned. Thus, the

Grading of 2+, 3+ and 4+ are one notch higher than 2, 3, and 4 respectively.

Bank is proposing to come out with the 50% rights issue of 1, 050,482 numbers of equity shares of face value NRs

100/each to be issued to its shareholders at par.

Chhimek Laghubitta Bikas Bank Limited has posted net profit of Rs.104.87 million in its 2nd quarter of the fiscal year

2071/72.

Company’s present paid up capital is Rs 28.3 crore which will be Rs 42.5 crore after the issuance of right shares.