Sana Kisan Bikas Bank receives [ICRANP]  IPO grade 4+ for its 2:1 right issue

ShareSnasar August 27:

13th annual general meeting (AGM) of Sana Kisan Bikas Bank Limited (SKBBL) had endorsed right shares in the ratio 2:1.

ICRA Nepal has assigned a “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed rights issue amounting NPR 115.34 million of Sana Kisan Bikas Bank Limited (SKBBL).

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.

SKBBL has reported net profit rise by 34.92% in the fourth quarter of last fiscal year. The microfinance company has stated that its net profit has surged to Rs 15.39 crore in  Q4 boosting up from Rs 11.40 crore in the corresponding quarter of the previous  fiscal year 2070/71.