ICRA Nepal assigns assigns grade 4 to IPO issue of Nepal Hydro Developer, Dibyashwari Hydropower and to the 25% right issue of United Finance

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed Initial Public Offering (IPO) of Nepal Hydro Developer Limited (NHDL) and Dibyashwari Hydropower Limited (DBHL). Nepal Hydro Developer Limited is proposing to come out with an Initial Public Offer of 650,000 umbers of equity shares of face value NPR100 each at par.Of the total shares, 260,000 shares will be issued to project affected areas while remaining 390,000 shares will be issued to general public and staff. Dibyashwari Hydropower Limited had proposed  to come out with an Initial Public Offer of 660,000 numbers of equity shares of face value NPR 100 each at par. Of the total shares, 264,000 shares have  already been issued to project affected population while remaining 3,96,000 shares will be issued to general public and staff. Ace Capital Limited has been assigned as the issue manager for the IPO issue of Dibyashwari Hydropower . ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue amounting NPR 115.9837 million of United Finance Limited (UFL). UFL is proposing to come out with a rights issue of 1,159,837 numbers of equity shares of face value NPR 100/-each, to be issued to existing shareholders at par. 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.