ICRA Nepal assigns grade 4 to 50% right issue of Mission Dev. and 25% right issue of Kanchan Dev. Bank
Wed, Sep 2, 2015 12:00 AM on Credit Rating,
ShareSansar, September 2:
ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue amounting NPR 57.5 million of Mission Development Bank Limited (MDBL) and also to the proposed rights issue amounting NPR 33 million of Kanchan Development Bank Limited (KDBL).
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.
MDBL will be issuing right shares in the ratio 2:1. The paid up capital of 1-3 districts geographical area category stands Rs 11.50 crore. After the issuance of 50 percent right shares worth Rs 5.75 crores its paid up capital will increase to Rs 17.25 crores. Vibor Capital Limited is the issue manager for the 1:2 ratio right issues.
KDBL will be issuing right shares in the ratio 4:1. At present the development bank has a paid up capital of Rs 13.20 crore whereas after the issuance of 25 percent right shares, it’s paid up will stand at Rs 16.50 crore. Global IME Capital Limited is the issue manager for the right issue of KDBL.
Mission Development Bank Limited (MDBL) has posted a net profit of Rs 2.81 crore in Q4 of last fiscal year. The net profit of the development bank has doubled from Rs 1.19 crore in the corresponding quarter of the previous fiscal year.
MDBL’s last traded price at NESPE stands at Rs 194 as on August 18.
Kanchan Development Bank Limited (KDBL) has earned a net profit of Rs 4.32 crore in the fourth quarter of the last fiscal year. The development bank has stated that its net profit rose to Rs 4.32 crore in the fiscal year 2071/72, up from Rs 3.13 crore of the fiscal year 2070/71.
KDBl’s last traded price at NEPSE stands at Rs 322 as on August 23.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue amounting NPR 57.5 million of Mission Development Bank Limited (MDBL) and also to the proposed rights issue amounting NPR 33 million of Kanchan Development Bank Limited (KDBL).
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.
MDBL will be issuing right shares in the ratio 2:1. The paid up capital of 1-3 districts geographical area category stands Rs 11.50 crore. After the issuance of 50 percent right shares worth Rs 5.75 crores its paid up capital will increase to Rs 17.25 crores. Vibor Capital Limited is the issue manager for the 1:2 ratio right issues.
KDBL will be issuing right shares in the ratio 4:1. At present the development bank has a paid up capital of Rs 13.20 crore whereas after the issuance of 25 percent right shares, it’s paid up will stand at Rs 16.50 crore. Global IME Capital Limited is the issue manager for the right issue of KDBL.
Mission Development Bank Limited (MDBL) has posted a net profit of Rs 2.81 crore in Q4 of last fiscal year. The net profit of the development bank has doubled from Rs 1.19 crore in the corresponding quarter of the previous fiscal year.
MDBL’s last traded price at NESPE stands at Rs 194 as on August 18.
Kanchan Development Bank Limited (KDBL) has earned a net profit of Rs 4.32 crore in the fourth quarter of the last fiscal year. The development bank has stated that its net profit rose to Rs 4.32 crore in the fiscal year 2071/72, up from Rs 3.13 crore of the fiscal year 2070/71.
KDBl’s last traded price at NEPSE stands at Rs 322 as on August 23.
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