ICRA Nepal assigns [ICRANP] IPO Grade 4 to 2,800,000 units IPO issue of Synergy Power Development

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed Initial Public Offering (IPO) of Synergy Power  Development Limited. SPDL is proposing to come out with an Initial Public Offer of 2,800,000 numbers of equity shares of face value Rs 100 each at par. Of the total shares, 700,000 shares will be issued to project affected areas while remaining 2,100,000 shares will be issued to general public and staff. Civil Capital Market Limited has been assigned as issue manager for the IPO issue. 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.