ICRA Nepal assigns IPO Grade 5 to Rs 15.50 crore worth IPO of Eastern Hydropower Limited; rating indicates poor fundamentals

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 5 (Pronounced as [ICRANP] IPO Grade Five) to the Rs.15.50 crore Initial Public Offer of Eastern Hydropower Limited. Instruments with this grading are considered to have poor fundamentals.

ICRA Nepal assigns grading on a scale of Grade 1 through 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) indicates their relative better position within the Grading categories concerned.

IPO Grade is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities.