ICRA Nepal has assigned IPO grade 4+ to the IPO issue of Arun Kabeli Power Company

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below average fundamentals to the proposed initial public offering (IPO) of Arun Kabeli Power Company Limited. The process of issuing  an IPO of Arun Kabeli  is on  review in SEBON. Arun  Kabeli Power Limited is proposing to come out with an Initial Public Offer of 4,500,000 numbers of equity shares of face value NPR 100 each at par. Of the total shares, 1,500,000 shares will be issued to project affected population while remaining 3,000,000 shares will be issued for general public and staff. Siddhartha Capital Limited has been assigned as the 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.