Mahila Sahayatri IPO gets Grade 4 and NECO Ins. right gets Grade 3 from ICRA

ShareSansar, January 15:

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) amounting NPR 33 million of Mahila Sahayatra Microfinance Bittiya Sanstha Limited.

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. For the Grading categories 2, 3 and 4, the sign of + (plus) appended to the Grading symbols indicate their relative position within the Grading categories concerned. Thus, the Grading of 2+, 3+ and 4+ are one notch higher than 2, 3, and 4, respectively. MSMF is proposing to come out with an IPO of 330,000 numbers of equity shares of face value NRs 100/- each to be issued to general public at par.

ICRA Nepal has assigned “[ICRANP] IPO Grade 3”, indicating average fundamentals to the proposed rights issue amounting NPR 114.78 million of Neco Insurance Limited (NIL). NIL is proposing to come out with 84.88% rights issue of 1,147,784 numbers of equity shares of face value NRs 100/- each to be issued to its existing shareholders at par.