ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 3, indicating average fundamentals, to the proposed initial public offering (IPO) of NPR 89.695 million of Ru Ru Jalbidhyut Pariyojana Limited (RJPL).
The company is proposing to come out with an IPO issue of 815,411 equity shares. Of this, 407,705 shares are to be issued at a face value of NPR 100 each to the project-affected population; the remaining 407,706 shares would be offered to the general public after adding a premium of NPR 20 i.e. at NPR 120 each. ICRA Nepal had earlier assigned IPO Grade 4+ to the company’s proposed issue in October 2018.