ICRA Nepal assigns Grade 5 to IPO issue of Aankhu Khola Jalvidut Company

ICRA Nepal has assigned an “[ICRANP] IPO Grade 5”, indicating poor fundamentals to the proposed Initial Public Offering (IPO) of Aankhu Khola Jalvidut Company Limited. Aankhu is proposing to come out with an Initial Public Offer of 2,000,000 numbers of equity shares of face value NPR100 each at par. Of the total shares, 800,000 shares will be issued to project affected areas while remaining 1,200,000 shares will be issued to general public and staff. It is under the review in the Securities Board of Nepal (SEBON). Civil Capital Market Limited has been assigned as the issue manager for the same. 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.