ICRA Nepal assigns ICRA grade 5 to proposed right issue of World Merchant Banking and Finance; rating indicates poor fundamentals

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 5 (Pronounced as ICRA NP IPO Grade Five) to the Rs. 36.39 crore worth of Rights Issue of World Merchant Banking and Finance 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.