ICRA Nepal assigns ICRANP IPO Grade 5 to Rs.5.80 crore IPO of Shuvam Power Limited; rating indicates poor fundamentals raising doubts for its issuance as per new SEBON guidelines

ICRA Nepal Limited has assigned [ICRANP] IPO Grade 5 (Pronounced as ICRA NP IPO Grade Five) to the Rs.5.80 crore Initial Public Offer of Shuvam Power 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.