ICRA Nepal assigns IPO grade 3+ to upcoming IPO of Shivam Cement; first IPO in premium price indicates average fundamentals

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 3+ (Pronounced as ICRA NP IPO Grade Three Plus) to the Rs. 2.02 arba (including premium) Initial Public Offering of Shivam Cements Limited. Instruments with this grading are considered to have average 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.