ICRA Nepal assigns IPO grade 4 to upcoming IPO shares of Himalaya Urja Bikas Company; rating indicates below average fundamentals

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) to the Rs 24.75 crore worth of Initial Public Offer of Himalaya Urja Bikas Company Limited. Instruments with this grading are considered to have below-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.