IPO of Mailung Khola Jal Vidhyut Company thrown into uncertainty; Rs 7.36 crore worth IPO receives poor rating from ICRA Nepal indicating week financial fundamentals

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 5 (Pronounced as [ICRANP] IPO Grade Five) to the Rs.7.36 crore worth Initial Public Offer of Mailung Khola Jal Vidhyut Company 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.