Microfinances’ Right issues too receive below-average rating from ICRA Nepal; Grameen Bikas Laghubitta Bittiya Sanstha rated with grade 4 for upcoming 32.75 lakh unit right shares
Tue, Feb 26, 2019 6:54 AM on Credit Rating, Dividend, Bonus & Rights, Latest, Stock Market,
ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) to the Rs.32.75 crore worth (50%) Rights Issue of Grameen Bikas Laghubitta Bittiya Sanstha Ltd. (GBLBS). Instruments with this grading are considered to have below-average fundamentals.
The current paid up capital of GBLBS stands Rs.65.50 Crore as of the second quarter of FY 75/76, will increase to Rs.98.25 Crore after the proposed issue.
The issue is currently under preliminary review from SEBON.
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.
