ICRA Nepal assigns Grade 4 to the proposed right shares of Surya Life Insurance

March 29: ICRA Nepal has assigned “[ICRANP] IPO Grade 4” to the proposed right issue of Surya Life Insurance Company Ltd worth of Rs 125 million. Surya Life Insurance is proposing to float 25 percent rights issue of 1,250,000 equity shares each with a face value of Rs 100 each to be issued to existing shareholders at par.

The grading, at the current levels, indicates below average fundamentals to the proposed rights issue of the company.