United Modi’s IPO Receives ICRA 3 Rating

August 25: ICRA Nepal has granted Grade 3 rating to the IPO to be issued by United Modi Hydropower. The grade 3 rating indicates weak fundamentals aspects of the company.

United Modi will issue 2,875,000 units of general shares to the public priced at Rs 100. Among the total numbers of shares, the company has allocated 1,150,000 shares to the locals of affected areas. Remaining 1,725,000 units of shares will be issue for general investors. NIBL Capital Market has been appointed as issue manager by the company.