Kathmandu: Emerging Nepal, the joint venture of IME group and Vishal Group, has received ICRANP issuer rating BB+(Double B plus).The rating agency ICRA Nepal has provided the rating for the issuance of IPO. The rating denotes average risk for fullfulling the financial liabilities.
Emerging Nepal has proposed to issue 5,55,600 units of IPO at the rate of Rupees 100.NIC Asia Capital is the isst manager for the IPO.
Emerging Nepal is an investment company where Government of Nepal too has a minor stake. It has made investments in Nepal Infrastructure Bank(NIFRA), Hotel Alice the Wonder Inn Pvt Ltd, Rating agency Care Rating Nepal, Banking Finance and Insurance Institute Nepal along with various other ventures.
It’s current capital is Rs.500 millions. Vishal Group and IME Group collectively have 54 percent stake in this company.