KATHMANDU, Jan 30: NexGen Management and Equity Solutions Limited has received a CARE NP BB Double B rating ahead of its planned initial public offering (IPO).
CARE Ratings Nepal assigned the rating, indicating a moderate level of risk in the company’s ability to meet its financial obligations.
Himalayan Bullion to issue IPO worth Rs 125 million
Established in 2074 BS, the company has been operating profitably for the past six years. NexGen Management, which functions as an investment company, has already raised Rs 500 million from its promoters.
A special general meeting held on Magh 5 approved the issuance of 20 percent shares to the general public, which will increase the company’s paid-up capital to Rs 625 million.
The company has appointed Laxmi Sunrise Capital as the issue and sales manager for the IPO.
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