BPCL FPO raises little over 55 crore from 42, 190 applicants in 3 days; issue not closing today

The ongoing FPO of Butwol Power Company Limited (BPCL) has collected little over Rs 55 crore from 42,190applicants in 3 days. As per an official from NMB Capital, issue manager of the FPO, the daily collection figure stands as follows: Day 1: Rs. 116,978,000 from 8300 applicants day 2: Rs 202,046,000 from 15,790 applicants day 3: Rs 231,060,000 from 18,100 applicants moreover, it is to be noted that the FPO issue will still continue unlike few speculations that today is the closing day for the issue. As per the notice published by the company, today (Magh 19) is the date for the issue to close at earliest; however the FPO issuing company is authorized to extend the closing date as per the collection. BPCL is issuing 40,81,000 units shares worth Rs 2.04 arba as part of its Further Public Offering (FPO) from Magh 15, 2074. The FPO is priced at Rs 501 per unit (Rs 401 premium added to the par value of Rs 100). Interested people must apply for a minimum of 10 units of shares and they can apply for up to 20,400 units shares. NMB Capital Limited is the issue manager for the FPO and Laxmi Capital is the co-issue manager. Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074. After the FPO, its paid up capital will reach Rs 2.21 arba and its reserve will grow by Rs 1.50 arba. BPCL aims to use the amount collected from the FPO to develop 37.6 MW Kabeli-A Hydropower Project and 30 MW Ngadi Hydropower project. BPCL has 54% stake in Kabeli Energy Limited and 97% stake in Ngadi Hydropower Project. Find more about the FPO issue