As closing date fast approaches, BPCL FPO gathers roughly Rs 1.38 arba leaving 32% shares undersubscribed

The ongoing FPO of Butwal Power Company Limited (BPCL) has collected about Rs 1.38 arba from roughly over 83 thousand applicants by Falgun 8, 2074. As per NMB Capital that has been managing the FPO, the daily collection figure has been moving in a snail’s pace in the recent days. Not even the acceptance of investment from institutional investors some time back could provide momentum to the collection figure as most of them haven’t poured in their money yet, as shown by the collection statistics. The maximum closing date for the ongoing FPO is on Falgun 15, 2074. In case the shares don’t get subscribed till this date of closing, the underwriters who had pledged their commitment for this FPO issuance would be required to purchase the leftover shares. NMB Capital Limited, Laxmi Capital Market Limited, NIBL Ace Capital Limited, Global IME Capital Limited and Nabil Investment Banking Limited are the parties which have committed as the share underwriters for this issuance and would be purchasing the unsubscribed shares. The Last Traded Price (LTP) of BPCL as on Falgun 8, 2074 was Rs 540 after the depreciation of 3.05%. BPCL has been 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). 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's Q2 Report