BPC ordinary share auction: Cut-off price: Rs 745; highest bid amount: Rs 830

ShareSansar, May 19:

Butwal Power Company Limited has auctioned 16,857 units of its unclaimed ordinary right at an attractive price.

The cut-off price for the ordinary share was just Rs 745 per unit and the highest bid amount was Rs 830, according to NMB Capital Limited, the issue manager, which had opened the bid to close the auction yesterday.

There were altogether 280 applicants who had submitted closed bids from May 8 to May 16 for the auction of the scrip floated at a face value of Rs 100.

The auction was a good opportunity to get hold of the BPC scrip as the prevailing share market price of the scrip hovers around Rs 770.

It may also be noted that Guheshwori Merchant Banking and Finance Limited had bid for all the floated shares at Rs 745.