Butwal Power Company proposes FPO price for 40.81 lakh units at Rs 470; LTP at Rs 630

Butwal Power Company Limited (BPCL) has proposed a per unit price for its FPO at Rs 470 per share. BPCL will be floating further issue of 40,81,000 unit shares at Rs 370 premium added to the par value of Rs 100. As per the notice published in NEPSE today, the hydropower company has also committed to fully disclose the reason if its forecasted financial statements show a difference of more than 20%. 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. BPCL has earned net profit of Rs 13.09 crore in the second quarter of the fiscal year 2073/74. After the FPO, its paid up capital will reach Rs 2.21 arba and its reserve will grow by Rs 1.50 arba.