Butwal Power Company welcomes institutional investors to apply in ongoing 40.81 lakh unit FPO shares; already collected Rs 1.32 arba from 95,000 applicants

Butwal Power Company Limited (BPCL) has open an application for Further Public Offering (FPO) shares to the institutional investors as well. As per Kamal Nepal, COO of NMB Capital, the issue manager for the FPO shares of BPCL, due to under subscription till date, institutional investors are made eligible to apply. The issue has collected around Rs 1.32 arba (65%) from 95,000 applicants approximately. BPCL has been issuing 40.81 lakh unit FPO shares from Magh 15, 2074. The issue was not closed on Magh 19, 2074 as the issue are not fully subscribed. Later on, BPCL extended the application deadline. 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. It had earned net profit of Rs 7.22 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 549 as of last trading day. See the list of ASBA member BFIs Click here to see offer letter The debate on the FPO issuance of Butwal Power Company and its current market trend! Know more about BPCL! Are you thinking of investing in BPCL’s upcoming FPO? What might be the ideal units for investment?